After years of working for someone else, you’re in a position to open your own thrift store business. The idea of going with a thrift store franchise opportunity in Colorado Springs is exciting and also seems like the most practical approach to getting the business off the ground. Since not all franchise opportunities are the same, you do want to ask some questions before making any commitment. Here are four questions that need to be at the top of your list.
What Are the Qualifications for Becoming a Franchisee?
For a truly sound thrift store franchise opportunity, you can bet that the franchisor requires all applicants to meet specific qualifications. You want to know what those happen to be up front. Perhaps you need to supply a certain amount of capital or have a proven track record of running a business. Maybe you need verifiable experience with things like managing clean-outs and knowing how to recycle anything that’s still in good condition and safe for resale.
The benefit of exploring the qualifications is conducting a self-evaluation. If there’s anything that you need to get in order prior to applying, there’s time to do so. Your preparation improves the odds of being accepted into the franchise program.
Do I Have an Assigned Territory?
It’s not unusual for franchisors to have more than one franchisee in close proximity. That’s fine as long as you have a geographical territory that provides ample options to build a business and operate at a profit.
Always see if you have free reign to go after residential and commercial clean-out projects within a designated area or anywhere across the city. After all, much of what you offer in the thrift shop will be discards that are still in acceptable condition and safe for resale. Think of that territory as not just one way to make money with clean-outs, but as a way to serve clients who need quality goods but have to watch their budgets.
How Much Control Do I Have Over the Location?
Some franchisors perform due diligence and identify locations where franchisees have the best chance of succeeding. Others rely on the franchisee to conduct studies and identify locations that would be convenient for customers and also serve as the ideal base of operations for a clean-out service. Do find out how much input you have about where to locate your business. Between you and the franchisor, identifying a location that’s mutually agreeable may be easier to manage than you expect.
What Sort of Ongoing Training and Support Can I Receive?
While you do expect to undergo training prior to opening the thrift shop franchise, what happens once you officially launch the location? Ideally, the franchisor has provisions for ongoing support and training. Both will come in handy as you seek to expand the operation physically or need to hire additional personnel. When something unexpected arises, there’s somewhere to turn. You also get to participate in continuing education seminars and workshops that provide further inspiration in how to make the most of your business.
Remember that choosing the thrift shop franchise that’s right for you lays a foundation for your future success. In a competitive market, you’ll find that it’s easier to deal with shifts in the economy and enjoy a business relationship that serves both of you well for a long time to come.