Visiting a franchise trade show is a great way to gather a lot of preliminary information and survey what’s out there in the franchise world in a short period of time, and you can find them in most cities. The National Franchise and Business Opportunities show will be in Boston on Saturday and Sunday October 13th and 14th. The show will be open from 11:00 am – 5:00 pm.
The National Franchise and Business Opportunities Expo is great for those who are considering owning their own business.
When attending a franchise trade show, keep a few things in mind. The companies exhibiting at the show do not make up all the franchise opportunities available. A franchise trade show showcases only a limited selection of the 2500 franchise programs out there.
You should take the opportunity to hear why the franchise representatives feel their opportunity is worth investigating. Ask questions about the business model, and the outlook of the industry.
Use these guidelines to help you make the best of your franchise trade show visit.
Before you attend the franchise trade show:
- Identify what your “must have priorities” are!
- Identify your financial situation. What is liquid, what can you borrowed from family and friends, and how much do you need to live on? What are your financial requirements?
- Be serious. Dress conservatively, leave the kids at home, and take business cards if you have them. Show the representatives you meet that you’re a serious prospect.
At the franchise trade shows:
- Look at the floor plan of the exhibitors listed. Check off the businesses you recognize or that look interesting to you.
- Don’t waste time. Pass by the franchisors who are out of your price range or don’t meet your “must have priorities”. Prepare a short list of questions: 1. what is the total investment required? 2. Tell me about a franchisee’s typical day. 3. What are the prospects for the industry future? 4. Is financing available from the franchisor?
- Collect printed information from all the companies that interest you.
After the franchise trade show:
- Organize the materials you collected.
- Follow up. Visit the websites and call the franchises to gather more information.
A franchise trade show is a great way for you to introduce yourself to some of the many franchise opportunities available.
Cross Posted at: Let’s Talk Franchising
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With over 25 years of franchise, marketing, and entrepreneurial experience, and the owner of Franchise Perfection, Jim Coen, brings key skills to franchise consulting for those interested in buying a franchise business opportunity.
Jim has been a franchisee, worked for franchisors, ran a multi unit operation for a franchisee, and served as a franchise consultant matching candidates with the right franchise.
At Franchise Perfection there is no perfect franchise, but there is always a perfect match.
For over 20 years Jim worked with Super Coups. Super Coups is a MA based direct mail franchise business to business opportunity.
Prior to Super Coups Jim successfully marketed franchises in the New England area for Uniglobe Travel Northeast a travel franchise, Merry Maids a maid cleaning franchise, & Emack & Bolio an Ice Cream franchise.
Jim was the host of a popular radio show in the Boston Area called "Let's Talk Franchising" that was broadcast on AM 1060 WBIX The Boston Business Station.
Jim currently serves on the Board of Directors of the New England Franchise Association (NEFA) www.nefranchise.org
In contrast I would suggest you look at all opportunities that are economically viable without regard to cost. As I have mentioned before the world is awash in funding for “investment grade” businesses. Money attracts money. If you can find an investment grade opportunity do not let the size of the investment discourage you, you can always find money for a viable opportunity.
Without franchisor disclosure its nearly impossible to determine what is an “investment grade” opportunity.