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What to Consider When Buying a Franchise

In our previous blogs, we have discussed why you should consider starting your business coaching company as a franchise. In this blog, we will be discussing what things you need to be looking at and evaluating when you decide which franchise you should buy.

Not all business coaching franchises are alike, and there is a reason why the Growth Coach has consistently been viewed as the #1 franchising opportunity in this industry.

Does the franchise allow you to grow your business by expanding your reach?

As we have discussed before, one of the best things about being a Growth Coach are the tools we provide you to reach businesses outside of the industries you have direct experience with. This cannot be said of all business coaching franchises. Some may be giving you branding, which is valuable, but a franchise should be so much more. Ask companies how they plan on helping you grown your business when evaluating your options.

Does this franchise have the tools in place to allow you to maximize your time coaching?

When you are running your own business, you are going to have to spend time keeping house, no way around it. A solid franchise has the tools in place to minimize the time you must spend doing business chores so that you can spend the most time possible coaching. More coaching -> more clients -> more business. Ask each franchise you are evaluating what tools they have that help you in business administration to get a feel for how much time you’ll be spending in front of paying consumers vs managing the day-to-day affairs of your company.

Is your territory exclusive?

How often have you driven by a business and then had déjà vu because you are passing another with the previous one still in sight? Some of these franchises can get away with this in densely populated areas (though there is no denying that their franchisees wished for the business they would have with greater exclusivity), but the number of businesses in any geographical area is always significantly fewer than the number of personal consumers. Because of this, you should always ask about a business coaching franchise’s exclusivity before you make your decision.

Want to see how the Growth Coach stacks up against these questions? Contact us today, and a Franchise Director will be in touch with you shortly.