Mass retirement doesn't only affects employees: it has an impact on franchisees, too. Many franchisee-franchisor contracts are coming to an end, creating attractive opportunities to purchase existing franchises.
With such a large pool of possibilities, why not buy a business currently operating in the franchise industry? Not to mention investing in a reputable business that already has an established clientele, employees, and recurrent revenue. You become your own boss and enjoy the advantages of belonging to a network: a formula, a brand, mentorship, and proven expertise.
Before buying a franchise, it's important to carefully choose the brand you wish to join, because the success of a network depends primarily on the level of commitment and the relationship of trust between the franchisor and the franchisee. To be successful and get the most out of your association, your aspirations must match those of everyone else in the network: the franchisor and the franchisees. Choosing your franchise therefore not only involves assessing the potential income, but also determining what you wish to accomplish and experience daily. Simply put, you should apply to franchise networks that really suit you, and for which your expertise will allow you succeed in business.
But how can you easily identify the brands that meet your values and your needs? It can be hard to remember all the important criteria to consider when buying an existing franchise. Here is some information that you may need BEFORE you apply to buy an existing franchise:
- Will you have a good affinity with the franchisor?
- Will the other members of the network take the success of their franchise and the reputation of the chain as much to heart as you?
- Does the pace of life required to manage of the franchise really fit your requirements?
- Will the work environment suit you?
- Will the challenge meet your expectations?
- Do you have the strengths and personality to purchase an existing franchise?
FlagFranchise is an innovative tool that analyzes franchise business opportunities to detect those that best meet your expectations and requirements. Recruiting good franchisees represents a significant challenge for many franchisors. For this reason, several networks pay close attention to the needs of their prospective franchisees before signing a contract.
The concept is simple: by recruiting candidates who have the same values and aspirations as other franchisees in the chain, they increase their chances of creating a network within which the franchisees are happy and successful. That's how they can grow the business. FlagFranchise helps potential candidates to establish a mutually beneficial relationship with their future franchisor.
7 satisfaction factors
FlagFranchise has identified 7 factors that influence the satisfaction of parties in a franchise business partnership. Its algorithm automatically measures your compatibility with available franchises based on the following criteria:
- Your budget;
- Your expectations;
- Your skills and experience;
- Your affinities;
- Your entrepreneur profile;
- Your lifestyle;
- The desired location.
When you review a business opportunity, FlagFranchise tells you if each of these 7 elements meets your requirements. Then, it's easy to decide if you want to apply for that franchise. In addition, this approach allows you to discover franchises that would not have attracted your attention otherwise, but that fit what you are looking for.
How does it work?
Using FlagFranchise is simple and free. First, you need to create your profile, which consists of completing a short questionnaire about your expectations and requirements based on the 7 factors of entrepreneurial satisfaction mentioned above. C'est également à cette étape que vous devez fournir certaines informations qui seront remises aux franchiseurs potentiels lorsque vous poserez votre candidature : votre CV, vos coordonnées et, si vous le désirez, un lien vers votre profil LinkedIn. Registration only takes a few minutes.
Once your registration is complete, our algorithm assess all the business opportunities published on our site to measure your potential compatibility with franchisors that are recruiting. The compatible franchises are displayed in your dashboard under the tab "These franchises might interest you." We also send you an email notification whenever a franchise compatible with your requirements is available.
We also provide you with an overall compatibility score for each business opportunity presented. You can then easily decide if you wish to apply.
If you decide to apply for a posted business opportunity, all you have to do is click on a single button. Your application will be immediately sent to the franchisor in question. The franchisor can then access your level of compatibility with the franchise and the information on your profile: your CV, your LinkedIn profile, and your contact information. Franchisors interested in your application can contact you directly to follow up.
As new opportunities arise, our tool assesses your compatibility with these new business opportunities.
Ready to find the franchise of your dreams? Create your profile today!