What To Look For Before Buying A Franchise

Like any major life decision, doing your due diligence and research is critical when seeking out business opportunities. Understandably stepping into your own franchise business allows you to take control of your financial future and be rewarded for doing something you love - the ultimate success in life. Before making the move to kickstart your future, it is vital that you have done your research on which franchise is the best fit for you; beyond different product offerings or brands, not all franchises are equal. The support you will get from one franchise can differ greatly from another. 


When purchasing a franchise, you are relying on systems, structure and the support to build a successful business for yourself. Branding and marketing is important to establish awareness and an esteemed reputation, yet this is only one aspect of your business and won’t be the sole reason you will be successful in the long term. Having access to world class systems, structure and support is also vital for a sustainable future.   


What to look for before buying a Franchise

At Fitstop, we pride ourselves on implementing the highest quality systems and support to give our Business Owners the best possible chance of succeeding. We have created a comprehensive checklist for you to understand the importance of strong systems and support within a franchise and why they can be the difference between success or failure within franchising. 


Site Search and Leasing

  • Support from the franchisor with site selection; selecting a high visibility, busy area that will appeal to prospective Fitstop members  
  • Guidance and assistance for lease negotiations and rental terms
  • Support with council with the correct zonings and approval to operate 
  • Provided with thorough design and build manuals to ensure efficiency of build and consistency of brand


Opening Support

  • An integrated marketing launch plan, supported by internal and external marketing experts to ensure effective lead generation; the goal here is to be opening cash flow positive from day one
  • Weekly contact support to ensure leads are converting for a successful open
  • Induction training to ensure you are confident with all business facets including product, brand and marketing, finance, operations and sales


Ongoing Support and training

  • Dedicated location support for Business Owners 
  • Training and support involving an e-learning platform to support performance and continual Business Owner education
  • Infrastructure and resources to support the growth and sustainability of your location 
  • Bi-monthly product/programming training and education 


Systems

  • Lead generation software to help manage leads and provide CRM support/communication
  • Digital management software solution offering a multitude of templated and branded tools to support digital and print mediums to provide owners with functionality to customise to their location whilst having the ability to pre-schedule digital content  

Planning 

  • Annual strategic planning focused on key focuses for success, education and financial budgeting
  • Quarterly strategic planning, training and education
  • Monthly Tactical Meets to review MTD performance, discuss actions and priorities to close the month as well as campaign and event planning for the following month

Reporting tools

  • Monthly Benchmarking for all locations nationally for a holistic understanding of industry trends and highlighting areas for improvement 
  • Live location reporting accessed remotely, ensuring the franchisor is always reviewing the financial health and performance of your location and the network as a whole

Marketing

  • 12 months campaign/events calendar to support business planning
  • Access to a multitude of brand standard assets for various social media platforms  
  • Campaigns centred around growth and quality lead generation 
  • Detailed opening launch process to support location growth before doors open


Financing

  • Forecasting processes 
  • Detailed standards and support to achieve long-term success 



We highly recommend asking the right questions of the franchise network you are considering to make sure you will be fully supported with high quality systems and processes to ultimately help you succeed. Fitstop’s comprehensive support offerings differentiates us within the franchising industry; we ensure that no matter the stage of your business, we will provide the same level of support and attention to detail to ensure continual improvement and long-term success.

To find out more about Fitstop's proven systems and support structure, contact Bec our Franchise Recruitment Manager today via rebecca.hull@fitstop.com


Rebecca Hull

Franchise Recruitment Manager

Fitstop Franchise Recruitment Manager, Rebecca, combines her love of fitness and experience as a Senior Recruitment Consultant to help progress passionate people into owning their own successful fitness business.