How to Find the Best Franchise to Own
Purchasing a franchise offers a range of opportunities, from breaking into a new industry with fewer hurdles to finally having your own business. While buying a franchise offers a paved path to business success, it’s important to avoid jumping into just any franchise brand. First, you have to find the best franchise to own according to a number of criteria.
Check Trusted Franchise-Related Resources
Determining the best franchise opportunity is certainly a challenge. However, there are plenty of resources out there to help franchisees know how to do their due diligence and research the right opportunities for their personal and financial aims.
Here are some reliable resources you can explore as you investigate franchise brands that could potentially be the right fit for you:
There are plenty of publications dedicated to delivering in-depth information about specific franchise brands and up-to-date insights about the franchising industry. These franchise magazines include reputable publications such as Inc and Entrepreneur. Online publications dedicated to franchising also exist. Franchise Business Review is an example of a trusted source for rankings and advice related to franchising.
The task of finding the best franchise to own can be made easier with the help of franchise associations. From the Coalition of Franchisee Associations to the International Franchise Association, there are a number of resources to check out. The websites and related publications of these associations offer detailed data and guidance on almost every aspect of choosing a franchise brand.
Franchise Trade Shows
Learn more about the industry and start networking with others at a franchise trade show. This kind of event can give you the basic information you need as you start to narrow down your options for a franchise business. If there is a trade show near you, don’t hesitate to use this opportunity to gather as much information as possible and lay a foundation of knowledge you can continuously refer back to.
In-Depth Research Reports
Research reports are common among all industries, and franchising is no exception. In fact, the International Franchise Association publishes annual research reports that offer details on trends in franchising and financial projections on both a regional and national scale.
Professional Franchise Consultants
The job of a franchise consultant is to help prospective franchisees find suitable opportunities. A franchise consultant will assess criteria such as your budget, your personal interests and professional goals, relevant trends, and more to make the right suggestions based on their in-depth experience.
Online Franchise Portals
Franchises for sale are often posted on online franchise portals, which makes it easy to filter through them using categories such as industry and price. Because these portals are sometimes used to promote franchise brands, it is important to keep an eye out for promoted content and differentiate it from more general information.
After you’ve determined the broader industry areas you’re interested in exploring, checking out the websites of individual franchisors is a logical next step. These websites often offer a ton of resources for prospective franchisees, including details about startup costs, territories, investment requirements, and steps to franchise ownership.
Consider Whether a Franchise Is Right for You
Once you’ve narrowed down your list of potential franchisors to a select few, it’s time to get more personal in your considerations. As you research each franchise brand, ask yourself whether their core values align with your personal motivations.
Does reading the testimonials of current franchisees inspire you? Can you see yourself in their shoes? If you are hesitant about whether you would actually enjoy working as a franchisee with the brand, this should give you significant pause. Only move to the next step when you feel strongly that you relate to the franchise concept and the franchisor’s mission.
Why Many Consider Visiting Angels the Best Franchise to Own
Everyone is different with different driving factors and personal preferences, meaning there is no single best franchise to own. However, for those who have a heart for helping others and a desire to make a positive impact on their community, a Visiting Angels® franchise may be the ideal fit.
We are proud to have an extensive network of franchisees who are immensely satisfied with their decision to break out of the typical 9-to-5 and become business owners in the thriving industry of senior home care. In addition to doing rewarding work, our franchisees enjoy benefits such as
- Reasonable start up costs and related fees
- Protected territories to avoid oversaturation
- Ongoing support, including a 24-hour help line
- A sense of autonomy in daily business operations
- Nation-wide brand recognition and national PR campaigns
If after checking all the available resources you believe Visiting Angels may be the best franchise to own, we encourage you to reach out to our team for more information. Just call 800-365-4189 or request details online today.