What to Consider Before Buying Your Casa Franchise
You considered the advantages of owning your own Casa franchise and you are eager to start. However, there are many factors to consider before diving in. We want you to make the best and wisest decision concerning this new partnership to ensure everyone’s success. Being a part of Casa means positively impacting children’s lives. With that there are great responsibilities and expectations.
Things to consider before buying your own franchise:
- What is the work culture like?
- What experience does the franchise management team have?
- What is the time commitment?
- What are the total expenses?
- How will my territory be determined?
What is the work culture like?
To learn more about a company’s work culture, browse their social media accounts, websites, blog, and youtube channels. Reach out to current employees and ask them to share their experiences. Once you have gathered sufficient information, stop, and reflect. Does my personality, work style, and skill set fit within the company? Do our core values align? Will I feel comfortable leading this group? A good franchise and everyone in it should adequately represent the mission and values of the company.
What experience does the franchise management team have?
A great franchise management team will not only have years of experience in the industry, but will have outside experiences from which they developed different skill sets. How does this team help franchises operate stably? Do they work well together? Financial stability and a steady pattern of growth is usually a sign that the team is ambitious and works well together.
What is the time commitment?
In order to succeed you must give adequate time to this new effort. Discuss with other franchise owners what their experience has been like. Ask about their time commitment and how they manage their time. Another aspect of time commitment is the initial term period. Will you give the same amount of effort, care, and attention to your franchise 10 years from now? At Casa, the initial term period is 10 years, so we are looking for a long-term relationship.
What are the total expenses?
When owning a franchise there are upfront and ongoing fees. Upfront fees include things like real estate and equipment, while an ongoing fee includes an annual franchise fee. Make sure to get a detailed list of all the fees and how often they are paid.
Along with fees other expenses to consider are supplies and materials. The franchisor might require that you buy them from specific vendors to maintain quality and sameness throughout the centers.
How will my territory be determined?
A territory is an area, determined by various factors, where a franchisor will not open another franchise inside of it. Here at Casa your territory will generally encompass a radius of around 3 miles or an area empompansing 10,000 households. Some factors we consider are the location (metropolitan or suburban), the size of the building, and the number of children you are licensed to take care of.
Good Practice – Consult with an attorney
Consult with an experienced attorney in franchise law to help you determine additional considerations, and help you understand the risks and benefits of the contract. Two important documents we recommend to review are the Franchise Disclosure Document (FDD) and the Franchise Agreement, as these detail the relationship between you and the franchise owner.
Interested in learning more? Inquire here about owning your own Casa!