When evaluating a franchise opportunity, potential investors need to organize and prepare a plan of action.

After accumulating a sufficient amount of research, franchisees must ask questions to make sure no stone has gone unturned, and making checklists can be an invaluable tool, Franchising.com reports.

The first list of questions potential franchisees should ask before going forward should deal with their own preparation and experience. At an initial meeting with a franchisor, these are the types of questions a company will be asking, the Web site writes. For example, franchisees will need to dig into their own backgrounds to uncover what experiences and skills, goals and objectives make them desirable candidates.

A franchisee should also prepare a list of questions when judging the franchisor. This is the franchisee’s moment to evaluate a potential business partner. Investors will want to make sure the business has a solid financial background and good leadership with little history of litigation, the source says.

U.S. Franchise News writes that when evaluating potential franchises, there are certain figures to consider. These include how selective franchises are in choosing franchisees, the rate of turnover and the budget available for franchise expansion.

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