Our Process
Our meticulous, yet easy
process is one of the best in the world.
FranchiseU knows that taking the leap into business ownership is a personal, important, and sometimes difficult one. We’re here to be by your side and help you along the way. The FranchiseU matching process is similar to working with an executive recruiter when looking for a new career. An executive recruiter tries to find the best fit in careers for you based on your experience, skills, and personality. There are many similarities to this and the FranchiseU process, as your consultant will use similar factors to find the best possible franchise for you. The major difference though is that instead of looking for a new job, you’ll be realizing your dream of business ownership!
You will work with one of our experienced franchise consultants. They will learn all about you – your background, skills, and goals for business ownership. They will draw on this information as they assist you through the franchise search process. They will help connect you with resources that can answer your questions, and work closely with you to understand your needs and business goals as a prospective franchise owner.
Our franchise matching process involves four important steps:
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The first step in the FranchiseU process is getting to know you. We’ll ask you to complete a Confidential Questionnaire before your franchise consultation.
During this consultation, the goal is to discuss and to decide upon the business characteristics that are important to you, the role you plan to play in the business and your motivations for franchise ownership. We will ask many detailed questions to determine the business characteristics that match best with you. Questions like:
What are your reasons for wanting a business of your own?
Have you ever owned a business of your own?
What hours do you like to work?
Where do you want your business to be located?
How do you feel about managing people?
How much capital are you willing to invest to start your new business?
Will you have partners?
Do you want to build multiple units?
How soon do you want your business to open?
Will you be involved on a full-time or part-time basis?
These are just a few of the many vital issues we'll discuss with you. Your answers to these detailed questions will form the basis for recommending franchise opportunities. The consultation process is fun and exciting, and most people tell us they learn a lot about themselves too!
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FranChoice pre-screens franchises and we only recommend A+ businesses. After the consultation process, we will have enough information to make specific franchise recommendations. Each franchise recommended will be consistent with the selection criteria established. Additionally, we consult with the franchisor to assess availability and demographics in your desired location.
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Each franchise will lead you through a detailed discovery process to introduce you to their proprietary business operations. You will conduct a series of due diligence activities to learn about their lead generation process, marketing, operations, performance and more. Also, you’ll have the opportunity to speak with franchisees who are currently operating the business in another location. An essential part of your investigation will be developing financial projections based on information you learn in your due diligence. Once you have all of your questions answered and have selected your final brand, it’s time to sign the franchise agreement and launch!
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As you prepare to launch as a new franchisee, you will receive support from the franchisor with all aspects of the process including standing up your new website, training, social media, hiring your team and generating customers. Also, as a franchisee, you will become part of a broader ‘family’ of franchise owners. This is invaluable. Being able to call another franchisee to learn and share best practices is very rewarding whether you’re in early launch or it’s 2 or 5 years later.