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Automotive Franchise
 Myth Guided Franchise Marketing Disspelling the BYOB Myth
Buying a Franchise What Every Entrepreneur Needs to Know
Understanding And Creating A Franchise Business Plan
Franchise Opportunities Are Not Always As Good As They Sound
10 Tips for Researching a Franchise Opportunity
Before Buying A Franchise There Are Important Franchise Information That You Need To Know
Franchises Success and You
Searching for the Right Franchise Opportunity
Great Franchise Opportunities
How To Select a Franchise
Fitness Franchise
Advantages Of The Franchise Business And Why They Are Considered Such Great Opportunities
Franchise Opportunity Questions To Ask The Franchisor 33
Business Opportunity Creation
Opening a Franchise Business
Helpful Hints for Buying a restaurant Food Franchise
Buying a Franchise
Look For Franchise Business Opportunities At The Right Places
The Next Internet Millionaire
eBay Franchise
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Seven Secrets to Buying a Franchise
There are great benefits to owning a franchise. You often can
sell goods and services that have instant name recognition and
can obtain training and ongoing support to help you succeed.
But be cautious before you sign on the dotted line.
1. Know How Much You Can Invest - A franchisor may tell you how
much you can afford to invest or that you can't afford to pass
up this opportunity. Before beginning to explore investment
options, consider the amount you feel comfortable investing and
the maximum amount you can afford.
2. Know What Type of Business is Right for You - A franchisor
may attempt to convince you that an opportunity is perfect for
you. Only you can make that determination. Consider the industry
that interests you before selecting a specific franchise system.
Ask yourself the following questions: Have I considered working
in that industry before? Can I see myself engaged in that line
of work for the next twenty years?
3. Realistically Evaluate Your Own Background and Skills - If
the industry does not appeal to you or you are not suited to
work in that industry, do not allow a franchisor to convince you
otherwise. Spend your time focusing on those industries that
offer a more realistic opportunity.
4. Take the Time to Comparison Shop -- Talk to or visit several
franchisors engaged in the type of industry that appeals to you.
Get answers to the following questions: * How long has the
franchisor been in business? * How many franchised outlets
currently exist? * Where are they located? * How much is the
initial franchise fee and any additional start-up costs? * Are
there any continuing royalty payments? * How much? * What
management, technical, and ongoing assistance does the
franchisor offer? * What controls does the franchisor impose?
5. Get Substantiation for Any Earnings Representations -- Some
franchisors may tell you how much you can earn if you invest in
their franchise system or how current franchisees in their
system are performing. Be careful. The FTC requires that
franchisors who make such claims provide you with written
substantiation. Make sure you ask for and obtain written
substantiation for any income projections, or income or profit
claims. If the franchisor does not have the required
substantiation, or refuses to provide it to you, consider its
claims to be suspect.
6. Avoid High Pressure Sales Tactics -- You may be told that the
franchisor's offering is limited, that there is only one
territory left, or that this is a one-time reduced franchise
sales price. Do not feel pressured to make any commitment.
Legitimate franchisors expect you to comparison shop and to
investigate their offering. A good deal today should be
available tomorrow.
7. Study the Franchisor's Offering -- Do not sign any contract
or make any payment until you have the opportunity to
investigate the franchisor's offering thoroughly. The FTC's
Franchise Rule requires the franchisor to provide you with a
disclosure document containing important information about the
franchise system. Study the disclosure document. Take time to
speak with current and former franchisees about their
experiences. Because investing in a franchise can entail a
significant investment, you should have an attorney review the
disclosure document and franchise contract and have an
accountant review the company's financial disclosures.
About the author:
Joan Yankowitz specializes in helping business owners realize
their potential. Learn how to take the risk out of buying a
franchise at www.howtobuyfranchise.com.
Written by: By Joan Yankowitz
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Where did franchises originate? Discover the beginning of
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The franchise business has been around a long time, in fact they
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