So, just what exactly is a Franchise fee? How about Royalty fees? What does a franchisee get by paying a franchise fee or royalty fees? For those who are investigating a potential investment into a franchise system, these are important questions.

If you’re thinking about joining the ranks of successful franchise ownership you might look before you leap! We at Shear Madness Franchising (franchisor of Shear Madness Haircuts for Kids) have put together a list of ten things that might help you decide if you’re ready to take that next step into this rewarding – yet challenging - opportunity.

1. Are you financially sound? Take a look at your financial resources, and make sure you’ll have enough to not only invest in starting up your business – but run it for 3 to 6 months.  And then consider that your income will be very small, but should grow slowly for the next 2 to 3 years while your business is becoming established.

Franchisees should feel like they are being served by the franchisor.  Shear Madness Haircuts for Kids understands that the road to becoming a successful business involves many unique challenges. Our franchisees have taught us that being a great franchisor is important to the success of the individual franchisees.  Here are a few things that we have discovered that our franchisees really appreciate.

In Franchise systems there is a rule of thumb.  Twenty percent of your franchisees will be great, sixty percent will be average, and twenty percent will be underperforming locations.  Then within that top twenty percent there will be a few superstars.