What to Look for in a Good Franchise Investment
October 22, 2018
There are a lot of franchise opportunities across the United States, and knowing how to invest in a franchise that fits the values you hold can feel like an endless search. There are a lot of factors that go into a good franchise investment, but there are also certain things to look for that make one stand out from all the others. Here are some of the qualities that good franchise investments possess and how you can find the right opportunity.
Brands are only as strong as the dedication their franchisees have to their vision. A brand vision is like a promise: something every franchise can strive for year after year of service. Certain brands like U.S. Lawns make theirs simple but meaningful. U.S. Lawns strives for 100% customer retention and 100% franchisee satisfaction. Having a clear vision like this lets potential franchisees know that the brand cares about their franchisees and wants to see them succeed. Other lawn care companies sometimes fall short to U.S. Lawns because of their brand vision and the national strength that the brand holds.
Training and Support
A quality franchise investment will cover services such as training and support to help franchisees get started with their franchise. The training covers all aspects of running their future franchise to make sure potential franchisees have the skills and knowledge they need to get started with their new career in a franchise they’re passionate about. Brands that are dedicated to the educational process during the training can potentially expect better results later as the franchisees begin their journey with a franchise.
In addition to the dedication throughout the training process, offering ongoing support is also a key quality that a good franchise investment will have. No matter how much training a franchisee has prior to opening his or her franchise, there are always going to be problems and questions that arise. A franchisor that offers support to help franchisees through any and all issues shows that they are a brand that is dedicated to the retention and loyalty of the franchisee and wants to help them stay on a course more prone to success.
U.S. Lawns offers a program that includes a week of classroom training in addition to hands-on field training and dedicated support team visits to the franchisee’s territory. We also provide more than 750 operational tools and training resources available to our franchisees through our online course catalog.
Opportunities for Conversion
For many, an investment may not mean starting a franchise from scratch but rather converting a small business into one. For example, lawn care companies may struggle with building large-scale business models, which is why many convert to franchises like U.S. Lawns. U.S. Lawns and other franchise opportunities offer different ways to show business owners how to invest in a franchise and convert their business, so they can take advantage of the growing franchise industry, which, according to the International Franchise Association, currently sits at $425.5 Billion. Franchising holds a lot of potential profit for franchisees, especially as the years progress and the numbers grow.
How to Invest in a Franchise That is a Good Fit for Me
If you have narrowed the search to a few options and are wondering how to invest in a franchise that you will be passionate about and have the drive to work hard in, it is important to consider the ideal qualities that franchisees in each industry possess. For a fast-food restaurant it may be a well-adapted palette and the ability to work in a fast-paced environment; for a bookkeeping franchise it may be advanced math skills and the ability to work a 9-5 job at a desk; and for lawn care companies it may be a desire to lead teams and improve their communities in ways that are clearly visible..
There are a lot of opportunities out there when it comes to franchises, but by determining what you are passionate about and finding the right brand, you could have a franchise investment that you are proud of.
For more information on how to invest in a franchise and finding the right franchise investment for you, download this free eBook with advice that U.S. Lawns gives their own franchisees.