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As most people are looking for a fresh, brand-new start through investing in a franchise business, here are some key questions to protect yourself, and be fair to the franchisor you are exploring:
What skill set will I need for success in the business model? Do I need to be strong in strategy and planning? Will I need strong sales skills to interact with prospective clients, or will I delegate that responsibility to someone else?
Do I need to be focused on systems and processes? How extensively will I have to use technology?
How strong is the franchisor leadership team? What people, and what experiences, is the team comprised of? Do they have a compelling vision for the future of the business and brand? Can you envision them helping to add value to your franchise? Do you trust them?
What is the culture of the franchise system? What are the corporate values of the franchisor and the franchise system? Are these values that you can comfortably embrace? Is a service culture evident at the franchisor? Do the franchisees in the system work together for the betterment of the brand and system?
