On your journey to becoming a franchise owner, several checkpoints can significantly influence your decision when evaluating which industry and franchise business to choose. One of those checkpoints is the franchise interview.
While the word “interview” can evoke some uneasy emotions for some, think of a franchise interview as a more in-depth conversation. It is an opportunity to meet with the franchisor (or franchising team) of the business you’re interested in and dig deeper into the opportunity. What makes it an interview, however, is the franchisor will assess whether they think you are a good fit for their network. Similarly, it is also an opportunity for you to assess the franchise and determine if you want to proceed with your investment.
Preparing for a franchise interview can be a great way to feel more confident going into it and help ensure you obtain the information and details you need during the interview. Keep reading to find out what to expect from your conversation and how to come prepared.
A franchise interview typically comes after there has been some contact between you and the franchisor, like via an inquiry form and/or a follow-up call, which means your finances will have likely already been highlighted in the information you provided. However, during a franchise interview, expect to discuss this further to ensure that you meet the financial requirements of the franchising opportunity.
Questions on your financial standing, such as your liquid capital and net worth, may be raised during the interview. Be sure to have this exact information on hand, including updated documents that can verify you meet the financial requirements. Let the franchisor know how you will fund the investment, and be sure to bring up any questions you may have regarding your investment and financing options.
ASSESSING YOUR EXPERIENCE
In many cases, you do not need business ownership experience or direct experience in the industry you’re interested in to become a franchisee. However, during a franchise interview, you may be asked about your previous career experience, some of your roles and responsibilities, the skills you obtained, etc.
Be prepared to discuss how your experience and skills can help you in a franchisee role, such as when you led a team, followed certain guidelines, or directly interacted with the public. Conveying these past experiences in a franchising context can help showcase your value.
OUTLINING THE BASICS
Remember, a franchise interview is just as much of a chance to get to know the franchisor and the business as it is about the franchisor getting to know you, so you can expect to receive some form of a rundown outlining what business operations can look like, further details about the products/services, training and support, and more.
When in the process your franchise interview is held can dictate how much information you are privy to, but a basic outline is often given so you can better understand the franchise and what a franchisee role entails. This is your chance to speak directly to the source—find out what a day typically looks like in the franchisee role, what your responsibilities would be versus the franchisor’s, if ongoing support is provided on top of initial training, what revenue typical franchisees can expect, etc.
PLANNING FOR THE FUTURE
Thinking long-term may be an inevitable part of the franchise interview—for both you and the franchisor. For the franchisor, they may ask you about your plans for the next couple of years, if you plan on retiring in your role as a franchisee, if you are considering investing in multiple units, etc. From your perspective, you may want to ask the franchisor their plans for the franchise: Are they expanding into new territories in the coming years? Planning to increase franchisee acquisition? Introducing new products/services?
While it can be important to discuss the “here and now” of the franchise opportunity, seeing where things are heading can also be beneficial. For example, is the industry you’re interested in advancing year-over-year? Attend the interview armed with research; if the industry shows negative projections, ask the franchisor what their plans are to buck the trend, and if the industry indicates positive projections, determine how the franchise plans to remain ahead of the curve.
SHOWCASING YOUR PASSION
In a franchise interview, you have the chance to explain why you chose to explore that particular franchise and why you’re interested in the industry. Take this opportunity to showcase your enthusiasm and excitement, as passion often translates into success. Come to the interview with genuine interest and eagerness and see if you and the franchisor can make a positive connection.
While the interview will primarily include questions directed toward you, there should also be a chance for you to ask questions. Be sure to come prepared with a list of questions you want answered; uncovering details you could not find online can be a great starting point.
Questions such as the expectations of their franchisees, what a franchisee’s success rate or earning potential is, how they protect territories, and what ongoing support looks like, for example, may help your decision-making. Getting into the specifics might not be available during this time, but receiving details directly from the franchisor can help optimize the interview experience.
FRANCHISING WITH DOGTOPIA
If you are interested in joining the Dogtopia team of franchisees across North America, check out our Next Steps page for a step-by-step overview of what you can expect when pursuing a franchise opportunity with us. You can also begin the process by filling out our online inquiry form, which includes the opportunity to tell us a bit about yourself and if you meet our requirements.