Franchisee Recruitment Process
Initial Steps
- Submit your history of employment/career, which may be in the form of a CV.
- Schedule an initial interview, which includes a phone conversation and questions to the prospect franchisee.
- Undergo due diligence.
References and Financial Verification
- Provide two references (co-workers, employers, employees, or former business partners) with their email and phone number for a 30-minute conversation.
- Submit your credit history, showing past loans, bankruptcy, other current liabilities, etc.
- Provide bank statements showing the amount of money needed to start the business or other documents proving eligibility to start the franchise.
Business Plan and Agreement
- Submit cash flows, financial forecasts, and a simple (no more than 2 pages) business plan created by the franchisee.
- Sign the franchise agreement.
- Pay any fees that are due.
Initial Training
- Set up email accounts, system accounts, etc.
- Cover all common functions in the system.
- Explain the Franchisee Manual.
- Explain all processes and case studies.
What if My Territory is Already Taken?
- You can make an offer to buy the existing franchise.
- You can choose an adjacent territory.
- You can form a partnership with the existing franchisee.
Other Resources
For more detailed questions to prospect franchisees, please visit the Questions to Prospect Franchisee page.