Friday , 3 February 2023

How to select a Franchise

EE 0020_How to Select a FranchiseHow do you know how to select the right franchise for you? Brand endorsement is of great importance to any successful franchise, but even more so the franchisee needs to understand and embrace the brand entirely. As a franchisor we receive a lot of enquiries monthly – which is great for our business, but not all of the people enquiring are necessarily suitable franchisees.

There are a few things one should bear in mind when you consider to become a franchisee:

  1. Does the specific group you will be committing yourself to, endorse and fit YOUR PERSONAL VALUE SYSTEM?  You need to have a clear vision, knowing who you are, where your strengths lie and what you will need to do in order to realise this vision. Envisage and measure this against the brand you are planning to invest into.
  2. As a potential franchisee you will need to be able to relate and COMMUNICATE effectively with your franchisor. If you do not agree from the get go rather stay away.
  3. How relevant is the brand you will be buying into? Is the franchisor keeping up with recent trends and INNOVATING continuously to ensure that they stay relevant e.g. having a digital presence with high social media visibility, established website etc.?
  4. Consider the added VALUE that you will receive. Consider the following aspects in this regard:
    • Does the franchisor have a large and established footprint?
    • What do you intend to gain from being part of a larger group?
    • Does the franchisor have sufficient support structures?
    • Is the brand visible enough to guarantee more foot traffic?
    • Do you enjoy the privilege of providing exclusive products and services secured by the franchisor serving a market niche?
    • Will you be enjoying national marketing and training support, empowering you to gain a competitive edge in the market?
  5. Will you generate a good return on investment? Buying into any   business opportunity should be FINANCIALLY REWARDING.

Once you have ticked the boxes above, you will be afforded the opportunity as a franchisee to join the franchisor on an inspiring journey towards building a successful business.

At Imbalie Beauty we pride ourselves in our values of teamwork, integrity, accountability and responsibility.   Our goal as franchisor is to uplift and develop business leaders and their teams in business.

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