SELECTING A SITE FOR YOUR FRANCHISE
when we ask a franchise buyer about selecting a site for his or her
business, the client answers, “Oh, the franchisor takes care of
that.” Sometimes they say that the franchisor has hired a real
estate broker to handle site selection. If that’s what you are
thinking, STOP. There is no bigger risk in opening a new franchise than
allowing someone else to select your location.
In retail business, location is a critical determinant of success. You
must rely on sound data and your own best judgment to select a site
that will allow your business to succeed. No one cares more about the
quality of your site than you do. Remember, the rent for the next ten
or fifteen years is your money, not the franchisor’s and not the
broker’s. Your franchisor wants to open a new site. Good franchisors
are careful to open only good sites, but franchise sales people and
franchise brokers want, first of all, the commission on the sale. Likewise,
real estate brokers are not as picky about the long term success of
your site selection decision as you are.
money. Make site selection your decision.
Help Franchise Buyers with Site Selection
We provide advice to our clients about site selection methods generally.
We are not experts in the particular industry in which you are buying
a franchise. We can, however, counsel you about how franchise site selection
criteria are formed. We will assist you in the process of defining or
discovering a set of criteria that you can use to select a good site
for your business. Sometimes those criteria are available from industry
sources. Other times, you need to compile data about successful and
unsuccessful businesses and determine what aspects of their location
are favorable or unfavorable. We assist clients in understanding what
data they need, how to collect it and how to use it.
When it comes time
to choosing a property for your franchise, contact
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