In Part 1, you checked out your franchise options and decided to purchase a franchise. You have decided which one of the 75 franchising industries is right for you and have narrowed it down to maybe three or four different companies. The big decision now is to select the one franchise that is right for you.
Business demands that we think with our head and our heart, but when doing research, the head must take the lead. You are risking your money, your time and your career, so the choice you make must be congruent with your lifestyle and needs. Researching each option is the key. Here are five simple steps to help you
Betty Otte, SCORE Counselor
In Part 1, you checked out your franchise options and decided to purchase a franchise. You have decided which one of the 75 franchising industries is right for you and have narrowed it down to maybe three or four different companies. The big decision now is to select the one franchise that is right for you.
When most of us think about franchises, we are referring to the business-based franchise like the top 500 franchises published in Entrepreneur magazine each year. Entrepreneur’s 75 different categories range from automotive to services, but they all have one thing in common—a systematic method to deliver services or products.
Franchising is not for everyone, but for an individual who has limited business experience or someone who enjoys working within an established system, franchising can be the best possible path.
Betty Otte, SCORE Counselor
When most of us think about franchises, we are referring to the business-based franchise like the top 500 franchises published in Entrepreneur magazine each year. Entrepreneur’s 75 different categories range from automotive to services, but they all have one thing in common—a systematic method to deliver services or products.
Published Mar. 30, 2011
A franchisor will send you the company’s Franchise Disclosure Document (FDD) once you have filled out an application and indicated serious interest in the franchise.
The FDD very clearly defines what the franchisor will do for you and what s/he expects of you. There are 23 important parts to review.
The Federal Trade Commission (FTC) protects franchisee prospects up until the point of sale, but once the franchise is purchased, the FTC looks upon the business as any other start up so the UFOC becomes vitally important in providing you protection at this point.
Betty Otte, SCORE Counselor
A franchisor will send you the company’s Franchise Disclosure Document (FDD) once you have filled out an application and indicated serious interest in the franchise.
The FDD very clearly defines what the franchisor will do for you and what s/he expects of you. There are 23 important parts to review.
If you are thinking about purchasing a franchise, keep the following 5 tips in mind.
Betty Otte, SCORE Counselor
If you are thinking about purchasing a franchise, keep the following 5 tips in mind.
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