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.
Completion of Franchisee Candidate Information Request form via our online portal. Sign 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. Spending time with the State Franchise Manager touring state-based warehouse.
Complete online Self Assessment Questionnaire. Complete cash flow projections. Formal franchise approval interview with the National Franchise Manager. Payment of a fully refundable $5,000 deposit.
Agreement to proceed. Remainder of the initial licence fee to be paid. Site selection commences. All information sent to our legal team for preparation of the franchise agreement. Training plan drawn up. Marketing plan locked in.
Signing of the franchise agreement, orders placed and opening date determined. Training to commence.
Following the seven-step process should take approx. 30-90 days, depending on the candidate’s urgency to make a decision. At Floor Stores, we are with the candidate every step of the way to offer advice and support and we will always work to the timeline of the candidate.