How to Think Like The Informed Franchisee with Jenny Gonzalez

After graduating from Furman University, Jenny Gonzalez of The Informed Franchisee spent more than two decades in healthcare leadership, where she focused on strategic growth, operations, physician relations, business development, and community partnerships. A few years ago, she and her husband decided to pursue small business ownership by investing in a franchise. Like many first-time franchise owners, they were excited to build something that could benefit their community, and for more than four years, they focused on growing the business, serving customers, and supporting their team.

Earlier this year, Jenny began taking a deeper look at the franchise purchase process and the information her family had relied upon when making their investment. That research ultimately led to the creation of The Informed Franchisee. Today, Jenny’s drawing on her background in leadership and governance, along with her experience as a franchise owner, to build a resource where people can ask thoughtful questions, access educational information, consider different perspectives, and make informed decisions about franchising.

Franchise purchase process

The Informed Franchisee grew out of my own experience as a franchise owner.

When my husband and I purchased our franchise, we genuinely believed we had done our homework. We worked with people we believed were trusted advisors, asked questions, and followed the process we were given. Like many first-time franchise buyers, I simply didn’t know what I didn’t know.

It wasn’t until more than four years into our franchise journey—after our business had struggled for several years—that I began taking a much deeper look at the information and representations we had relied upon during the purchase process. As I researched and compared what I later learned with what I understood at the time, I realized there were important questions I simply didn’t know to ask and information I didn’t know to independently verify.

Looking back, I also came to understand that some of the people I viewed primarily as trusted advisors had roles in the franchise sales process that I did not fully appreciate at the time. That realization wasn’t about assigning blame—it was about recognizing that I had relied on assumptions instead of independently verifying information because I didn’t yet know what needed to be verified.

Based on what I know today, I would have approached my due diligence very differently, and I would not have made the same investment decision.

That’s why I created The Informed Franchisee. My goal isn’t to discourage people from franchising. I believe franchising can be an incredible path to business ownership, and I’ve seen many franchise systems create tremendous opportunities for entrepreneurs. My goal is to help prospective franchisees become more informed by asking better questions, independently verifying important information, understanding the purchase process more thoroughly, and making decisions with as much knowledge as possible before making one of the biggest financial investments of their lives.

I also hope The Informed Franchisee becomes a place where prospective franchisees, current franchisees, franchisors, attorneys, consultants, lenders, suppliers, and other industry professionals can engage in thoughtful, respectful conversations about transparency, ethics, accountability, and what it takes to build stronger franchise relationships. If we can help even one family avoid making a decision they don’t fully understand—or help them move forward with greater confidence because they asked the right questions—then we’ve accomplished our mission.

I always say that life is about relationships, and I believe business—and franchising in particular—is no different.

The strongest franchise systems are built on strong relationships. Those relationships require honesty, transparency, communication, mutual respect, accountability, and a genuine commitment to helping one another succeed.

While the relationship between the franchisor and franchisee is at the center of it all, those same principles should extend to every relationship connected to the business—between franchisees, suppliers, vendors, consultants, lenders, support teams, and everyone else involved. Every interaction matters, and every person has the opportunity to contribute to a culture of trust.

I also believe the strongest franchise systems view franchisees as long-term business partners, not simply customers who purchased a franchise. They set realistic expectations, encourage meaningful due diligence, communicate openly, listen to feedback, and are willing to address difficult issues directly rather than avoid them.

At the end of the day, a successful franchise system isn’t built simply by selling more franchises. It’s built by creating successful franchisees. When everyone is working toward that shared goal, the entire system becomes stronger.

Informed investment decisions

My first piece of advice is simple: take your time and seek insight from unbiased sources and professionals. A franchise purchase is too significant to rush because of a sales timeline, expiring incentive, training date, or fear of losing a territory.

First, don’t rely solely on the current Franchise Disclosure Document. When possible, review prior years’ FDDs and compare them carefully. These documents are often available for free through certain state regulatory agencies, such as the Minnesota Department of Commerce, as well as other public resources.

Look for changes in financial performance representations, fees, investment ranges, litigation, openings and closures, franchisee turnover, supplier relationships, and other key disclosures. Differences don’t necessarily signal a problem, but they may highlight areas that warrant further questions and independent verification. Resources like The Informed Franchisee can help you understand what to compare and why it matters.

Second, don’t limit your questions to the sales team. If you encounter inconsistencies or unclear information and are still considering moving forward, ask the same questions across multiple levels of the organization. This may include the salesperson, senior leadership, operations or finance teams, and, when appropriate, the franchisor’s legal representative. Pay attention not only to the answers themselves, but also to whether they are clear, consistent, documented, and directly responsive.

Third, verify as much information as possible on your own. Try to contact as many current and former franchisees listed in the FDD as you can, and be persistent in your outreach. Ask thoughtful questions to understand both the positives and the challenges, including real-world obstacles and outcomes.

