Do you think you’ve found the vending franchise you’ve been searching for?
Whether you’ve stumbled across the opportunity out of the blue or have been hunting for the right franchise opportunity for months, it’s important to conduct a thorough vending machine franchise review to find out if it’s suitable for you, before you jump on board and make an investment.
In this article we’ll be sharing some top tips which will help you perform smarter franchise reviews of vending machine companies, whether they’re little known, new on the scene or listed among vending’s top 10 franchises (just like us here at Tubz!).
Going into business as a franchisee is all about taking charge and building your own future but, at the end of the day, everything boils down to money. That’s why costs should be the very first aspect of the prospective vending franchise you review.
The initial investment you’ll need to make may not be all you’ll pay. In some cases you’ll need to cover costs including:
– Restocking costs
– Service maintenance costs
– A percentage of your profits
Before you jump into a franchise, make sure your prospective franchisor has shared details of every cost with you. Then compare these against the cost of other, similar franchises to ensure you’re getting a good deal.
Don’t forget to check out estimated profits and to confirm these with current franchisees too. (You can find out all about our costs and predicted profits here.)
Hearing it straight from the horse’s mouth is one of the very best ways to gain insight into a vending franchise you’re considering investing in, whether it’s a relatively small vending machine company or one of the industry’s top 10 franchises.
Take a close look at testimonials pages and reviews written by franchisees to get a better understanding of how franchisees are treated by the franchisor, how the franchise structure works, whether or not profits are accurate and much more. If a vending franchise doesn’t offer testimonials, this could be a red flag.
Of course, testimonials can be cherry-picked and may not represent every franchisee’s experience. Performing a quick Google search is a good idea as this could flag up any negativity which exists online and give a more balanced picture. If possible, ask your prospective franchise if you could meet or talk with a current franchisee to get the inside scoop.
Your franchise contacts
The final part of any reviews you conduct should focus on the franchise itself – and the people representing your franchisor.
Will you get along? Will you feel supported by them? How accessible are they?
The answers to these questions could all make a big difference to your success and happiness in the franchise.
Ask your potential franchisor to list the individuals you’ll have the most contact with and ask to set up a conversation or a meeting so you can get to know them a bit better before diving into a potential long working relationship. Good support is vital if you’re entering the business world with a new enterprise, even if the business model has a proven track record.
If you conduct thorough research, get feedback from current franchisees and ask franchisors lots of questions, you will be in a great position to choose a winning vending machine franchise.
Have you reviewed Tubz Vending using these steps? If you think our vending machine franchise could be a great fit for you, we’d love to talk. Please contact our team today on: firstname.lastname@example.org or 01795 414 480.