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>>> Franchise Buying Steps
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Your 10 Step Process to Success
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Contact Us
There is no time like the present to see what options you have. Your contact
information is kept confidential and is reviewed only by us to provide
you the best opportunities.
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First Appointment
We will contact you to set up a telephone appointment to discuss your goals
in finding the right franchise for you. This will take less than an hour and will be
the most effective time you have spent in your search for a franchise. Understanding
your particular goals and needs will allow us to find the best opportunity for
you. We will set a follow-up appointment to present you with opportunities
that fit your requirements.
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Research
We take the information provided by you, research available franchises, and match
them with your stated goals and needs. There are over 2,000 franchises and our goal
is to identify four franchises that will be a perfect match for you.
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Presentation
We present you with the opportunities that we have identified in our research. This
meeting should accomplish two goals. First, if any of the opportunities are of interest
to you, then we will arrange an introduction directly to the representative of the
franchise. This will require that you complete and submit a confidential questionnaire
to be supplied to the Franchisor. The Franchisor wants to know that you are financially
qualified to purchase their franchise, that your time frame to buy is within reasonable
limits, and that your partners or family are in complete agreement with you buying
a business. This does not obligate you in any way. It simply shows the Franchisor
that when you find the right opportunity then you are capable of buying it.
Second, this step will allow us to clarify your goals and needs
identified in Step 2, sending us back through Steps 3 & 4. This may take place
several times throughout the process.
It is important to remember that we are presenting opportunities, but you must
make the decision that is best for you and your family. Therefore, refining the criteria
for the best opportunity for you is an ongoing process.
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Introduction to Franchisor
For each of the opportunities that you have an interest, we will introduce
you to the Franchisor. The Franchisor will send materials to help you become
acquainted with their franchise. They will also send the Uniform Franchise
Offering Circular (UFOC), which is a disclosure document for their franchise
opportunity. The UFOC receipt should be signed and returned immediately.
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Review of the UFOC
We will discuss the items that are contained in an UFOC; in particular, items
that you should pay close attention. You should then review the UFOC in
complete detail writing down any questions or concerns for discussion with
the Franchisor. The UFOC will contain a list of franchisees and contact information.
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Call Franchisees
The Franchisor should provide you a list of several franchisees for you
to call to ask questions about the franchise. The reason for calling these
references is that you want to ask them why and how they became
successful. Then you need to determine if you can be do the same things
that they did to be successful.
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Consultation with Attorney and Accountant
You should always consult with an attorney and an accountant before
making a decision. It is important to insure that both people have a good
background in franchising. If they don't, then the process may cost you
more than you needed to pay while they do their research. We can help
you find skilled professionals in your area.
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Attend a Discovery Day
Most franchisors have a Discovery Day, where they will invite you to their
location. You will not only get crucial information for your decision, but will
get to meet the staff that will be providing your initial training and continuing support.
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Decision Time
You have taken all of the steps up to the door, and now you must
open it. Decision time. Congratulations. You have decided to buy a
franchise. You have become a “Frantrepreneur,” a cross between traditional
entrepreneur and a modern franchise owner; a person who possesses the desire
to be a business owner but does not want to recreate the wheel.
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