An important aspect to consider when talking to potential franchisors is that they are evaluating you, as well. While you are paying hefty fees for the right to use their name, they are entrusting you with their image and investing time and effort in your success. If they lack confidence in your ability to run a successful franchise, they can turn down your application.

Franchisors evaluate you in several ways. First they will make sure you have enough capital to succeed. $50,000 in liquid assets and $100,000 net worth are the benchmarks many will look for, but this varies from company to company.

Make sure you have documentation of your assets and know where you can turn for additional funding, if necessary: securing a small business loan can provide the cash you need to get started without placing too much of a burden on your finances.

Franchisors will also be watching for your attitude and enthusiasm. If you come across as someone ready to work hard, roll with the punches, and be committed to the success of your franchise, you will greatly improve your chances of being accepted into the program. If instead you seem like you are only interested in making a quick buck, you may find it hard to get approval.

Also important are your skills and experience. It will help your case to have management experience - knowing how to motivate and lead a staff is a critical skill. If you have run a business, especially a franchise business, you should be prepared to discuss your successes and challenges there. Having run a business in the same industry as the franchise you are investigating is not always a good thing: because franchisors are so strict about procedures, they may worry that someone who has been doing it their way for a while will find it hard to adjust to the company's methods. However, having skills relevant to the industry can help make your case.

Source: BuyerZone.com