How to Evaluate a Pet Franchise in Hillsborough County
Finding the right pet franchise in Hillsborough County for you is no small task. There are many steps involved that can seem like a ton of work. However, taking the time to do this will give you better chances for success when you open the store. Here are a few things you do not want to forget about when you are searching for the right one.
Understand What You Are Looking for
To start with you will want to do a little inward reflection. Think about what you want to gain from owning a pet franchise in Hillsborough County. From there you should break these up into two lists: a want and a need list. By putting the aspects of the business into these categories you will be able to really look at a pet store franchise and see if it is a good fit for you. Once you have narrowed down your list, you are ready to look at the next steps.
The Initial Interview
The first interview you have with the pet franchise will likely take place on the phone, though there are times when this does happen in person. Basically this is a meet and greet setting. The sales rep will take the time to understand who you are, such as your background and what you are looking for and they will also help to give you a better understanding of the franchise. This is the time to ask any initial questions you have about the franchise to see if this is a good match for you. Once this is complete you may even get to take a visit to another franchise so you can see how the day to day operations work.
Qualifying
The next step is a little more involved. The franchisor will generally ask for very specific information about your finances, such as liquid assets and capital in order to understand if this is a business opportunity you can take on. Make sure you understand the information needed by the franchisor so you can move this along as quickly as possible.
Reviewing the FDD and Franchise Agreements
The FDD is one of the most important elements of buying a franchise because it lays out all the information you need to know. This includes the history of the franchise, any potentially concerning legal or financial issues the franchisor is going through, your responsibilities and much more. Make sure you not only understand what these documents have to say but that you are willing to work within these guidelines.
Choosing Your Pet Franchise in Hillsborough County
If you are still deciding between a couple different options, now is the time to make your decision. You will want to look at all the information you have received on these companies to find the one that is best suited for what you are looking for with your franchise. From there, all you need to do is finalize the sale and start working on setting up your store.
