Frequently asked questions
Franchisors tap into their years of experience to answer some of the most frequently asked questions by people looking at becoming franchise owners
Are there any specific circumstances where the franchisor is allowed to terminate the Franchise Agreement?
Franchisors and their franchise owners are naturally very motivated to maintain the quality of the services and/or products which customers receive at their establishments, both because it’s good business and because it reflects the brand promise. Therefore, any reputable Franchise Agreement spells out the fact that failure to operate according to the standards could lead to termination.
Ron Berger, CEO of Figaro’s Pizza
What factors should I consider when selecting a franchise?
- Make sure that you fit the culture of the business.
- For best results be prepared to own and work in the business.
- Does the franchisor provide comprehensive training?
- Talk to existing franchise owners about whether the franchisor delivers on their promises, that return on investment meets their expectations etc.
- How long has the franchise been in business? Do they have a track record in the market and have national brand awareness?
- Is the franchisor committed to supporting your business through good times and bad?
- Can you afford it without over-extending your retirement savings, mortgage or personal debt?
Frank Orchard, Senior Franchise Manager at CeX
How will buying a franchise affect my work/life balance?
The work/life balance will depend on the franchise type you’re looking at and your own ambitions. While some franchises may be part or full-time, provide the opportunity to work from home or allow flexible working hours, the work/life balance you achieve will be down to the choices you make in your business.
Many are looking for a change that provides overall flexibility to their lives. Buying your own business means you are becoming your own boss and therefore the decision maker. From choosing your work schedule and the number of hours you put in to being able to take time out of the business for an emergency, a franchise will provide that flexibility. At the same time it is important to understand the consequences to your business of taking advantage of this flexibility too often.
Marcelle Ingrouille, Head of Franchising at ServiceMaster Clean & Merry Maids