Tom’s Franchise Information Blog
Rare Info For Franchise Purchaser
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Those who are contemplating starting a business by buying a franchise or partnering with a company via purchasing a license agreement or through some other means are probably finding it very difficult and very time consuming to do all the research required to gather all of the information needed to make an educated decision. In fact, the truth of the matter is that if you’ve never ventured down this road before, you have no idea the plethora of information and steps you must take to ensure that you
1.) Buy the franchise that is a good fit for you,
2.) Don’t over pay for the franchise you purchase,
3.) Don’t buy into a scam,
4.) Don’t buy a job when what you really want a business,
5.) Understand the difference between a job and a business,
6.) Understand the pros and cons to investing via a franchise versus starting a business of your own with your own brand name,
7.) Do a thorough and preliminary check of the franchise financial statements,
8.) Know the right question to ask the franchisor and its franchisee/members,
9.) Understand what’s in the UFOC,
10.) Know the difference between a franchise and a business opportunity,
11.) Understand what most franchise consultant will do for you and what they want do, and the list goes on.
There is an old saying that the purchase of a home is the most important purchase and decision you will ever make in your life. However, if you decide to venture into business by purchasing a franchise, the investment you will make in terms of time and money makes such a business investment decision far greater in importance than buying a home. In fact, if you invest in the wrong franchise or sign a bad contract, you could find yourself losing your home and much more!
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If you want to follow a systematic process for vetting franchises and other business opportunities visit Business Advisor and Counselor, Inc. (BAACI) today to take advantage of the free tools created by the company’s founder who has researched several franchises and business opportunities and has been in negotiations with several franchise owners and presidents over the past 10 years. Useful Links: That's when taking out a short term loan can come in handy. Leave a Reply »»
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