Basics of a Select Franchising Franchise

If you’re thinking about buying a Select Franchising franchise, there are many things to consider before signing on the dotted line. Becoming a Select Franchising 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 Select Franchising franchisee might be financially rewarding.

Owning a Select Franchising franchise is a serious commitment and works best when you make a thoughtful, educated decision.

  • Just because you love Select Franchising’s products or services doesn’t mean that you will be able to successfully operate a Select Franchising franchise.
  • Being emotionally attached to the idea of becoming a Select Franchising franchisee is not a state of mind in which you can effectively evaluate an opportunity.
  • Your positive experience as a customer of Select Franchising 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 Select Franchising franchise is for you?

Select Franchising Due Diligence

You must conduct smart due diligence and determine from a business perspective whether owning a Select Franchising franchise is right for you.

If you truly want own a Select Franchising franchise, get all the information you can from Select Franchising 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 Select Franchising 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 Select Franchising franchisor, Select Franchising franchisee, or even yourself? Get to know the terms.

Select Franchising Franchise Disclosure Document

Carefully read the Select Franchising Franchise DisclosureDocument (Also known as an FDD). They can be intimidating.

As you are reviewing Select Franchising’s Franchise Disclosure Document you will have a number of calls with Select Franchising’s franchise team before you will be allowed to call Select Franchising franchisees.

When you are allowed to call Select Franchising franchisees make sure you speak to at least five to eight franchisees. You will find that most Select Franchising franchisees will be honest and unbiased about Select Franchising. If you would like more information on how to dissect a Select Franchising FDD consider the following resources:

  • The Educated Franchisee Chapter 8 – ' Dissecting the Franchise Disclosure Document' - Click Here
  • The FDD Exchange - Franchise Disclosure Document Checklist' - Click Here
  • PodCast with Franchise Attorney Nancy Lanard – 'What to look for in a Franchise Disclosure Document' - Click Here

Does a Select Franchising 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 Select Franchising 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 Select Franchising franchise is the right move for you.

If you’re serious about becoming a Select Franchising all franchisee and want to explore owning a Select Franchising franchise, take the best first step you can and grab your copy of The Educated Franchise today!