Selecting a site for your Franchise will have a lot to do with determining your success. Prospecting the areas demographics and matching them with the most successful Franchises in your Corporation is essential. This information is very well documented and the more Franchises owned the more documentation and statistics will be available.
You know what they say: Location, Location, Location….
Whenever choosing any piece of real estate location plays a tremendous role. Here are 3 ways you should go about choosing your location.
3 ways to choose your location
1) It is recommended that you look to utilize the franchisor to help find and negotiate a location since they have the experience and also have a vested interest in your success. The experience a franchisor can also bring commercial brokers to your aid.
2) You will want to analyze the locations demographics, have an understanding of the area, know traffic patterns and even future building plans to help assist you in your decision. A franchisor can also help with negotiations to help you get a lease that makes you comfortable.
3) Take into consideration the details of the lease for your desired location