Frequently Asked Questions
Why use MatchPro's Services Franchise advisory services and not go directly to the franchisors?
Quite simply to save time, money and potential aggravation! Our service is free. Your franchise fees or business purchase price will not be greater if you choose to use our service. We provide all the information a potential business owner needs to find the opportunity that fits their goals, plus we already know many of the safest, strongest and most lucrative opportunities in business today . . . a task that can take months for someone outside the industry.
What makes MatchPro franchising unique from other franchise brokerage firms?
Simply stated its our experience…MatchPro Franchising has over 25 years of experience representing both franchisors and franchisees. We understand the franchise process because we have been in your shoes as a franchisee and we have been in the franchisors shoes as brand executives. We are a licensed affiliate representing over 500 of the premier/most successful franchisors in over 270 plus industry categories. The fact is in most cases we can provide you a multitude of excellent choices to best match your specific interests. We have pre-screened hundreds of franchises and business opportunities and will help you select the best choices that match your lifestyle, professional business experience and financial requirements/goals. MatchPro Franchising will save you time and money and, most importantly, match you with the right franchise that best meets your unique personal and professional goals.
How much does it cost to use the services of MatchPro Franchising?
MatchPro’s Franchising services are free to the consumer. You will pay the published price for any franchise as if you approached them on your own. MatchPro is paid by the franchisor not you. You might ask why this would be a good deal for the franchisor and the answer is that they recognize the quality of fit clients that we refer to them once our matching process is complete. Using a service like MarchPro franchising is a very good business decision for them and a good decision for the consumer.
How do i know if a franchise is right for me?
Unlike a non-franchised business when people buy a franchise they have the opportunity to be in business for themselves but not by themselves.
Because a franchise offers a proven method of doing business it allows the investor to transfer their skills to their own business knowing that the franchisor is there to provide support when problems arise. This can be enormously important especially at the start-up phase of your business.
Is financial assistance available?
Proper capitalization is the number one hurdle for most business start-ups and its essential for a franchise start-up as well. Having a clear understanding of the financial commitment must be addressed at the investigation phase of your search. This will prevent a situation where you get into a you do not get into a situation where you do not have adequate funding to support the concept. Part of our interview process at MatchPro focusses on this issue.
The best source of information about financing options for any franchise is the franchisor. This is an issue that they deal with every day and most have compiled information on the options that might be available. In addition MatchPro Franchising has multiple sources to assist you as well.
How soon can I get my business started?
We work at your pace. While the process that we have to review your information is thorough it can be done quickly if you are motivated. For most people the review and selection process averages 1 to 3 months. Once you have selected the right business for you it can take anywhere between 1 to 6 months to get open dependent on they type of business and infrastructure required.
Do I need specific industry experience to own a franchise?
In some cases franchisors are not looking for people with specific industry experience and in some cases some experience is helpful. The franchisee role typically is one of management so skills related to that are often most important to franchisors. Franchisees who are effective in areas such as motivating employees, generating sales, and running the day-to-day operations are seen in a very favorable light to franchisors..
Why would someone use a franchise consultant?
A professional franchise consultant can offer candidates a wealth of general and inside information about the franchise industry as well as about specific franchise industries and opportunities. MatchPro helps save our clients time by assisting with much of the initial legwork required in identifying rock solid opportunities that meet your criteria and are available in your desired market.
What is it like working with a Franchise consultant?
Our approach to this business is very simple and straight forward. Our consultants will conduct an initial interview to gain insight to your previous experiences, goals, strengths, weaknesses, investment range, target market and more. We will then work to select ideal franchises for you and assist you in researching the opportunity. When our clients are ready to take a serious look at a franchise we will facilitate the introduction then remain by your side throughout the remainder of the process.
Are there aggressive sales tactics used in this business?
NO! Franchising is not a sales business – it’s a mutual discovery process. Good franchises are not sold – they are awarded. Only when both parties feel there is strong potential for success does anyone begin to consider investing in the franchise. “Selling” a franchise to a less than ideal candidate is generally a recipe for failure for both franchisee and franchisor. Aggressive sales techniques is not how winning franchisors are built.
