If you are thinking of investing in a health and wellness franchise but you do not know how to go about it, you should interview a franchisee in that department. Here are some tips on how to interview franchisees.
- Obtain the Franchise Disclosure form from the health and wellness franchisor as it contains the names, phone numbers and emails of the franchisees.
- Interview franchisees from the list to get a balanced opinion.
- Prepare your questions to the franchisees and keep your interview short.
Aaron Forinash, a well-known franchisee who franchised Fitness Together, Elements Massage, and FI36 with his business partners, suggested these questions are most effective when it comes to getting the right information before you decide in investing in any health and fitness franchise.
- How long have you been operating?
- Did you purchase an existing franchise or open it yourself?
- How much net revenue do you make?
- How has your franchise done in the last three years trending?
- What is your schedule like each week?
- Do you work at a studio or remotely?
- Do you travel for work?
- Do you have a manager?
- Do you have business partners?
- What did you do before owning your franchise?
- What is your degree in?
- What kind of support does the franchisor provide?
- Do you have systems in place to accomplish LSM, digital marking, and CRM?
- Are other franchise owners nice and easy to work with?
- How are you going to sell your franchise when you want to?
You do not need to ask all these questions, only the ones that are relevant to the topics that matters to you.
Health and wellness industry is worth $3.7 trillion globally, this opens opportunities for entrepreneurs to achieve their professional dreams. No one can foretell how successful your franchise will be, but insights from existing franchisees will help your decision to invest.
Source: Franchising.com
Want to know what are the fitness brands available to the franchise in the region? Visit our Brands Focus page.
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