Investing in a franchise opportunity is a great way to be in business for yourself without having to deal with many of the responsibilities of business ownership on your own. An Executive Home Care franchise opportunity comes with built-in perks, like expert marketing help, established processes and procedures, industry expertise, and more. Still, it’s important to vet any franchise opportunity you’re thinking about, and there’s no better way to do that than by asking questions directly of a franchisor.
At Executive Home Care, we always welcome your questions about our brand and our industry because it means you’re serious about a possible investment with us. Here, we’ll look at a few of the more important questions you should ask of us or any franchisor.
What Does the Home Care Franchise Industry Look Like?
Some of the most important, if not the most important questions potential franchise owners should ask a franchisor are those that have to do with the industry the brand sits in. Why? Because the vitality of an industry will determine just how successful you’ll ultimately be in it. Your industry questions should include:
- Who is the industry’s best customer?
- How resilient is the industry?
- What kind of growth has the industry seen?
- How does the brand compete in that industry?
- What is the brand’s standing in it?
- What plans does the brand have for growth in the industry?
There is a wide spectrum of industries to choose from when deciding on a franchise opportunity, and these kinds of questions will go a long way toward helping you narrow down your choice. That said, an Executive Home Care franchise opportunity takes advantage of the robust senior care industry and will position you as a leader in it.
What Do the Numbers Look Like?
It goes without saying that some of the most relevant franchisor questions you’ll want to ask will be about the investment itself or what the numbers look like (and get you!). Questions that have to do with money should include:
- What is the franchise fee?
- What are the monthly royalty and advertising fees?
- How much working capital will you need?
- What net worth is expected of you?
- What will any supplies, fixtures, and inventory cost?
- What are the buildout costs, if any?
Your questions should be aimed at nailing down as closely as possible what your startup costs will be and what it will cost you each month to do business as part of a brand. The more clearly you understand and define your financial obligations, the better.
We believe in complete transparency when it comes to your Executive Home Care investment and are happy to provide you with a copy of our Franchise Disclosure Document, which contains a complete breakdown of costs.
What Are the Brand Differentiators?
Every brand should have something to offer consumers that competing brands in the same industry do not. These are called value propositions, and they’re what franchise investors look for when comparing opportunities. You should make sure to ask a franchisor what its competitive advantages are, with questions like:
- What kind of proprietary technology, products, or services does the brand offer?
- What kind of research and development do brand leaders conduct?
- How often does the brand introduce new products or services?
- How time-tested is the business model?
- What sorts of vendor relationships does the brand have?
You can ask a prospective franchisor any number of questions, and the more you get answers to, the better. Questions like the ones we’ve just identified will not only help you decide on which brand to partner with but will also prepare you for what’s expected of you as a franchisee.
Do you have questions about our Executive Home Care franchise opportunities? We’re here to answer them, so get in touch today!