Investing in a franchise brand is a great way to become your own boss. Not to mention, there are plenty of other advantages of franchise ownership, like being able to learn from others’ business experience, access to training and support and strong marketing reach.
When you open a property restoration franchise with PuroClean, you’ll join a trusted and established brand that has more than 20 years of industry experience. However, as you learn more about the world of franchising, you might be confused by some of its terminology and language. Here, we’ll look at a few common franchise terms you’ll come across in your journey, what they mean and why they’re important.
Franchisor
Simply put, a franchisor is a company or brand that’s offering an investment opportunity to potential franchise partners. In reality, a franchisor is much more than that, especially when opening a property restoration services franchise through PuroClean.
The people behind the brand are what determine the strength of a franchisor because they’re the ones you’ll turn to for ongoing support. In addition to selling you the right to open locations and sell products or services using their brand name, they’ll also be the ones who make sure you’re well trained and ready to do business.
The training and support we offer is one of the best reasons to open a franchise with PuroClean. If you’ve ever wondered how to start a water restoration company or other property restoration business, we’re here to answer all your questions.
Franchise Disclosure Document
A Franchise Disclosure Document (FDD) is one of those franchise terms that can sound complicated. But they can be simpler than you think! What is an FDD? It’s a standardized, comprehensive document the Federal Trade Commission requires all franchisors to provide.
Serious potential investors always have at least two weeks to review the PuroClean FDD, often with their attorneys. In it are answers to many questions about the PuroClean brand, including the history, team leaders, investment numbers and what training and support they can expect. Investors also learn more about what’s expected of them as a PuroClean partner, including any fees for which they’ll be responsible.
Meet the Team Day
Becoming a franchise partner involves several important steps. Each piece of the process provides opportunities for the franchisor and potential Franchise Owner to learn more about each other. Perhaps no step does that better than a Meet the Team Day.
This is a time for prospective Franchise Owners to meet with brand leaders and learn more about the culture of a brand, its value propositions and its support of franchise partners. It typically takes place at corporate headquarters and is usually the last step before a franchise agreement is signed.
Franchise Fee
Some franchise terms may not be so obvious to newcomers — but this one is pretty self-explanatory. A franchise fee is the one-time lump sum you’ll pay to become part of a brand family. All franchisors charge a franchise fee, payable upon the signing of a franchise agreement
When you open a restoration franchise with PuroClean, you can expect to pay approximately $55,000. This fee covers the cost of your onboarding and pre-opening training and secures your access to many of the advantages of franchise ownership. For example, when you pay your franchise fee, you get our proprietary materials, logos, and other resources such as property restoration software. Most importantly, paying the franchise fee gives you the right to do business under the recognized and respected PuroClean name.
Now that you’re familiar with the most important franchise terms, find out more about opening a property restoration franchise with PuroClean. Get in touch today!