If you are looking into the idea of purchasing a franchise, a crucial part of the research process is speaking to those in the industry to get an accurate picture of what’s involved. One way to do this is to visit a franchise expo, which can be a useful way of gathering information. With this in mind, here are our top 5 reasons to visit a franchise expo, and what to do if you can’t attend one this year.
1. Shop around
The great thing about a franchise expo is that you can cover a lot of ground in one day. With all your potential franchise brands in the same place you’ll be able to gather twice as much information as you would through a normal day’s research, whether it’s across different industries or investment levels.
2. Speak to franchisors in person
A franchise expo is the ideal opportunity to speak with franchisors face to face, and to build a rapport with the owners of the franchises you’re interested in. Don’t be afraid to ask as many questions as you need to when speaking with franchisors, and take contact details in case you think of any questions later on Have a list prepared beforehand of all the franchise brands you want to speak to, so that you don’t waste time or get side tracked. Arrive as early as possible to allow all the time you need for each franchisor before the crowds.
3. Learn from franchise seminars
Seminars and workshops are a fantastic way to learn the tools of franchising, and familiarise yourself with the process of becoming a franchisee. Be sure to make time to attend the seminars which are most useful for your situation, and remember to take notes to refer back to afterwards.
4. Get advice from consultants
A franchise expo will usually have a number of consultants or advisors who work with franchises, including legal and banking representatives. Make good use of these resources while you have them all under the same roof; their expertise could prove invaluable to you in your future franchise venture. Whether it’s the law surrounding franchise opportunities, the finance options available to you, or any other aspect, making contacts for the way forward is essential.
5. Meet other franchisees
Lastly, once you’ve spoken to franchisors and attended some seminars, it’s time to meet your fellow franchisees! Speaking to other prospective franchisees is a great source of impartial advice. Share what you’ve learned, and you may just get some useful advice in return. For example, you might learn about a new franchise opportunity that you hadn’t considered before, or get the details of an organisation that can help you with funding.
What if you’ve missed this year’s franchise expos?
In South Africa, there are two major franchise expos each year. The next expos are:
- The International Franchise Expo (IFE) is organised by the Franchise Association of South Africa takes place May 9-11 2013 in the Sandton Convention Centre
- The Business Opportunities and Franchise Expo takes place Friday, 13 September 2013 to Monday, 16 September 2013 in the Cocoa Cola Dome in North Riding, Gauteng.
For more event details, check our franchise events calendar. If you can’t wait until then, you can always use a franchise directory like Franchise Direct to explore your options. It’s easy to get more details of each opportunity: simply click the ‘request information’ button on your chosen franchise brand, and you’ll be sent more information.