There is no magic number. You can investigate three educational franchises or thirty. You can talk with four franchise owners or forty. You can visit five educational franchises or fifty.
At some point during your evaluation process, a picture will begin to emerge: Great educational franchises share certain characteristics. Consider these five characteristcs:
Characteristic 1: The Franchise Is Thriving
Why it’s important: Growth signifies three vital realities: Customers like what a franchise has to offer, the franchise is well managed at the top, and there is an expansion plan in place. It’s worth taking a close look at that expansion plan to ensure that while the goals are assertive, they are sensible and realistic. Joining the ranks of a franchise that is steadily raising its profile—and, presumably, its revenues—portends great promise.
Characteristic 2: The Franchise Consistently Introduces New Products or Services
Why it’s important: It’s called innovation, and a well-managed franchise works hard to maintain its competitive advantage by adapting to changing market conditions and consumers’ wants and needs. An important proviso: You might not like or agree with every new roll-out. What’s important is that substantial market research exists to support the new offering.
Characteristic 3: The Franchise Offers Substantial Support, Especially with Regard to Marketing
Why it’s important: There probably isn’t a franchise owner in America who doesn’t know his or her way around at least one marketing how-to book. But knowing how to do marketing is one thing—finding the time to execute a marketing campaign is another. This is when support from the top can be priceless. Most marketing purists understand the virtues of developing an active marketing calendar—and you should, too. Focus on programs and ideas designed to engender client satisfaction and loyalty.
Characteristic 4: The Franchisor Sets Realistic Expectations while Allowing for Personalization
Why it’s important: You can understand this from the franchisor’s point of view: He or she has championed a winning business strategy, and franchises represent an opportunity to replicate it. So franchisors insist that certain protocols be followed to the T, a safeguard that also preserves the brand’s integrity. But somewhere in the mix, the franchisor should be willing to bend the rules to allow for creative input and personalization. Even two franchises located in the same community can cater to vastly different client bases.
Characteristic 5: The Franchisor Encourages Regular Communication with Franchisees
Why it’s important: Discerning promises from reality can be tricky; it’s easy to buy into a pledge of an open-door policy when you want to believe that one exists. So trust but verify: Talk to other franchisees to learn whether their ideas and suggestions are welcomed and valued. A franchise that keeps its finger on the pulse of clients will be better equipped to adapt to shifting wants, needs, and priorities. Scratch the surface and look for earnest signs of availability, including easy access to phone numbers and email addresses and regular meetings.
Turn to New Horizons
If you’re looking for a franchise that displays all five of these characteristics, look no further than New Horizons. With 300 locations across more than 70 countries, New Horizons allows you to align your business with the industry leader in computer training. New Horizons has cultivated a reputation for superior classes and facilities to secure a spot in the top 5 percent of all computer training/educational franchises.
When you reduce your magic number to one—the last and best franchise for you—that franchise will be New Horizons. Interested in learning more about becoming a part of this growing and thriving industry? Then visit our website today!