Top Resources for Franchisees Looking for Validation Information

Before deciding to become a franchisee of a brand, it’s important that the candidate feels confident that they’re joining the right brand for their goals and skill set. Just because someone likes working out doesn’t mean they’re going to be a great franchisee for a fitness concept. The same goes for someone who loves pizza choosing to open a pizza franchise. This means doing your own research is very much necessary in the decision about whether to move forward.

When it comes to looking for the right brand, Jania Bailey, FranNet’s CEO recommends that prospective franchisees be very clear about what they’re looking for.

“I don’t mean for looking at food versus service,” Bailey said. “Are they looking for something Monday through Friday? Are they willing to work seven days a week? Do they want employees? If so, how many? This is where so many people make serious mistakes when looking at franchises. They start looking at names and the type of franchise and get excited before they ever really do an internal analysis of what they really want.”

Bailey explained that once people do some soul searching and figure out what they’re looking for, their next step should be looking into rankings that exist online. She mentioned that candidates should consult Franchise Business Review, a company that actually gives ratings on franchisee satisfaction, and to also check if and where the brand is ranked on Entrepreneur Magazine’s Franchise 500 ranking.

But when it comes down to it, Bailey said that she believes the absolute best validation comes from the franchisees within that system.

“Once you’ve zeroed in on a concept or two you want to look at, talk to franchisors and check for green lights compared to your model, your must-haves,” Bailey said. “Then, start talking to those franchisees and validating that, in fact, what you think is available to you in that franchise is actually being proven.”

She said that at the end of the day, you’re trying to understand if the information given to you as a prospect is realistic so you can then make a good decision. “If someone is giving you rose-colored glasses and painting everything perfectly, that’s a red flag,” Bailey said. Every system has superstars and people struggling, but you need to know what separates them, whether it’s the market, training or their background. Maybe they’re just not a fit. Speaking to people within a franchise system is important to grasp whether it’s the right franchise for you.

In the end, Bailey said the biggest question to ask is: “Would you do it again – why or why not?” That gives you the information needed to help make an educated decision.

Russ Riggs owns Orangetheory Fitness franchise locations with his wife and is also investing in TWO MEN AND A TRUCK*. Riggs said that speaking to franchisees was the best way to validate for him. His accountant had been working with some TWO MEN AND A TRUCK franchisees and he suggested Riggs look into the opportunity.

“I went online, inquired and started a conversation with corporate,” Riggs said. “At the same time, I talked to two gentlemen who were already franchisees. It was pretty helpful. They both said having to do it over, they’d do it again for sure, but it’s definitely hard work. Just hearing that was enough. They were helpful and we talked about other things, but my main question was answered.”

Between searching online for the brand’s presence and news stories, checking on its accolades and industry rankings, and talking to franchisees, franchise candidates should be able to come to a conclusion on if a brand is right for them.