If you’ve ever wondered about the viability of franchising as a career choice, you probably have many of the same questions everyone asks. There are lots of misconceptions and myths about franchising floating around that can keep owning a franchise business in the realm of the mysterious.
There’s no reason to stay in the dark about what is or is not true about owning a franchise business. Home Franchise Concepts (HFC) is happy to answer some of the top questions we hear from prospective franchise business owners.
Question One: What is franchising?
Franchising is one of the best ways to start your own business; you work for yourself, but not by yourself. You are supported by a vibrant franchise network that, for 25 years, has been turning out successful, independent franchise business owners around the country.
Question Two: How substantial is Home Franchise Concepts?
HFC is one of the largest franchise systems in North America with over 1,400 franchised territories across all 50 states and Canada, inclusive of all three brands–Budget Blinds®, Tailored Living® and Concrete Craft®. As the world’s best-selling, direct-to-consumer franchise family in the home improvement industry, all three of our award-winning brands are poised for exponential growth.
Question Three: What is meant by a franchise business model?
A franchisee business model is a complete plan, or format, for managing and operating the business. The plan provides step-by-step procedures for major aspects of the business and, anticipating most management problems, provides a complete matrix for management decisions confronted by the franchisees.
With HFC, all three brands operate from proven business models that provide for extensive training and corporate support across every facet of business. Initial two weeks of comprehensive training, ongoing training through online resources and regional meetings, business support teams, Vendor Alliances, comprehensive national and local marketing strategies and much more provide solid business models for success.
Question Four: Are the “look-alike” characteristics of franchises a disadvantage? Don’t consumers want variety?
Increasingly mobile consumers have come to depend on and appreciate the consistent quality of franchised products and services. People expect and want the same quality, so doing business with reputable franchise establishments means no surprises or disappointments.
HFC’s commitment to performance and customer satisfaction is a hallmark of the HFC franchise network so that whenever a customer does business with an HFC franchise brand, they will be completely satisfied. Vendor Alliance agreements assure that the same high-quality products and services are offered at every franchise location for each of the brands. As independent business owners, our franchisees have the flexibility to customize the offerings to best resonate with their communities’ needs at the local level, while backed by the strength of a national company.
Question Five: What should I consider before buying a franchise?
Here are some of the issues to be addressed when considering a franchise opportunity:
- How much it’s going to cost to get into the franchise
- How much you’re going to pay for the continuing right to operate the business (royalty fees)
- The type of experience required
- A complete understanding of the business
- Hours and personal commitment necessary
- Who the franchisor is and what its track record has been
- How other franchisees in the same system feel about their businesses
- What products and services do I need and how are they supplied
All of these questions and more are answered through HFC’s process of investigating the franchise opportunities with HFC. Interviews, applications, the Franchise Disclosure Document (FDD), and Discovery Day at the Home Office in Orange County, California, ensure complete transparency so that you will know everything you need to know to make an informed decision.
Question Six: How can I be sure that the information provided in the disclosure document is truthful and accurate?
Federal regulation requires franchisors to prepare an extensive disclosure document and to give a copy to any prospective franchise purchaser before he or she buys a franchise. Under penalty of law, the franchisor truthfully answers a variety of very important questions you can use to judge the offer.
HFC’s Franchise Disclosure Documents are updated annually as prescribed by law, or at any time material changes occur with the management team, legal obligations or financial situation. This ensures that when a prospective franchisee receives an FDD for Budget Blinds, Tailored Living or Concrete Craft, the information is up-to-date and accurate. A franchise licensing advisor will go over the FDD in detail and answer all your questions and part of the validation process is talking to other HFC franchise owners about their businesses and asking questions.
Question Seven: If I want to buy a franchise, what should I do to get started?
Contact us! We have a team of franchise licensing advisors dedicated to vetting out the best franchise owner candidates and helping them find the right fit. Our franchise licensing advisors are honor-bound to help potential franchisees fully understand the franchising landscape. Start the investigation process by clicking here and follow the steps to possibly change your life!
Franchising with Home Franchise Concepts may be your future. Go online to Home Franchise Concepts or call 1-800-420-5374 today and talk to one of our franchise licensing advisors to see if owning a franchise business is right for you. With HFC, you step into a proven business model with a company that is dedicated to your success. If you’re a veteran, click here to learn how HFC and its family of brands assists veterans with becoming independent franchise business owners.
Note: An independent organization, Franchise Business Review, annually ranks the Top 200 Franchises to buy based on franchisee satisfaction, and consistently rates HFC brands in the Top 200 year after year.