Congratulations. If you’re reading this part, hopefully that means you like what you see and if so, we’d love to talk to you more about the opportunity to franchise a Solomons or Carpet Call store. Not everyone who applies is approved, so it’s important that we all make sure we are on the same page as it is a very important business decision.
Seven Steps of Franchising
Initial phone call. Allow up to 60 minutes. A conversation to find out all about the candidate and about the franchisor. What is the candidate’s motivation for franchising? What locations are they interested in? What is our model and how does that benefit the candidate?
Face-to-face meeting. Within a couple of weeks of the first phone call, it’s important to meet face to face. Franchising is very much like a marriage. Both sides have to be comfortable with each other and can see a long-term future together. This conversation can happen over video call if preferred. Complete confidentiality agreement.
Candidate to conduct due diligence. This may include looking at potential locations, checking out competitors and talking to existing franchisees about the franchisor and the model.
Completion of franchise application form and cash flow projections and payment of a fully refundable $5,000 deposit.
Spending a day with the State Franchise Manager touring state-based warehouse, visiting stores and meeting with franchisees. We will also take this time to go through the franchise application form and cash flow projections analysis.
Agreement to proceed. Remainder of the licence fee to be paid and all information sent to our legal team for preparation of the franchise agreement. Site selection commences. Training plan drawn up. Marketing plan locked in.
Signing of the franchise agreement, orders placed and opening date determined. Training to commence.