Questions To Ask Exhibitors
Increase your chances of success as a business owner. Asking the right questions when doing your research can have a huge impact on your decision to become a franchisee.
Here are some examples of questions you could ask to help prepare you to own your own business:
- What makes the franchisor’s product or service unique?
- How many years has the franchisor been operating?
- How many units do they have overall?
- Who chooses the location of the business?
- How does the franchisor choose franchisees? How are qualifications reviewed?
- What are some of reasons you have turned down prospective franchisees?
- What kind of support and advice, including advertising, marketing and training, does the franchisor provide franchisees?
- Will you be provided with a disclosure document? Does it comply with provincial franchise laws?
- How much is the initial franchise fee?
- What is the anticipated period of time between start-up and profitability?
- What are the future plans of the franchise?
- Can I have some specific examples of problems that your franchisees have experienced, and how your employees jumped in to help out?
- Are there any major technology/equipment upgrades planned for the current system?