How to Avoid Scams When Buying a Franchise

How to Avoid Scams When Buying a Franchise

Aside from the industry specifics, buying a digital marketing franchise also comes with a lot of the same possibilities and risks that you will find in any other franchise opportunity. Any time you look into buying a franchise, you need to fully aware of the potential risks, look before you leap and ensure that you are making the right decision. There are unscrupulous people out there promising prospective buyers the world, however, they are only looking to make money off innocent investors. Avoid falling victim to these “scams” by considering the following questions.

Can You Get Direct, Honest Information From the Franchisor?

A good franchisor is not trying to trick you. Of course, they want you to buy their franchise, but they have no need to lie to you to get you to do so. You should be able to speak directly to a representative of the franchisor, someone who can honestly answer all your questions about not only the company’s growth, but also about any of the (inevitable) failures and difficulties that were overcome on the way to its success. If they dodge any of your questions, that is a red flag. 

Are They Using Any Hard Sell Tactics?

A good franchisor will not need to use sales gimmicks, pressure or any other ‘used car lot’ tactics in order to get you to buy. They will know that the franchise’s achievements and all the available information will speak for themselves. If the potential franchisor is putting any pressure on you, offering anything that seems too good to be true, or leading with any attention-grabbing gimmick, you should take a step back.

Does What They Offer Match What They Are Charging? 

No matter the cost of a franchise, you should be able to see the value and potential return on investment in a franchise. A good franchise will have a track record and brand identity that will make this self-evident. If you look at what is offered and can’t see the value, it is time to look elsewhere.

Do You Have Access to a Full List of Franchisees? 

Once again, a good franchisor will be completely transparent with you and will be glad to provide you with a list of their current franchisees, whom you can contact for further information. If the prospective franchisor is being cagey with any of this information, even after you’ve asked multiple times, you shouldn’t go any further.

In short, as these points have made clear, there should be total transparency on the part of the franchisor and not a hint of coercion or pressure. Your gut will tell you in the first few communications if you are dealing with a decent franchisor. You will also be able to find plenty of information about them online if they are a well-established digital marketing company, and the feedback provided by clients and other franchisees will aid your decision-making.

WSI is a strong brand amongst digital marketing agencies. If you consider buying a franchise from them, you will have no problem getting all the information you need and answering the questions above to your satisfaction. Plus, its track record is there for all to see. For more information, you can go straight to WSI’s website, or contact Unibit Solutions, a proud WSI franchisee.

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