Franchisee Recruitment Process

 

What are the steps to becoming a franchisee?

  1. History of employment/career, may be in the form of CV
  2. Initial Interview (Schedule phone conversation, Questions to Prospect Franchisee)
  3. Due diligence
    • Two references, co-workers, employers, employees or formers business partners (their email and phoen number so we can talk to them for 30 min)
    • Credit history (showing past loans, bankruptcy, other current liabilities, etc...)
    • bank statements showing the amount of money needed to start the business or any other documents proving eligibility to start the franchise
    • Cashflows, finacial forecasts and simple (no more than 2 pages) business plan created by the Franchisee
  4. Signing the agreement
  5. Franchisee pays any fees that are due
  6. Initial Training during which
    • Set up for email accounts, system account, etc...
    • All common functions in the system will be covered
    • The Franchisee Manual will be explained
    • Explain all processes and case studies

What if my territory is already taken?

  1. You can make an offer to buy the existing franchise
  2. You can choose an adjacent territory
  3. You can form a partnership with existing franchisee

Other Resources