How’s a franchise location evaluated?
answered by Louise Harris
Head of strategic partnerships at easyStorageLouise Harris writes:
A franchise location, or territory, can be based on a number of criteria, including number of people living there (possibly categorised into social bands), average pet owner figures, number of commercial and/or residential properties, number of local businesses, distance from another fast food restaurant, ageing population data, etc.
In the case of a retail premises, there should be a guide on passing footfall or similar measures that help build the ‘perfect’ location. A franchisor should always be open about this and it’s important you understand, when buying the franchise, the nature of your territory.
The location should be based on the best information available. In a young franchise (new or with only a few sites open), this information should have been informed by a pilot franchise, but should be developed by the franchisor as more analysis on a successful (or indeed unsuccessful) territory can be made.
Even when that data has been gathered, the franchisor is unlikely to make any guarantee of success. You should be asked to research your area and satisfy yourself there is both a need and sufficient territory to satisfy the goals of the business, either set by the franchisor or you.
Louise Harris is the former franchisor of Wilkins Chimney Sweep. She’s also been a franchisee and franchise induction and support training provider.
- Can a franchisee own more than one franchise from more than one brand?
- What information should a franchisor’s operations manual contain?
- What do I have to do before I can franchise my business?
- What information must a franchisor provide to a prospective franchisee?
- Under what circumstances can I terminate a franchise agreement?
Want to be your own boss? Start today!
-
_(1)_94_100.png)
The Strings Club
A multi-award-winning music education and childcare company ... find out more
£8,995 Minimum Investment -
Fantastic Services
Fantastic Services provides a range of home services – from cleaning and gardening to pest… find out more
£2,000 Minimum Investment -
Monkey Puzzle Day Nurseries Ltd
Network of nurseries catering for children from three months old that provides a stimulating… find out more
£300,000 Minimum Investment -
Aspray Limited
Aspray is an award-winning claims management provider that has developed into a successful… find out more
£28,000 Minimum Investment
Enquire now from
You have pending
More from our business portfolio
Here's just five reasons why you should join our FREE newsletter!
-
New articles added every week
-
Hand picked franchise opportunities just for you
-
First class help and advice for franchising and business
-
We have the industries best contributors on board
-
Inspiring and insightful franchise case studies