Archive for the ‘Due Diligence’ Category

Brad and Risa May, franchisees of two Goddard Schools located in Chantilly, VA, were recently interviewed by Franchising World in an article about the softening lending environment. It can be easier to secure financing if your business is part of a successful franchise such as The Goddard School®. Read the full story here.

 

Click here to see The Goddard School’s Franchisee Satisfaction Report.

It is a growing trend in franchising that entrepreneurs entering into a system are more educated and more active in their due diligence process, then ever before.

It is the responsibility of the potential franchisee to perform in-depth research and become knowledgeable on the brand.  Existing franchisees are the best source of knowledge and validation for any prospect.  Potential Goddard School franchisees are always speaking with and working closely with existing franchisees. Because our franchisees are living the Goddard System each day – and are fully engaged in the ins and outs of the business – they have become our best referral.

The Goddard School has very passionate franchisees who are always willing to answer any question, big or small, to guide prospects to their ultimate decision.  Our prospective franchisees are not only meeting with their near-by Goddard School business owners, they are driving to different cities, flying to different states and calling across the country to inherit as much information as they can get their hands on.

Valaire and Fred Riese, franchisees of The Goddard School located in Chanhassen, recently spoke about their due diligence process, saying “I really wanted to find something wrong with The Goddard School to bring to the table when signing on, but after flying to three different schools to tour the facilities and calling 26 franchisees to ask a list of 47 questions, we found ourselves to be completely impressed.  The Goddard School, both corporate and franchisees, answered every question we asked, and we couldn’t ask for anything more.”

The Goddard School has great support internally and unmatched validation from our franchisees. We encourage all prospects to continue to be active in their due diligence process and become more knowledgeable about any system before taking the leap into business ownership.

While trade shows and franchise portals used to be a definite part of franchise development, using these tactics, as a sole strategy, is becoming a way of the past. To attract new franchisees and open the lines of communication, Goddard Systems, Inc. has developed a multi-channel strategy, adding social media as a vital connecting point.

Social media allows transparency and immediate communication with brands.  It is this personal connection that allows prospective franchisees to interact with Goddard Systems, Inc. and each other, while performing necessary due diligence on The Goddard School brand.

Social media plays an important role in Goddard System’s growth strategy, opening up new conversations, relationships and connections with potential franchisees around the country, a factor that has led credibility to our system as a whole.