How widespread is franchising?
The answer may surprise you. By 2001, there were 767,483 business establishments in all domestic franchise systems (either owned by franchisors and franchisees), which employed almost 10 million people, with direct output close to $625 billion, and a payroll of $230 billion. These establishments account for significant percentage of all establishments in many important lines of business: 56.3% in quick service restaurants, 18.2% in lodging, 14.2% in retail food, and 13.1% in table/full service restaurants.
What are the major growth sectors in franchising?
As the economy becomes more service and technology oriented, as more women enter the work force, and as a larger percentage of the population grows older, growth areas in franchising are responding to these changes. The industry categories in franchising that are expected to continue to experience rapid growth for the start of the new century are service-related fields such as home repair and remodeling, carpet cleaning, household furnishings, and various other maintenance and cleaning services; business support services including accounting, mail processing, advertising services, package wrapping and shipping, personnel and temporary help services, and printing and copying services; automotive repairs and services such as quick-lube and tune-up; and other areas such as environmental services, hair salons, health aids and services, computers, clothing, children’s services, educational products and services, and telecommunications services.
While it is important to consider industry growth before investing in a franchise, it is more important to analyze an individual franchise company’s track record, keeping in mind that quick growth does not always spell success. A franchise organization that grows too quickly might not have a service team in place to support all of the units properly. Overall, long range trends indicate a steady, solid growth in business format franchising. Some will fall by the wayside, as is natural with any business, but others may well be the “household name” franchise success stories of tomorrow.
what kinds of business lend themselves to franchising?
Virtually every business form you can imagine. The International Franchise Association now lists more than 75 different categories to describe its members. Typically, you would think of fast food and restaurants first when thinking of franchising, but franchising covers the spectrum from almost A to Z, from advertising/direct mail to construction to dating services to home inspection to security systems to video sales and rentals. Printing and copying services, maid services, computer services, cleaners, lawn care services, real estate, hotels and motels, and travel agencies are excellent examples of successfully applying franchising to established industries.
WHAT SHOULD I CONSIDER BEFORE BUYING A FRANCHISE?
Among the points which IFA recommends for investigation are:
a. the type of experience required in the franchised business;
b. a complete understanding of the business;
c. the hours and personal commitment necessary to run the business;
d. who the franchisor is, what its track record has been, and the business experience of its officers and directors;
e. how other franchisees in the same system are doing;
f. how much it’s going to cost to get into the franchise;
g. how much you’re going to pay for the continuing right to operate the business;
h. if there are any products or services you must buy from the franchisor and how and by whom they are supplied;
i. the terms and conditions under which the franchise relationship can be terminated or renewed, and how many franchisees have left the system during the past few years;
j. the financial condition of the franchisor and its system.
Both the Federal Trade Commission (www.ftc.gov) and IFA (www.franchise.org ) have many helpful publications and resources. Equally important, IFA recommends that you engage an attorney to examine the contract. It is important to work with an attorney who understands franchising, especially the antitrust laws, the trademark laws, the Federal Trade Commission Franchise Rule, and applicable state laws. It is also recommended that you ask a competent accountant to examine your anticipated expenses, your financing needs, and your prospects for achieving your desired level of profitability before you sign any agreement.
WOULD I MAKE A SUCCESSFUL FRANCHISEE?
A successful franchisee should be suited to the industry of which he or she is a part, suited to the particular franchise company, and suited to the franchise system generally. Important questions to ask yourself include: Am I suited to the industry physically and by experience, education, learning capacity, temperament and financial ability? What type of work is most appealing to me; for example, do I enjoy working with food, mechanical things, people, real estate, books and recordings, sporting goods, etc.? Am I prepared to work hard and take financial risks? Do my advisors, family, and friends think I am adaptable and trainable? How do I react to controls? Am I a loner – resenting authority and restraints, or can I accept guidance and direction happily? If I prefer to act as a passive investor in the franchise, will the company accept this? How do I personally feel about the company’s image and products and services? The right answers to these types of questions help determine your potential success as a franchisee.