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Franchise Questionnaire

"Is Your Business Franchiseable?" Questionnaire

If you still aren’t quite sure whether franchising is right for you, we’ve developed a questionnaire that will help you assess your current business situation and to provide some clarity as to whether franchising might be a viable growth option for your business.

Do you have an operating prototype that is the same or similar to the business you intend to franchise?
Has your business been operational for 3 years or more?
Is your business profitable?
If your business is profitable, can a franchisee who owns and operates the business (NOT an absentee owner), under normal operating conditions, earn a living (salary, return, and owner’s benefits) making $50,000 or more after two full years of operation?
To review profitability in another way, would a franchisee be able to earn a 20% return on their initial cash investment and make an average manager’s salary after two full years of operation?
What is the total initial investment range a franchisee would need to open up one of your units or territories?
Does your service or product have a customer base beyond its local community? Would you define your business has having the potential to expand:
Does your business make a clear and distinct differentiation from your competitors?
Can your business model be taught in a reasonable time (1 day to 2 months) to someone with limited or no experience in your industry or field?
Does your business require a specific experience, certification, training, or other type of requirement to operate?
If your business requires special industry experience, certification, training, or other type of requirement, is there a clear way to find your preferred candidates? (For example, a real estate franchise might want to sell to a licensed real estate agent or a dental franchise might want to target a dentist)
How many years of experience do you and/or your management team have in your industry or field of work?
How would you classify the competitiveness in your industry or business field?
Do you have a marketing strategy that your franchisees could implement to grow increase their revenue as soon as they open for business?
Are there federal, state, or local laws/guidelines that make it difficult to open or operate your business?
Does your brand have an appealing position within your market?
Can the sales and marketing strategies of your business be easily replicated in other locations or territories?
Have you done market research to identify if the long term industry trends and do you understand what the future economic indicators mean for your business?
Do you have technology systems in place to help manage and support your operations, sales, and/or financial management?
Do you have the make-up and experience to be a mentor/coach/trainer that successful franchisors have in their DNA?

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