Don’t rely only on individuals introduced during discovery calls. If you cannot reach several listed franchisees, ask the franchisor for an explanation. In most cases, you should be able to connect with them.

This process is about validation—gathering the information you need before making an investment decision. A franchisor focused on long-term success should offer transparency and reasonable access to its network.

One of the most important things a franchisee can do is build relationships with other franchisees throughout the system. The more perspectives you hear, the better you’ll understand the realities of the business. It’s easy to assume everyone else is doing better than you are—or, in some cases, that everyone is facing the same challenges you are. Neither assumption is necessarily true. Having honest conversations with a broad range of franchisees helps provide valuable perspective and reduces the risk of drawing conclusions based on only a few experiences.

It’s also critical to understand your numbers. Know your financial statements, understand your key performance indicators, and make sure you’re comparing apples to apples when evaluating your performance against others. Financial comparisons are only meaningful if everyone is measuring and reporting the same information in the same way. Don’t be afraid to ask questions about definitions, reporting methods, and assumptions so you’re making informed comparisons rather than inaccurate ones.

I also encourage franchisees to continue learning beyond their individual brand. Get involved with independent franchisee organizations, attend educational programs, read industry publications, and learn about franchising as a business model—not just the products or services your business provides. Understanding franchise law, governance, advocacy, and industry trends can make you a stronger business owner and better equipped to navigate challenges as they arise.

Finally, stay curious. Continue asking questions, documenting important information, and seeking to understand how decisions are made within your franchise system. The most informed franchisees don’t stop learning after they sign their franchise agreement—they continue learning throughout their ownership journey.

Industry transparency and growth

If there’s one area where I believe the franchise industry has an opportunity to grow, it’s strengthening transparency and accountability throughout the franchise sales process. As someone who generally believes in limited regulation, I don’t say this lightly. But buying a franchise is often one of the largest financial investments a family will ever make, and I believe there should be meaningful safeguards to help ensure prospective franchisees are making informed decisions based on complete and accurate information.

I also believe there should be a more balanced framework when there are credible claims of material misrepresentations during the franchise sales process. Today, resolving those disputes can require significant time, expense, and resources, making it difficult for many franchisees to pursue legitimate concerns. A process that provides a more practical path to resolving those disputes would benefit both franchisees and ethical franchisors by reinforcing trust, accountability, and confidence in the franchise model.

Another area worth examining is transparency surrounding franchisee exits. In some situations, departing franchisees enter into confidential settlement agreements. While I understand there can be legitimate reasons for confidentiality, prospective franchisees also depend on learning from the experiences of both successful and unsuccessful owners as part of their due diligence. When information about those experiences is unavailable, it can make it more difficult for prospective franchisees to fully understand the range of outcomes that may exist within a franchise system.

Ultimately, I believe the vast majority of franchisors genuinely want to build successful brands and support successful franchisees. Greater transparency, meaningful accountability, and a more balanced process for addressing disputes would strengthen confidence in franchising and help preserve it as an outstanding pathway to business ownership.

I believe transparency isn’t something to be feared—it’s something to be embraced. Shining light on difficult issues may create discomfort in the short term, but it also creates opportunities for growth, accountability, stronger relationships, and better outcomes. That’s true in franchising, in business, in government, in nonprofits, and in life. The organizations that are willing to listen, learn, adapt, and improve are the ones that earn trust and build lasting success.

Right now, my focus is on continuing to build The Informed Franchisee into a trusted educational resource and a place where respectful, constructive conversations can happen across the franchise community.

We only launched a few months ago, so we’re still learning and evolving. Every week, I uncover new information that deepens my understanding of the franchise industry, and my hope is that others can benefit from that work so they don’t have to learn every lesson the hard way.

My vision is for The Informed Franchisee to become a place where prospective franchisees, current franchisees, franchisors, attorneys, consultants, lenders, suppliers, and other industry professionals can easily access information, find educational resources, ask questions, explore different perspectives, and better understand the franchise industry.

I also hope to be a resource for people who simply want another perspective. Sometimes they don’t need someone to tell them what decision to make—they just need someone to listen, ask thoughtful questions, help them think through their options, or point them toward reliable resources that allow them to make their own informed decisions. I genuinely enjoy those one-on-one conversations because I believe they can make a meaningful difference.

Ultimately, my vision isn’t just to grow a publication or a LinkedIn page. It’s to build a trusted resource where people across the franchise community can easily access information, ask questions, explore different perspectives, and continue learning throughout every stage of franchise ownership.

If The Informed Franchisee helps people make more informed investment decisions, strengthens trust within franchising, and encourages thoughtful, informed conversations across the industry, then I believe we’ve accomplished exactly what we set out to do.