What Questions Should I Ask Current Franchisees?
Updated: 3 days ago
If you’re considering purchasing an Honest Abe Roofing (HAR) franchise, you probably have some questions you’d like answered. There’s no better way to get an idea of what it will be like to be a franchisee than to ask people who’ve already done it — current franchisees.
You’ll be provided with an FDD (franchise disclosure document) that contains the names and contact information of other HAR franchise owners. You can use this to reach out to franchise owners and ask these eight questions that might help you with your preparation and decision-making.
1. What are the pros, cons, and hidden costs of being a franchisee?
Any business endeavor requires you to weigh the pros and cons before reaching a decision. While you likely have some idea of the advantages and disadvantages of becoming a franchisee, current franchisees might be able to clue you into details you hadn’t considered.
2. What did they learn that they didn’t glean from their research before they became franchisees?
As a prospective franchisee, you’ve probably already done some research being a franchisee but you never know what you might have missed. Current franchisees can talk with personal knowledge about all the details, good and bad, of becoming a franchisee and hopefully you can learn something from their experiences.
3. How much did they budget for their enterprise, and how much did they wind up spending?
Asking these two questions will help you get a clearer view of what your costs for opening the franchise may look like. It’s an important piece of the puzzle so it’s helpful to have some input from people who’ve done it before.
4. How long did it take them to become profitable?
Ideally, reaching profitability won't take long but either way, this is important information for your planning.
5. What was the toughest part of building the business?
If you know the toughest part ahead of time, you can prepare better.
6. How supportive is headquarters?
One major advantage of owning a franchise compared to just opening a small business from scratch is that you don’t have to do it alone. The better the support system in place at headquarters, the better your chances of success as a franchisee.
7. How challenging is it to hire good staff?
The staff you hire is the backbone of your business. It’s important to know what kind of landscape you’ll be dealing with when it comes to hiring good staff.
8. If, given what they know now, would they do it again or recommend the franchise to a close family member?
Hopefully, the answer will be yes and you’ll have even more confidence to move forward.
Remember to ask these questions to more than one current franchisee if at all possible. Talking to more people will allow you to get a broader view of what it’s like to be a franchisee. Some people will be more open than others about their struggles so more voices paint a fuller, more accurate picture of the experience.
At Honest Abe Roofing, we’re happy to share contact information of our franchisees and include it in our franchise disclosure document. We believe in honesty and transparency, and are certain you’ll find all the information you could ever need about our company.