Frequently Asked Questions

We are first and foremost advocates for franchisees.

We do not get paid if you decide to buy a franchise.

We are not affiliated with any franchise in any way.

 If you decide to buy a franchise, great.

If you decide not to buy a franchise, great.

We get no money either way.

We just want you to decide, as a family unit, that buying a franchise is the right step for your family to take. No business EVER, should cost you your family.

We respect and applaud franchisors for building great businesses but we are there to help you to buy the right business for you and your family. We are not accountants, lawyers, or salespeople/brokers for franchisors.

We help families decide which franchise business to buy that will meet their financial goals and suit their needs as a family. We then provide assistance in operating your business by helping you to set up processes and systems that most franchisors do not help you with.

Our aim is to have informed and passionate franchisees who own successful businesses. We have seen many family issues within franchises and that is THE pivotal reason for the creation of The Franchise Parentpreneur.

 Our first step:

We have a chat with you and your partner about why a franchise, how you both feel about buying a business, what you are excited/worried about, etc. Link to consultant form.

 If you decide you like us and trust us, then we work alongside you through the research and buying process:

1st – WHY      Why are you considering a franchise?

2nd – WHO     Who in the family is the driving force behind this decision and is everyone on board?

3rd – WHICH Which franchise has caught your eye, if one at all, and what is it about that franchise that they like? What information do you have about this franchise?

4th – EXPECTATIONS         Do your expectations match the reality of owning a franchise, based on our experience.

5th – YES OR NO     Do you move forward and begin the application process with the franchisor, or do you (as a family team) decide that this is not the right move for you.

 Ongoing Mentorship:

The first three months especially can be a massive learning curve. We can be by your side during this time so that you don’t lose your mind! We can help with setting up systems, ideas for staff training, etc.

 Some franchises will provide area managers/business consultants to give you ongoing support. Others don’t. These area managers often have anywhere between 6-30 locations to look after and the amount of time they have to spend just with you is low. This can leave new franchisees feeling unsupported and overwhelmed, leading to buyer’s remorse. You can have us be focused just on you.

Also, many of these area managers have varied experience and the majority (in our experience) have not been business owners. Their role is to make sure you are sticking to the franchise rules and can’t empathize with you as a stressed out business owner.

The simple answer is not everything is done for you in a franchise. This is one of the biggest misconceptions of franchising and the roles in the franchisor/franchisee relationship. The franchisor is in the business of selling franchises and increasing royalty amounts by ensuring you grow your business, not looking after your financial and personal goals. Yes, they need successful franchisees, but if push comes to shove, they will look out for their business and brand over you. So YOU need to make sure you are looking after you.

In this relationship the rules do favor the franchisor, which makes sense as they have a brand they need to protect. You just need to make sure that your chosen franchise is sound and can provide the results you need. You need to be able to look past all the glossy brochures and see the real picture. That is where our experience can help you.

 As mentioned above, some franchises will provide area managers/business consultants to give you ongoing support. Others don’t. These area managers often have anywhere between 6-30 locations to look after and the amount of time they have to spend just with you is low. This can leave new franchisees feeling unsupported and overwhelmed, leading to buyer’s remorse. You can have us be focused just on you.

 Also, many of these area managers have varied experience and the majority (in our experience) have not been business owners so are really there to make sure you are sticking to the franchise rules and can’t empathize with you as a stressed out business owner.

We generally work with 3 type of clients:

 The husband (driving force) comes to us

Typical story –

“I am the sole bread winner. I hate working so much and not seeing my family. I want to be my own boss and have more control.

My wife is nervous about me quitting and is not really on board.”

Link to More information – Driver FAQs checklist/workbook

Wife (reluctant partner) comes to us  –

Typical Story –

“My husband wants to buy a business and all I see is these ‘coaches or advisors’ out there that want to sell us something and I don’t trust or connect with them. I want to know what it is really like, how much money we can really make, and how much he will have to work.

He is the main bread winner and this makes me nervous.”

Link to More information – Reluctant partner FAQ post

Couple (both on board) comes to us

Typical story –

“We want more control over our lives, so we are looking at buying a business. We are both working crazy hours, we don’t have much time with our kids or each other and something has to change. We are sick of working our guts out for someone else. We want to put all that effort into something for us.”

Link to More information – We are ready to build something for us FAQ post

We work to make sure everyone is on the same page in this decision. Business is hard on its own, without having problems on the home front. We have seen divorces happen because of the stress a business can bring into a family. We work to make sure this doesn’t happen to you.

NO! We are not associated with any franchises and therefore we are not biased for or against any business or operators. We look at each franchise you are considering to see if it will help you reach your financial and personal goals. Link to FBB
Franchising is a relationship between the owner/creator of a business (the franchisor) and you (the franchisee). The franchisor has a proven method of operating a successful business and they will license that business name (and operational systems) to you for a fee. That way the franchise can grow to many more sites and improve brand recognition and you get to make money too.
Franchising suits those who want to buy a business because they want to be their own boss and are focused on the business side. It helps dramatically to your success if you have a passion for the product/service but you have to understand that you are buying a system and you might not have a lot of say about what you produce or provide to your customers. You have to be ok not having a lot of creative freedom and be good at following the established system and not rocking the boat.

 For example if you are a pastry chef and love coming up with new and spectacular desserts then buying a bakery franchise might not suit you because you can only produce what is in the recipe book to the franchisor’s specifications.

Link to SYBAF

That’s the million-dollar question!

Everything we do and talk about is from our own experience. For us, franchising works. We like operating within a system and leveraging a faster result in profit by using a known brand, versus beginning something on our own.

Since 2000 we have we have personally been franchisees in 3 franchised systems (one of which we have owned in two countries) so we know the power of franchises and how they can help you to succeed. Some of these have been extremely successful and a couple have not been profitable and caused many sleepless nights. We still believe in franchising though because of what it can do for you and your family.

According to many in the franchising world, you are infinitely more likely to succeed in a franchise than if you open your own business. However, according to the Small Business Administration in the US the success rates are similar and that the once touted 95% success rates for franchises is flawed and inaccurate.

Having said that, franchises offer you brand recognition, an existing customer base along with support, training, and systems that increase the time you can spend building your business rather than trying to put all the pieces of running a business together yourself.

These are some of the questions that we can also answer for you.

How much money do you make in a franchise?

Do you really get more time with family in a franchise?

What is the day to day running like?

What is the franchisor like and what do they do for you?

How hard is it to get staff?

Can you look at these figures from the franchisor and tell me if this is a good business to buy?

Are you happy in this franchise?

Are you glad you made the decision to be a franchisee?

Is it hard to learn everything in the training time that they have with you?

Is there someone who can help me get everything sorted out once I open?

Is it a good idea to work with your spouse?

How does this franchise compare to some others that you have been in before?

Why did you get out of those franchises?

Was it hard to get financing for your franchise?

Was it hard to find a buyer for your franchise?

What process does the new buyer have to go through with the franchisor to be approved?

Is the marketing department good at doing all the advertising?

Is your business growing?

How does this franchise stack up against other competitors?

How much support do you really get from the franchisor on going?

How much are the royalties and what do they pay for?

We work to answer these for your chosen business so that everyone in your family is satisfied and are on board with this move so that everyone is comfortable with the decision to buy a franchise and be supportive.