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TakingthePlunge
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Hi nikmaricic. Thanks for your response. The franchise is currently a franchisor managed store however they are based interstate so have not been able to give the business the attention it needs (or so it seems). There has been some history with this store that I need to delve into further so there will certainly be many questions to ask. I appreciate your advice and any advice that others may be able to provide.

nikmaricic, post: 210687 wrote:
Taking over a franchise can be tricky, especially if you don’t have experience in franchising. However, there is always “potential” to turn a business around.

The difficulty with turning a franchise business around is that sometimes they have really strict compliance that has to be adhered to. This could involve reporting systems, staffing protocols, marketing, fit-out, etc. These are all things that would need to be assessed to to see how much leeway you have, therefore allowing you to turn the franchise around.

One thing you have to remember is that when the franchise opened, I’m sure the franchisees were really keen to ensure the success of their venture. However, something might have happened along the way to turn things pear shaped. Question is, what was it? Lack of a market? Lack of experience? Lack of head office support?

There are many things to look at when wanting to buy a franchise, but biggest thing to worry about is the compliance.

Whatever question you can think of, write it down and ask it – the answer of one of them could be what ultimately makes up your mind.

Good luck!