Beth Nilssen
April 4, 2024 / Great News

5 things to do before talking to a franchisor

What should you do before you talk to a franchise representative about investing in their brand? Going through these five steps ahead of time will not only demonstrate your commitment to the franchisor but also empower you to have a meaningful and informed conversation about the company.


At Great Clips, we have a straightforward and friendly process that helps prospective franchisees understand what it's like to be part of our franchise system for walk-in hair salons.


It begins with a conversation with someone from our Franchise Development team to learn about the prospect's business goals and how a no-appointment hair salon franchise might align with their plans. Then, we guide them through Phase 1 of our mutual evaluation process—tried-and-true steps for everyone who’s considering the Great Clips Advantage.


Every franchisor has its own process, but it typically kicks off with a phone call with the franchise development department. So, what should you do before you have that first conversation? Here are five steps to consider:


1. Research the franchisor

Start by delving deep into the DNA of the franchisor. Explore their website, read up on their history, mission, and values. Understanding the company's culture will not only showcase your genuine interest but also help you see if your goals align with theirs. Familiarize yourself with their success stories and current franchisee experiences to gain insights into what makes them tick.


Here’s the Great Clips website created specifically for prospective and new franchisees of hair salons: Build your legacy with the world’s leading salon brand


2. Review your personal finances and the franchisor’s investment criteria

Before you step into any discussions, get your financial ducks in a row. Review your budget, assess your capital, and ensure you have a clear understanding of your financial capacity. The development director for any franchisor will likely discuss investment requirements, so being financially prepared demonstrates your commitment and positions you as a serious contender.


Here’s the investment and financial criteria for being a Great Clips franchisee. And here’s an article about navigating franchise financing from a lender who has worked with many franchisees, including owners of Great Clips hair salons.


3. Understand the legal landscape of owning a franchise business

Take the time to acquaint yourself with the legal aspects of the franchisor-franchisee relationship. The franchise agreement you ultimately sign when you become a franchisee is a legal document that governs this relationship, so be prepared to spend time understanding what is in it. You may also want to learn about another legal document, the Franchise Disclosure Document (FDD), that you will receive during your research. A solid understanding now of the legal aspects of owning a franchise prevents surprises down the road.


4. Evaluate your business fit

Consider how well your entrepreneurial style aligns with the franchisor's business model. Reflect on your skills, goals, and aspirations, and assess how they mesh with the opportunities presented by the company. A thoughtful self-evaluation ensures that the conversation is not just about what the franchisor can offer but also how you can contribute to the success of their franchise system.


Take this quiz to find out, Is Great Clips right for you?


5. Find out if your preferred geographic area is open for investment

Most franchisors like to have its franchisees involved and engaged in their communities, so they may prefer franchisees live in the same general location as their business. Open territories change from time to time, so check with the franchisor to see what the available options are.


To find out which markets are open for new Great Clips franchisees, fill out the “Get in touch” form here. Or just reply to this email to let me know you’re interested in having more information.


Doing these five steps before you chat with a franchise representative will demonstrate your level of interest in becoming a franchisee, and it will empower you to have a meaningful and informed conversation with the franchisor’s representative.


Then again, if you’re a jump-into-the-deep-end-of-the-pool type, don’t hesitate to call me before you’ve done this pre-work—I’d be happy to help you get started!


Beth Nilssen

Director of Franchise Development | Great Clips, Inc.
800-947-1143 | [email protected]

Beth Nilssen By Beth Nilssen on April 4, 2024
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We'd love to learn more about your goals and answer your questions about becoming a Great Clips franchisee. Please fill out our contact form, and someone will get back to you as soon as possible. Chatting with us is completely confidential.