Basics of a Howard Johnson Franchise
If you’re thinking about buying a Howard Johnson franchise, there are many things to consider before signing on the dotted line. Becoming a Howard Johnson franchisee is not a guarantee of success, but rather a blueprint that can assist you in achieving success. Given the correct market conditions, skills and dedication, being a Howard Johnson franchisee might be financially rewarding.
Owning a Howard Johnson franchise is a serious commitment and works best when you make a thoughtful, educated decision.
- Just because you love Howard Johnson’s products or services doesn’t mean that you will be able to successfully operate a Howard Johnson franchise.
- Being emotionally attached to the idea of becoming a Howard Johnson franchisee is not a state of mind in which you can effectively evaluate an opportunity.
- Your positive experience as a customer of Howard Johnson should not form the basis for deciding to become a franchisee.
As an example, just because you love Big Macs doesn’t mean that you should become a McDonald’s franchisee.
Are you looking for some free resources to help you determine if a Howard Johnson franchise is for you?
Howard Johnson Due Diligence
You must conduct smart due diligence and determine from a business perspective whether owning a Howard Johnson franchise is right for you.
If you truly want own a Howard Johnson franchise, get all the information you can from Howard Johnson and secure a qualified advisor who has experience helping people like you purchase franchises.
You may also want find that gaining a better understanding of the terms related to franchising would be helpful. If so, you may want to visit A Glossary of Franchise Terms.
Make sure that owning a Howard Johnson franchise fits in with both your skills and life style objectives. If you don’t want to work evening and weekends, don’t purchase an ice cream shop. If you’re an introvert, don’t buy a franchisee that requires you to be extroverted.
Are you interested in more questions to ask Howard Johnson franchisor, Howard Johnson franchisee, or even yourself? Get to know the terms.
Howard Johnson Franchise Disclosure Document
Carefully read the Howard Johnson Franchise DisclosureDocument (Also known as an FDD). They can be intimidating.
As you are reviewing Howard Johnson’s Franchise Disclosure Document you will have a number of calls with Howard Johnson’s franchise team before you will be allowed to call Howard Johnson franchisees.
When you are allowed to call Howard Johnson franchisees make sure you speak to at least five to eight franchisees. You will find that most Howard Johnson franchisees will be honest and unbiased about Howard Johnson. If you would like more information on how to dissect a Howard Johnson FDD consider the following resources:
Does a Howard Johnson Franchise Make Money?
A critical part of your due diligence is to build an estimated P&L (profit and loss statement) and see what the numbers might look like if you become a Howard Johnson franchisee. Reading Chapter 13 of The Educated Franchise teaches you the secrets of this key step.
The decision making tools in Chapter 15 of The Educated Franchise and in Step 13 of The Franchisee Workbook shows you how to honestly evaluate whether or not buying a Howard Johnson franchise is the right move for you.
If you’re serious about becoming a Howard Johnson all franchisee and want to explore owning a Howard Johnson franchise, take the best first step you can and grab your copy of The Educated Franchise today!