Questions to Ask Current Franchisees
1. How much does your franchise gross per year? How much does it net? Are the procedures followed to make royalty payments to the franchisee troublesome?
I think if you visit to our office, you will know more about it.
2. Are the financial projections of revenues, expenses, and profits that the franchisor provided me accurate in your judgement?
Of course
3. Does the franchisor give you enough assistance in operating your business?
From our franchisee opened last year until today, Mr.Kwa Win Soon did give enough assistance in operating our business.
4. How many hours, on average, do you work a week?
Normal Office hour.
5. How often do you get a vacation?
No answer.
6. Have you been caught off-guard by any unexpected cost or expectations?
No answer
7. Does your franchisor provide on-going training and support to you?
Every training of staff provided well.
8. If you had to do it all over again, would you purchase a franchise in this system? Why or why not?
Yes. So far it's great and have its potential.
The Franchisees
1. Are you pleased with your investment in this franchise?
Yes.
2. Has the franchiser lived up to its promises?
Yes.
3. What was your greatest disappointment after getting into the business?
Overall it's not easy to operate a franchise. But if compare others franchise i think almost same. So I can overcome all of these problems.
4. How effective was the training you received in helping you run the franchise?
I think it's more on be a leadership on operating.
5. What are your biggest challenges and problem?
Seem i was partnership with Mr Kwa Win Soon, of course he does help me alot in operating franchisee. He has great leadership and he's the founder. I think overall I didn't face too much challenges.
6.What is your franchise’s cash flow like?
No answer
7.How much money are you making on your investment?
No answer
8. What do you like most about being a franchisee? Least?
to have a own small business.
9. Is there a franchise advisory council that represents franchises?
No answer
10. Knowing what you know now, would you buy this franchise again?
Yes.
A Franchise Evaluation Checklist- Myself
1. Are you qualified to operate a franchise successfully? Do you have adequate drive, skills, experience, education, patience and financial capacity? Are you prepared to work hard?
Everything will be prove based on your result.
2. Are you willing to sacrifice some autonomy in operating a business to own a franchise?
Depend.
3. Can you tolerate the financial risk? Would business failure wipe you out financially?
No answer
4. Can you juggle multiple tasks simultaneously and prioritize various projects so that you can accomplish those that are more important.
No answer
5.Are you genuinely interested in the product or service you will be selling? Do you enjoy this kind of business? Do you like to sell?
No answer
6. Do you enjoy working with and managing people? Are you a “team player”?
I think everyone need to be mastered on leadership.
7. Will the business generate enough profit to suit you?
No answer
8. Has the franchiser investigated your background thorough enough to decide if you are qualified the operate the franchise?
Have an appointment with us, and provide personal information for operate the franchise.
A Franchise Evaluation Checklist- The Franchiser and the Franchise
1. Is the potential market for the product or services adequate to support your franchise? Will the prices you charge be in line with the market?
We start up from traditional way become nowadays modern way. Of course we believe that every customer will like on our food. We partnership with Asia Pacific F&B, and make the old traditional business expand to international brand.
2. Is the market’s population growing, remaining static or shrinking? Is the demand of your product or service growing, remaining static or shrinking?
From a traditional business expand to modern business, it actually got its risk. But seem we success, I think our product will be keep growing.
3. Is the product or service safe and reputable?
Yes.
4. Is the product of service a passing “fad”, or is it a durable business idea.
No answer.
5. What will the competition, direct or indirect, be in your sales territory? Do any other franchisees operate in this general area?
As i know, around Pandan Indah area less franchisees operate.
6. Is the franchise international, national, regional, or local in scope? Does it involve full- or part-time involvement?
Moving forward to international.
7.How many years have the franchiser been in operation? Does it have a sound reputation for honest dealings with franchisees?
From 2007, our founder Mr.Kwa Win Soon started his franchisee business.
8. How many franchise outlets now exist? How many will there be a year from now? How many outlets are company owned?
6 franchise outlets. 2 outlets owned by company.
9. How many franchises have failed? Why?
No answer
10.How many franchise have left the system within the past year? What were the reasons for leaving?
No answer
11.What service and assistance will the franchiser provide? What kind of training program does the franchise offer? How long does It last? What topic does It cover? Does the franchiser offer ongoing assistance and training?
Basically we provide all the stuff in restaurant like dining tables, chairs, decoration of restaurant, air condition, kitchen and so on. You just only need to pay the cost of your shop rent, electricity and water bill. For sure staff training we will provide too. Chef and Waiter will be trained and provided. Numbers of staff will consider.
12. Will the franchise perform a location analysis to help you find a suitable site? If so, is there an extra charge for doing so?
Yes. But if you decided which location we also will do an analysis to you too.
13. Will the franchiser offer you exclusive distribution rights for the length of the agreement, or may it sell to other franchises in the area?
No answer
14. What facilities and equipments are required for the franchise? Who pays for construction? Is there a lease agreement?
I think if you visit to our office, you will know more about it.
15.What is the total cost of the franchise? What are the initial capital requirements? Will the franchiser provide financial assistance? Of what nature? What is the interest rate? Is the franchiser financially sound enough to fulfil all its promises?
Total is Rm 600,000 included all the equipments and staff training provide.
16. How much is the franchise fee? Exactly what does it cover? Are there any confining fees? What additional fees are there?
I think if you visit to our office, you will know more about it.
17. Does the franchiser provide an estimate of expenses and income? Are they reasonable for your particular area? Are they sufficiently documented?
I think if you visit to our office, you will know more about it.
18. How risky is the franchise opportunity? Is the return of the investment consistent with the risk?
No answer
19. Does the franchiser offer a written contract that covers all the details of the agreement? Have your attorney and your accountant studied its term and approved it? Do you understand the implications of the contact?
Yes.
20. What is the length of the franchise agreement? Under what circumstances can it be terminated? If you terminate the contact, what are the costs to you? What are the costs and terms of renewal?
I think if you visit to our office, you will know more about it.
21.Are you allowed to sell your franchise to a third party? Does the franchiser reserve the right to approve the buyer?
Yes. But those agreement have to been done and approve by company.
22. Is there a national advertising program? How is it financed? What media are used? What help is provided for local advertising?
Sin Chew news, events etc.
23.Once you open for business, exactly what support will the franchiser offer you?
Mentioned before.
24.How does the franchise handle complaints from and disputes with franchisees? How well has the system worked?
No answer.
