Are you wondering why you need to find a franchise owner? It’s essential for several reasons, including finding a partner or investor.
You may also need a franchise owner to learn about a particular franchise opportunity, to network by finding more insight on how franchise ownership is done, for advice & guidance, etc.
Here is how to find out who owns a franchise.
How to Find a Franchise Owner
Franchise owners play critical roles in expanding the operations of a franchise. They buy the right to join the franchise brand by taking advantage of the offer made by the franchisor.
Knowing how to find a franchise owner is under focus. As an investor seeking to own a franchise, you’ll need all the help you can get, including speaking with existing franchisees.
Franchising isn’t an Individual Journey
When buying into a franchise, it’s necessary to understand that this isn’t a one-person journey. In other words, you’ll need the assistance of critical partners to succeed.
Having a sense of the day-to-day operations of a franchise helps you understand the implications of joining. Also, franchise owners will tell you about the challenges of being a franchise owner.
Finding franchise owners also lets you get advice on choosing the right franchise. There’s nothing like getting the personal views and experiences of persons involved in the business.
This is better than finding out yourself as you can avoid common mistakes. Are there the rewards of being a franchisee? Discuss such with existing franchisees.
Choice of a Niche Helps in Finding Franchise Owners
An excellent place to start finding franchise owners is by first identifying your preferred niche. With a niche preference established, finding existing franchise owners in that niche becomes easier.
There are tons of niches when it comes to franchising. Some of the most popular include automotive, business services, childcare, and education.
Other popular franchise niches include fitness, food & beverage, house cleaning, home improvement, legal services, and landscaping.
You may also be interested in franchise niches like medical services, personal care, quick service restaurants (QSR), real estate, senior care, vacation rentals, travel, tire, etc.
Finding Franchise Owners
Finding franchise owners can be challenging without proper guidance. In this section, we’ve provided the needed help by way of valuable resources you can explore.
These include franchise directories, franchise forums, trade shows & events, online resources, word-of-mouth, franchisor websites, direct contact, and professional networks.
Franchise owners can also be found through industry publications & magazines, franchise resale platforms, franchise social media groups, and chambers of commerce.
Any of these sources hold a wealth of information on franchise owners. Let’s explain each of these sources for more clarity.
i. Franchise Directories
You’ll find comprehensive franchise listings and information on various franchises in franchise directories. These directories make it a lot easier to find relevant franchises from where you can identify franchise owners.
Examples of franchise directories to explore include Franchise Direct, Franchise Gator, and Franchise4Sale.
Other essential franchise directories include Franchise World, Entrepreneur, The Franchise Marketplace, Franchise Business Review, and Franchise.com.
You can also visit directories like Franchise Times, Franchise Opportunities, American Franchise Association (AFA), International Franchise Association (IFA), and Franchise Help, etc.
ii. Franchise Forums
There are platforms where people interested in franchising can visit to ask questions. Here, lots of helpful information are available.
Your search for franchise owners can be done on any of these forums. Examples include Franchise Talk, Franchise Chatter, Franchise World Forum, Franchise Cafe, Franchise Nation, and Franchise Talk Forum.
iii. Trade Shows & Events
Franchise trade shows and events provide the perfect place for finding franchise owners. Each year, franchise trade shows and events are held to allow for networking among franchisors and franchisees.
Examples of such events include the Franchise Expo Canada, The International Franchise Expo, United Franchise Expo, and Franchise 101.
More trade shows & events you can find franchise owners include Franchise Times Show, Franchise Gator, Franchise Expo Europe, Franchise America, and Franchise Expo Latin America.
These franchise trade shows go a long way in helping you connect with franchise owners, thus getting all the information required for taking necessary action.
Word of mouth has always proven to be effective in spreading information. Information is passed through social networks like family, friends, and social media.
Word-of-mouth can also be a valuable tool for finding franchise owners through satisfied customers, franchisor-sponsored events, and social media.
v. Franchisor Websites
Your quest to find franchise owners can be taken to franchisor websites of your choice. For this to be effective, your search must be more refined.
In other words, you’re expected to have picked a niche and specific franchise. You’re informed about the processes of visiting these sites and making inquiries.
It’s important to note that access to franchise owners using this method is only possible after fulfilling specific requirements during the application process.
The franchisor then arranges a visit to its franchisees, where you meet and discuss with them.
This procedure might be demanding or impossible for some, especially when they need to meet franchise owners immediately.
vi. Direct Contact
As the name suggests, direct contact lets you speak directly and get personalized advice on your franchise questions. You’ll need to know a franchisor who can help with that.
This is a much quicker way to get advice about a franchise opportunity. Plus, you also get to establish mutually beneficial relationships with existing franchisees.
vii. Professional Networks
You connect with people with franchising experience through professional networks while finding support and encouragement.
Some professional networks to visit for information include The Franchise Business Review, International Franchise Association (IFA), Franchise Update Media, Franchise Chatter, Franchise World Magazine, etc.
viii. Industry Publications & Magazines
Other valuable resources for finding franchise owners include industry publications & magazines. Examples of these are the Franchise Business Review and Franchise Times.
Others include Entrepreneur, Franchise World Magazine, Inc., Forbes, The World Street Journal, Investor Business Daily, Businessweek, Franchise Pros, etc.
ix. Franchise Resale Platforms
Also called marketplaces, franchise resale platforms are valuable resources for finding franchise owners. Here, you get to buy an existing franchise business from an owner.
This offers a quick way to connect with existing franchisees. Examples of resale platforms to visit include FranchiseHelp, Franchise Exchange, Franchise Direct, Franchise Gator, etc.
Finding franchise owners shouldn’t be difficult if you follow and use the tips & resources provided above. It’s a great way to join a franchise and provides valuable information that allows you to choose the right franchise to invest in.