Best Franchise for First Time Owners: 5 Things to Look For

Buying a franchise is a great way for a first-time business owner to get started on the path to professional and personal success. Financial information publication Investopedia said in a May 2024 article that franchising provides entrepreneurs “a stable, tested model for running a successful business.”

However, it’s a decision that should be made with careful consideration. First-time franchise owners should evaluate their options and make sure they choose a suitable franchise for their initial leap into franchising.

1. Alignment with Goals and Needs

   The best franchises for first-time owners match with its franchisees’ long-term ambitions and interests. A good franchise will have a business model that accommodates the franchisee’s goals. 

   A candidate for a franchise business should carefully evaluate the terms and conditions of any franchise agreement before signing to make sure they fit with his or her long-term plans; this includes both the franchisee’s professional ambitions and desired lifestyle. For example, Joshua Tree Experts offers a proven and refined franchising process, recurring revenue streams, high employee retention rates, and other benefits to help franchisees pursue success.

2. A Fitting Business Model

   A franchisee should research the franchise’s business model to ensure it fits their desired work-life balance, their business style, and their professional skills. Each franchise has its own way of operating and may have more or fewer duties and responsibilities for the franchisee. 

   A franchisee should be sure their franchise’s business model aligns with their preferred business style, whether that’s being a part of the day-to-day operations or leaving everyday work to the staff while the franchisee handles high-level oversight. A franchisor should provide a clear, comprehensive explanation for operating within brand standards and franchisee responsibilities and duties.  

   Joshua Tree Experts, for example, provides a business model that’s suitable for franchisees that want to build long-lasting relationships with their clients, enjoy working outdoors, and want the option to work from home or from a brick-and-mortar location.

3. Affordability

   A crucial quality for the best franchise for a first-time owner is being affordable. Every franchise comes with an initial investment cost, and there will be recurring expenses as well. A franchisee should be certain that they can either afford it outright or be able to obtain the financing for his or her chosen franchise. Transparency about costs is an important quality for a good franchise. 

   Every franchisor is required to provide a franchise disclosure document (FDD) which contains up-to-date financial information they’re legally required to provide franchising applicants. A franchisee should review this document carefully with a franchising attorney before signing a franchise agreement. 

4. A Good Reputation & Track Record

   A franchise’s reputation is a vital asset for its franchisees: a good reputation helps draw customers and carries with it brand loyalty. A proven track record of business success also shows that reputation is well earned; a franchisee should look for a franchisor with at least two to three years of business experience. 

   A franchisee should compare a franchisor with its competition to see how they stack up, as well as consider who will be the franchisee’s direct competition in a chosen local market. It’s also advisable to speak with existing and former franchisees of a brand to get the inside word on what it’s like to franchise with them. 

5. Comprehensive Training & Support

   Lastly, the best franchises for first-time owners offer all the necessary training and support services franchisees need to run a smooth, successful operation. Franchisees should find out what a franchisor offers in its initial training and onboarding process, but what opportunities for ongoing training they offer and what franchisor services they provide. 

   For Joshua Tree Experts, that means providing first-time franchisees with a dedicated business coach throughout the lifetime of their franchise, monthly webinars, and an online training portal, to name a few.  

Find Fertile Franchising Ground with Joshua Tree Experts

We’re proud to offer you the opportunity to join our franchising team, with benefits from franchise training to a wide range of available territories. Submit an inquiry form today to learn more about your franchising opportunity with Joshua Tree Experts.