Growth Strategies

How Do I Find a Partner for a Franchise Business?

I would like to buy into a franchise that will be the first in the U.S. but need to find a business partner with experience in the restaurant business. How would I find this person?
min read
Opinions expressed by Entrepreneur contributors are their own.
It sounds like what you're interested in finding is an operating partner rather than a financial partner.  If that's the case, your mission is fairly simple. 

The first thing you want to do is to scout comparable businesses -- restaurants, in your case -- to find the ones that are the cleanest, nicest and best run in the entire market. Then you want to get to know the manager of the restaurant to confirm that he or she is not also the owner.  Then you can make can offer they can't refuse (probably involving the right to earn some equity percentage) to come to work with you rather than stay where they are!

Also, you mention that this would be the first unit in the U.S. Though it might be a huge success, with no track record of successful operations in the U.S. that you can verify, your risk if you get involved is increased dramatically. Give this some careful thought before getting involved because you're really tossing the dice if you do.

More from Entrepreneur

Are paying too much for business insurance? Do you have critical gaps in your coverage? Trust Entrepreneur to help you find out.
Get Your Quote Now

One-on-one online sessions with our experts can help you start a business, grow your business, build your brand, fundraise and more.
Book Your Session

Whether you are launching or growing a business, we have all the business tools you need to take your business to the next level, in one place.
Enroll Now

Latest on Entrepreneur

My Queue

There are no Videos in your queue.

Click on the Add to next to any video to save to your queue.

There are no Articles in your queue.

Click on the Add to next to any article to save to your queue.

There are no Podcasts in your queue.

Click on the Add to next to any podcast episode to save to your queue.

You're not following any authors.

Click the Follow button on any author page to keep up with the latest content from your favorite authors.

One Thing You Can Do to Be a Great Supporter of Women at Work