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As some background, I previously worked in franchise banking and worked with many industry executives, consultants, and perspective/current franchisees. Although there are plenty of great resources, it feels like they are pretty generic, and don't help the perspective/current franchisees learn more without having to know what all research should be done. Some features of the site will include:
- A better summary and breakdown of cost per the FDD
- Geomapping ability to know all the competition (ideally franchise AND small business)
- Area demographics (income, age, gender, traffic, etc.)
- Details around closings and opening history
- and more.
I am currently creating a prototype, that will have the key features. I would love to have beta testers who are int he industry provide feedback once I get beta up and running. Also, do you have other suggestions to improve the transparency and help in initial due diligence.
My goal is to help as much as possible outside of the scope of working with attorneys, banks, CPAs, interviewing franchisees, and other non-hard data related tasks.
The site would not be incentivized to promote any specific franchises, as I think this is extremely misleading.
Thoughts? All comments are welcome :D
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