What To Know When Shopping For A Franchise

When shopping for a franchise to own and operate, look for the key factors you would want present if you were opening up a business independently . . .

First, don’t consider a franchise if you think it will be a ‘get rich quick’ scheme. If you have a highly diversified portfolio and are simply looking for a new area in which to expand your interests, a full time beauty salon franchise ownership might not be right for you.

When shopping for a franchise, it’s important to understand that you will be making a commitment to the parent company, and its customers.

Second, you should review and carefully consider all pertinent documents that the franchise has to offer. Be wary of businesses that are hesitant to furnish details about franchise performance, as it may mean they have something to hide.

The only major exception is that your prospective franchise may not want to furnish their Financial Disclosure Documents (FDDs) until having had a chance to speak with you. That’s because FDDs contain very sensitive financial information including average net sales, average EBITDA, average costs and expenses, and their projected earnings and revenues.

Once the business in question knows that you’re serious about a franchise however, they should be able to provide you this document with no hassles.

Additionally, here are some other important things to look for as you are shopping for a franchise:

- Whether or not the market for this product or service is secure, and if it will stay stable and profitable into the future
- Available direction and guidance from knowledgeable owners who understand the business model they are operating
- If the franchise contract is able to be altered. It’s good if you have a little managerial leeway, but beware of a franchise that lets you change too much about its business model or company image. Inconsistencies in a brand turn into a weaker success rate
- A proven business model with consistent training and clear, available financial records
- A straightforward contract, or Uniform Franchise Offering Circular (UFOC) that describes all the required fees and costs upfront
- Protection from same-brand competition; a location option far enough away from other branches that the stores are not cannibalistic

When you’re looking for a franchise

It’s our goal to make CoLaz your clear choice. You will have access to a proven business model that generates high profit margins for owners.

We’ll also provide you with expert guidance and support, helping you to quickly setup your beauty salon franchise and operate it efficiently. For more information on why a CoLaz laser hair removal franchise may be a great fit for you, use this form to request additional information.