If you’re reading this article, then you should be aware of the power of LinkedIn as a tool for networking within your business circles, whether for inside contacts for potential sales or for landing your next job. But have you considered using LinkedIn as a tool to help you find a franchise to buy? You should, here’s some tips on how to do that.
Using the search box on the top of your profile screen, enter the name of the franchise business you are interested in researching. If in the network, you will potentially see three categories displayed: Connections, Companies and Groups.
As results populate for your search, you will see names of people who have put the name of the franchise in their profile title. These are potentially people who currently own a franchise, look for titles such as “owner” or “franchisee” to be able to connect to the right contact. Remember to look for not only first level connections, but for those on your second levels. Ask to connect with them so you can get their take on the franchise. You’ll be surprised at how open most franchisees are about their experiences.
In this category there actually may be more than one entry that will show up in the result. If this happens, try to find the main corporate entry, this will give you the best overall view of the franchise. Once on the company page, you’ll be able see an overview, what jobs are open (under careers), and read Employee insights. Also, you’ll be able to scan for additional connections under the “employees” tab. Here you can also determine the size of the company based off the number of employees in the LinkedIn system. Remember though, not all employees have a LinkedIn account.
The final category in the results will be groups. If there are any groups (which are simply member forums discussing a particular topic) that contain the franchise name, then you’ll need to join. After you select the group, just ask to join the group. If asked why, simply say that you are considering becoming a franchisee and that you’d like to learn more. Once in the group, you’ll be able to participate in discussions and even pose questions regarding your potential investment in the brand. Also, as in the company page, you’ll also be able to connect with others who have an affiliation with the franchise.
I encourage you use LinkedIn as a tool to help you find your next franchise. After you’ve found a franchise to buy, contact one of our franchise consultants who can assist you with additional due-diligence.