My experience stems from buying and selling franchises. I believe in franchising as a wealth creation tool but be sure you don’t become a victim.

If you want to build an international franchise or are simply looking at acquiring a franchise to increase your wealth – always look if you can tick the following check boxes.

My 7 learnings as a successful franchisee (and in order of merit):

1. Buy the top franchise model in the industry i.e. if Pizza franchise – buy top franchise in the country (the criteria being, 3 -5 years of being number one)
2. If passionate founders are present – big YES
3. Strict code of conduct and high operational standards – is there consistency in customer experience throughout the group?
4. Are franchisees considered as customers?  Or is the franchisor looking at a franchisee as a glorified employee – don’t be shy – ask the franchisees.
5. Are more than the 20% making money (real good money) – otherwise it’s an average franchise – Be very sure you have the capability of being a superstar! Happy customers and profitable franchisees –these are signs indicating the franchisor has his finger on the pulse! Unhappy franchisees and clients is a definite red signal.
6. Buy in before the big growth is realized – i.e. see the potential for the group and buy in before everyone wants in. No different from the stock market…
7. Is the franchisor operationally focused or customer-centric? If operationally focused – GET OUT!

Build or buy a franchise with the above in mind and rest assured -you will have a winner!

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