How to Prepare for Your Franchisor Interview | College H.U.N.K.S.® Hauling Junk & Moving
If you are seriously considering investing in a franchise opportunity, it is important to start preparing for your interview with the franchisor to discuss the franchise in more depth before you commit.
This interview is mutually beneficial, as it gives you and the franchisor an opportunity to determine if the franchise is the best fit for you. Before you go into this discussion, it is important that you are ready with questions and considerations so you can be prepared to go into the discussion.
Here’s how to prepare:
Understand the Considerations Specific to Your Industry
Before you commit to investing in a certain franchise, it is important that you conduct thorough research regarding the industry that you are considering. While you may look at an industry and think it provides a lucrative opportunity, you should also dig deeper and understand exactly what types of challenges and considerations that those in the industry have to keep in mind. While no franchisor will expect you to solve an industry’s problems in your initial interview, it is important to be able to showcase that you have an understanding of the common issues.
Thoroughly Review the Franchise Disclosure Document
Your Franchise Disclosure Document is where you will get all the fast facts you need regarding the franchise you are considering, so it is important to review it thoroughly before your interview. Your talk with the franchisor will be a prime opportunity to ask questions or request clarification on any elements in the Disclosure Document, so come prepared with any questions you may want to ask.
Have a Financial Plan in Place
While many franchisors will help you secure the funding you need to start your franchise, it is important to have a clear outline of your finances handy for your franchisor interview. Being aware of how much capital you are able to put down, how much financing you will need to seek and where you can seek said financing will help you come to the table prepared to have important money discussions regarding the investment opportunity.
Are you ready to start your own franchise with us? Get in touch today to learn more about the opportunities we offer and how you can get on board!