The latest episode of NIC Local’s Local to Leader podcast is now available, helping prospective franchisees understand how to properly research and assess a franchise opportunity before making a significant investment.
In Episode 3, franchise experts Phil Harrison and David Paulson explore some of the most common mistakes prospective franchisees can make when choosing a franchise and share practical advice on how to carry out effective due diligence.
The episode looks at why attending franchise exhibitions can be valuable when comparing different opportunities, what prospective franchisees should look for during a Discovery Day, and why speaking directly to existing franchisees can provide valuable insight into the reality of running the business.
Phil and David also discuss the importance of understanding franchise financial performance, assessing the level of support provided by the franchisor, and considering the experience and track record of the founders and leadership team.
A key part of the episode focuses on the questions every prospective franchisee should ask before investing, helping viewers look beyond polished marketing materials and assess whether a franchise is genuinely the right opportunity for them.
The episode also explores franchise red flags, the importance of BFA accreditation and why thorough research should be an essential part of every prospective franchisee’s decision-making process.
Whether you are considering buying your first franchise, comparing several franchise brands or simply want to learn more about franchising, Episode 3 provides practical guidance to help you make a more informed decision.
Watch Episode 3 of Local to Leader now and hear Phil and David’s advice on how to avoid choosing the wrong franchise.