How To Utilize This Blog When You Buy A Franchise

July 22, 2009 9:16 pm Published by Leave your thoughts












New franchisees: Rob and Misti Reed

New franchisees: Rob and Misti Reed


“What do you know about PuroClean?”

The question came from a concerned father who was looking out for his daughter and son-in-law who were thinking they wanted to buy a franchise.

First-time buyers

The young couple was planning to buy a franchise — and they had not owned one before. They had downloaded my report: 92+ Questions To Ask Before You Invest In A Franchise and had used it to build their own list of 92 questions! (Through the years, thousands of franchise prospects have obtained a copy of that report — always free! It’s still free to subscribers of this blog).

The young couple was now beginning the franchise discovery process and dad wanted to make sure they were getting good advice.

Tell them to do their homework!

I responded that I didn’t know the folks at PuroClean — I’ve not consulted with them or spoken at their franchise convention, for example (though I’d surely welcome the opportunity, especially now) — and I suggested that the young couple do their homework, compare PuroClean to other companies in the same industry, talk to franchisees (including former franchisees), dig into the financial opportunity, read and re-read the disclosure document, meet with responsible franchise advisors, attend Discovery Day, etc. — in other words, do their due diligence before making a decision to buy a franchise.

Several weeks went by and occasionally I’d get an update from dad, and then on July 20 I got word that the deal was done: Misti and Rob Reed had signed a franchise agreement with PuroClean.

Misti writing the check!

Misti writing the check!

The thrill of a deal

For a blogger, it doesn’t get any better than knowing that someone visited your site, subscribed to your free blog, followed your suggestions, found a deal they liked and decided to buy a franchise! I’m proud to have been a catalyst for this young couple, and I plan to follow their franchise journey, especially since I feel like I helped birth it.

Q&A: Misti Reed answers my questions

Rather than tell you the couple’s story in my words, I’ve decided to do a Q&A so that you can hear directly from Misti.

JPH: How did my blog help you to decide to buy a franchise? (May as well ask the selfish questions right away! And this may be a good place to remind my readers that I do not broker franchise deals; I do not sell franchises; I do not receive commissions or fees for selling franchises. My reward in this particular transaction is the opportunity to report this story boastfully!) about a young couple that decided to buy a franchise.

Misti: It was a great tool to reference during all phases of our research. This is our first time to buy a franchise and it was helpful to be able to read the blog and review your webinars and articles. I look forward to the email updates and found the information was always easy to understand and very applicable to our needs.

JPH: After you downloaded my list of 92+ Questions, you then created your own list. How did that work?

Misti: Your list of questions was a perfect starting point to look through and decide which questions had already been covered and which I had forgotten. The (PuroClean) franchise representative was very impressed with how extensive our list was. Since this was our first time to buy a franchise, it was comforting to know what was normal and acceptable to ask.

JPH: How did the franchisor respond when you presented 92 questions? It’s a lot of questions! I think some franchisors might get annoyed with the volume.

Misti: We did eventually get all 92 of our questions answered! Something I didn’t expect was that it was hard to cover a large amount of questions at once. We had weekly, one hour calls with our (franchise representative) and she had a set agenda for each week. She recognized that we would cover most of my questions throughout the process, therefore, rather than throw all of my questions at her at once, she asked that I revise my list each week after our call. . . . Some of the questions were covered very early in the process; a large number were covered when we received the disclosure document; and the remaining questions were covered during our validation calls and at Discovery Day.

JPH: How long did it take to do your homework and research the opportunity and then decide that you wanted to buy a franchise?

Misti: Our process took about six weeks. By the end of the first three to four weeks we had a very good grasp on the franchise opportunity and felt that most of our pressing questions had been answered. We started researching the franchise at the beginning of June, attended Meet The Team Day (Discovery Day) on July 20, and wrote the check that same day!

JPH: After looking at other franchises, why did you choose PuroClean?

Misti: Three reasons:

  1. We wanted an industry that is as “recession proof” as possible.
  2. PuroClean excels in its industry in the area of Customer Satisfaction, which was one of our “must haves.”
  3. The margins! If properly run, this can be a very profitable industry.

They’re off to training

Misti and Rob will attend PuroClean’s 3-week basic training in August and then begin operating their business in Grayson County, Texas. Of course, along with their dad, I wish them all the best, and we’ll look forward to periodic updates.

Here’s what I appreciate most about the Reeds’ story: This is how it works! My job is to give you good information — information that you can trust and implement — and your job is to put it to work to your own advantage.

Congratulations to PuroClean’s new Texas franchisees!

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This post was written by Dr. John Hayes

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