15 Key Questions Franchise Quiz

“Should I Franchise My Business?”

There are many variables that a business must consider before embarking on a franchise development program. When considering, “Should I franchise my business?”, the first step is to determine if franchising is a viable expansion method for your business. To provide you an initial assessment, we recommend completing our “15 Key Questions Franchise Quiz.” Although there are additional factors that enter into the decision to franchise your business, the number of positive responses to the questions is a good indicator of your company’s initial franchise potential. Once you have completed the quiz, you will have the option to submit your contact information and quiz results to us for our evaluation. Since the questions have been weighted based on their importance to the decision to franchise your business, we encourage you to schedule a Free “Franchise My Business” Consultation so that we may provide you additional considerations and information based on your responses and quiz score. We will email you within one business day to invite you to schedule an initial call or web meeting.

Does your business operate using proven processes and procedures (i.e. is the business systematized)?

Can others be trained to duplicate your system of operation?

Have you developed proven advertising and marketing programs, sales techniques and/or other methods to attract customers to your business?

Is your business profitable?

Is the profit margin sufficient to permit a Royalty Fee (i.e. a percentage of gross sales) to be paid by Franchisees while still providing a fair profit?

Will the projected initial investment required to develop and begin operating a franchise location permit the Franchisee to earn a 100% ROI within 5 years?

Has the business been in operation for more than two years?

Do you have more than one operating location?

Does your company enjoy a good reputation with customers and suppliers?

Will your current operation serve as the prototype for the Franchise Business (with minimal modifications required)?

Can your business be operated successfully in a wide range of markets?

Do you have regional and/or national sources of supply for equipment, fixtures, furnishings, inventory, products and supplies?

Is your industry projected to grow?

As additional locations open, do economies of scale exist related to purchases of equipment, inventory, products, supplies, and/or advertising and marketing?

Do you have existing employees who will assume specific responsibilities within the franchise operation (i.e. franchise sales, training, support, supervision)?

Please enter your contact information below if you would like to submit your quiz results to us for our review. Since the questions have been weighted based on their importance to the decision to franchise a business, we would like to have the opportunity to provide you additional considerations and information based on your responses.

Although few companies can answer “yes” to every question, the number of positive responses is a good indicator of your company’s initial potential to franchise. If you answered “yes” to many of the questions, you may also wish to review the benefits of franchising your business by clicking on the link below.
If you would like to discuss your responses to these questions and your quiz score with us, we invite you to complete our initial consultation form by clicking on the Contact Us button below, or simply complete the fields below the quiz. Following your submission, we will contact you to schedule an initial call or web meeting to discuss additional considerations and information based on your quiz responses and score. We look forward to speaking with you.

FranSource was founded in 1997 to assist companies across the U.S. in developing successful franchise operations. If you are searching for a comprehensive franchise development solution to assist you in creating a robust franchise operation, we invite you to review our exclusive Franchise Essentials Development Program. Under this program, our experienced team advises and assists you in developing every aspect of your franchise operation. For those companies that qualify, the Essentials Program also reduces the amount of capital required to create a franchise business by deferring a portion of our development fee until you begin granting franchises. Please contact us for additional details or to schedule a free consultation.