Hello everyone. I am looking into purchasing a Signarama Franchise from United Franchise Group. My wife and I are going to a Discovery Day Event in West Palm Beach Florida next week to see three stores and hear from the CEO of United Franchise Group. Looking to purchase in Colorado market. Has anyone had experience dealing with United Franchise Group? If so is / was your experience?
Yes, I am an independent franchise consultant and I have worked with UFG and many of their brands in the past. Signarama is a great concept and I'm sure by now you have learned that the most successful owners within their network are positive with a "can-do" attitude and can follow a system. UFG is a well organized franchise group and I think you will like what you find out about their infrastructure and support system that are designed to help you achieve your goals.
Attending Discovery Day with any franchise is close to the end of the process. Like most brands, the goal of attending Discovery Day is to place you in a position where you can make a final decision and for UFG to decide if they should award the franchise to you. By now you should have completed your review of the Franchise Disclosure Document (FDD), met with the Development team at Signarama, and validated with other owners. If you have not, my recommendation is complete those steps before making any decision.
If you have completed those, then after attending DD, UFG will either extend the franchise award or not and you will either accept or not. You should be prepared to complete an application and have your funding secured prior to attending.
When it comes to attending Discovery Day, there are a few tips to keep in mind:
• Get plenty of rest.
• Know who you are going to meet and what they are responsible for.
• Know what you want to ask each person.
• Be prepared to answer personal questions and the most important one: ”Why are you interested in this franchise?” Questions can vary and some might even be: “Have you ever been fired?”, “How much money do you need?”, etc.
• Be yourself.
• Ask all of your questions – no question should be left unasked.
• Walk around – ask to be shown around the building. Watch what employees are doing. What are the looks on their faces? Do they seem happy? Frustrated? Are they organized? Cluttered? Stressed out?
• Do you like to take notes? If so, bring your own notebook and pen and write down everything - what you like, concerns that you have, etc. You will receive so much information, it will be good to have notes you can turn to later when you are making your decision.
Questions to be thinking about/asking yourself during the day:
• Will this opportunity meet my “must have” objectives with a high degree of probability?
• Do I closely match the franchisors profile of a successful owner?
• Are the other franchisees succeeding?
• Is the franchisor committed to success?
• Does the advertising and marketing programs seem effective?
• Will the franchisor help me get started?
• Will I enjoy going to work in the morning?
• Has the franchisor done a good job bringing in high quality franchisees?
• Did the franchise development team help me determine if this is the right match for me?
• Can I see myself doing this every day?
• Does the Support Team have the skills, time and knowledge to help me?
• Have I identified the tasks that take time away from being successful in the business?
• Am I confident that I have clearly identified the model of success?
• Am I willing to do what it takes to be successful?
• Am I willing to do what it takes to be positive even when things turn into a grind?
• Do I have the necessary funding to move forward?
• Will I allow the franchisor leadership to guide me?
I have helped hundreds of people evaluate franchise opportunities and the #1 reason for failure is a poor system fit. At the end of the day, a franchise is somebody else's system and business model. It is designed to be duplicated and if followed, will be successful. In my opinion, the #1 thing you should strive to understand is simply this: Can I see myself in this business and following this system? If the answer is "yes", then you will be successful. If you find yourself thinking "that is not the way I would do that", then it is a big red flag that their system is not for you.
Please feel free to contact me if I can clarify anything. I wish you success and thank you for your service.
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