7 Resources to Help Explore Franchise Opportunities

Have you decided to sign up for a franchise business? Identifying a suitable franchise opportunity is a challenging task, since most prospective franchises are not aware of whom to trust and how to research opportunities. 

Here are some reliable sources to explore franchise opportunities.

Franchise Resource 1: Publications

There are reputed franchise magazines which provides in-depth insights into franchise opportunities. 

Publications like Inc and Entrepreneur have detailed information on franchise brands that you can choose from. Also, there are websites like franchisenow.pro that offer advice, how-tos, and ranking of those particular franchises.

Franchise Resource 2: Trade Shows

A franchise trade show will provide you with the preliminary information required for choosing a franchise business. Make use of trade-shows to collect as much information as you can, if there is one close to your location.  

Franchise Resource 3: Research Reports

Research reports are available for every industry and for the franchise industry, IFA (International Franchise Association) produces yearly research reports. 

Make use of research to understand franchise business trends and access economic forecasts, both national and regional.

Franchise Resource 4: Associations

Franchise associations like Coalition of Franchisee Associations, the International Franchise Association, the American Franchise Association, etc. provide detailed information on each and every aspect of franchising.

These association websites and publications can be of help in your search to find the right franchise business.

Franchise Resource 5: Franchise Consultants

A good franchise consultant would be an expert in finding suitable franchise opportunities based on your budget, interests, industry trends, and more. 

It is also important to be aware of franchise consultants who have a reputation of misleading gullible prospects on behalf of unscrupulous franchisors.

Franchise Resource 6: Franchisor Websites

Once you have identified broad business areas to explore, then franchisor websites can also be good resources to drive the second phase of your search.

 You can gather information on financial requirements, startup costs, and available territories from these websites.

Franchise Resource 7: Franchise Portals

You can avail detailed lists of franchises that are available for sale, grouped based on the industry, price, products/services, and many more on Franchise portals. 

These portals allow franchisors to promote their brands, so you need to differentiate promoted content from generic information. 

For more information on the resources that can help you explore the right franchise, Contact Us.