Is a Franchise Business Expo Worth My Time?
It can be incredibly overwhelming when you are shopping for the right franchise opportunity. In every industry, there are thousands of potential companies, with an investment to suit everyone – but where do you start?
When you are conducting franchising research, a franchise business expo (or franchise show) offers a convenient way for you to find out what opportunities are available in your area. Not only are there hundreds of potential franchises contained in one place, but these expos are often enhanced with networking events and seminars that are invaluable to all prospective franchisees.
To make sure a franchise business expo is worth your time, here’s what you need to do:
Finding a Franchise Opportunity at a Franchise Show
The first thing you need to do is find the right franchise business expo for you. There are some large events, such as the Multi-Unit Franchising Conference or the International Franchise Expo. Here you will find hundreds of the top franchises, which attract a lot of key speakers and industry leaders.
However, it is also worth looking for local franchise trade shows, as this will give you a better idea of which franchises are available in your area. These will feature regional franchises as well as national ones, and there may be financial incentives on offer.
Conduct Research Before You Attend an Expo
Once you have found the expo you want to attend, it is crucial you conduct some research beforehand. Get a list of the franchise show’s exhibitors, and browse your way through it, deciding which franchises you are potentially interested in. Then look at these franchises in more detail, and jot down any questions you might have about them. This will help you maximize the opportunity you have when you meet these franchisors at the event.
Gathering Your Notes After a Franchise Trade Show
After you have attended a franchise show, take some time to review the information you gathered. Look through all the materials and notes, and put together a shortlist of the franchises you like. Rank them according to criteria important to you, like the industry they are in, the amount of money you need to invest, and the types of franchisee support they offer.
Once you have done this, you are ready to start having in-depth conversations with each franchise. Normally, when you have chatted with a franchise at an expo, they will follow up with you via phone call. If you receive this call within a week or so after the expo, this is a pretty good indicator that they are interested in you as a potential franchisee. It is also a strong sign that they are on the ball, and are going to support you throughout the entire franchise set-up process.
When you are looking for your next franchise opportunity, an expo is definitely worth your time. You just need to do some thorough planning and research beforehand to make sure you get the most out of the event.