In Mexico, the franchise fairs have played a determining role in the growth of the sector. From the first fair in 1989, which brought together 12 exhibitors and was visited by less than 500 people, until the next International Franchise Fair (FIF) to be held at the WTC in Mexico City in 2024.
In recent years, new tools have emerged for franchise marketing ; from live performances, to the Internet and social networks. However, fairs or exhibitions continue to be an important instrument for franchising companies to publicize their concept and for potential franchisees to have direct contact with the business owners.
Therefore, in this article we will guide you quickly and specifically on what we have observed for several years at franchise fairs, which can help you when choosing the ideal franchise for you.
10 fundamental tips to take advantage of franchise fairs
These are 10 tips when setting foot in the event, which year after year translates into great opportunities for business and personal development.
1. Is franchising a concept for me?
Before deciding whether you will visit a franchise expo or fair, try to solve this basic question. The goal is to make sure you have the profile to be a franchisee. Therefore, you should analyze if you are willing to:
- Follow instructions, methods and guidelines in the operation of your business.
- If you will respect the intellectual property of the franchisor.
- If you will actually operate according to the manuals given to you.
- Yes you will ask for authorization for many actions.
- In case you have any doubts about your answers to these questions, franchising is not a business model for you.
2. Do you know why you are going to the fair?
Days before the event, research the exhibiting brands on the Internet and identify the concepts that catch your attention, as well as their origin, whether they are part of the Mexican Franchise Association (AMF) or some other organization that endorses their brand. The recommendation is that you first attend the stands of the brands of interest to you. But yes, be sure to visit the entire fair, since you can find franchises that you had not considered in your original search.
3. What is the best franchise?
Impossible to answer this question. Rather, you should look for the best franchise for you, according to your circumstances and needs. Define what you like to do, how much money you have, where you plan to operate the franchise, whether you will operate it directly or entrust it to someone else, if you will have partners or you will make the investment alone, and when you plan to start operations. It is your circumstances and needs that count for you to make the best selection.
4. Interview the exhibitors
Make the most of the information provided by the representatives of the franchises that interest you. According to official figures from the International Franchise Fair, it is estimated that in recent editions more than 30,000 visitors attended the event. Therefore, consider that those in charge of the stands will seek to answer your questions, as well as those of many other interested people at the same time.
The days that the event lasts are essential to have the first contacts with the franchises of your interest, which is why it is recommended that you prepare clear, direct and concise questions. This in order to take advantage of the time that the franchisor gives you. This way, you will get important information from them. For example: if there are franchises available for the area where you plan to operate, if they have technical assistance programs or if they were developed by a certified consultant, etc.
5. Remember that “the lion is not what they paint it to be”
When visiting the fair, be very careful with the “big productions”: luxury stands, attractive hostesses, promotional items… Don’t be dazzled! Better yet, visit those stands that interest you regardless of their size; Talk to those in charge, look at their position in the company and pay attention to the information they give you. One more piece of advice: be sure to visit small stands and consider those endorsed by certified consulting firms.
6. Compare the different options
Don’t make decisions on impulse or “gut feelings.” Remember that it is a business and, therefore, not mixing feelings is a very good recommendation; You should briefly analyze the selected options without making hasty decisions. Also, investigate if there are one or more brands of the industry of your interest at the expo and compare them with each other. Also search the Internet to see if there are more franchises that have not exhibited at the event. Purchasing a directory can give you a clearer idea of the world of possibilities you have. Likewise, you can use these tools as references at all times.
7. Research thoroughly
Don’t stick with the information they gave you at the fair, go deeper and consult everything you can about the franchises that interested you, using reliable sources. For example, ask the AMF, investigate their background with consultants certified by the association itself, and talk to franchisees who are part of the network in which you are interested. All this so as not to be left with doubts.
8. Meet the franchisor
If you have complete information and are 100% determined to enter the franchise system, it is highly recommended that once your options have been narrowed down and you have established the first contact with the brand of interest, a meeting be held at the offices of the franchising company. Consider the city of origin and consider the necessary expenses.
When you are finally in the place, check if they comply with everything they have told you, if their infrastructure is adequate, if they serve you professionally and most importantly: if there is “chemistry” on the part of the franchisor.
9. Look for financing
It is important that you verify if the franchise(s) you are interested in are accredited with the AMF and if you are a candidate to obtain the corresponding benefits. If you visit the FIF, go to the government agency stands where they will explain in detail what support they have. Likewise, ask the franchisor if it contemplates any form of financing on its part.
10. Get involved
Get closer to the world of franchising through training: buy books; read specialized magazines and websites such as Entrepreneur and SoyEntrepreneur.com, newsletters and blogs; attend courses, etc. Remember that to know how to do business one must educate oneself on various topics. For example, in terms of service franchises, the relevance of technical assistance, best practices in other countries… In short, there are many topics about franchises; The good news is that today you have several sources of consultation, both national and international.
On the other hand, take the opportunity to train yourself through conference cycles that are normally presented at fairs and expos, which are aimed at potential investors, who like you seek to improve their future with the acquisition of a franchise. Research the topics of your interest and attend the complete cycle; They are 100% recommended investments to learn a little more about this business model.
And finally, here is one of the quotes from the American writer Eric Hoffer that said: “in times of change, those who are open to learning will take control of the future.”