Buying a franchised business, like any other business venture, comes with risk. You can reduce your risk profile and boost your chance of success by fully vetting your potential franchise system and making sure it can provide three things to you: Recognized Trademark Operational Systems Business Assistance If a franchisor can provide these three things, […]
Is Buying a Franchise a Good Idea? Read More »
Many entrepreneurs and business owners have heard the rumor (and might even believe) that franchised businesses are “safer” or “less risky” than independent or non-franchised businesses. However, if asked to explain this belief, they might balk. The rumor is one of those accepted entrepreneurial clichés that people repeat without knowing exactly why—like “you should incorporate
Are Franchises Less Risky Than Independent Businesses? Read More »
Many first-time business buyers are shocked at how little information they receive about a business in the early stages of the buying process. And yes, it’s true that the financial information isn’t going to be all-inclusive. But financial information isn’t all there is to know about a business. You can and should use all (legal)
How the In-person Visit Fits into the Business Buying Process Read More »
You know that the old saying: “You can’t buy something until you’ve found it.” This adage holds true for a business as well. Even if this sounds pretty straight forward, the simplicity is deceptive. Businesses don’t hang “for sale” signs in their windows. And even if they did, finding a business that’s for sale isn’t really
The Secret to Finding the Right Business to Buy Read More »
The Federal Franchise Law and the franchise rules and regulations issued by the Federal Trade Commission govern a franchisor’s distribution and obligations in the disclosure of their Franchise Disclosure Document (FDD). In some states, franchise systems also have to register and get their FDD approved at the state level. Every FDD must include these 23 disclosure items.
FDD and Me: What Are the 23 Franchise Disclosure Items? Read More »
Before you purchase a franchise, you must consider the decision carefully. With the sizeable franchise fee on top of the normal costs to get the operation up and running, you will likely pay considerably more to open a franchise than if you were to start your own business or buy an existing independent business. These higher
Three Things Every Franchise Must Provide Read More »
Owning and operating a business, being your own boss, is an inextricable part of the American Dream. However, many people believe that starting your own business or buying an existing business is too risky a proposition. Instead, they will consider buying into a franchised operation. Because the concept has been accepted in the market and,
Is a Franchise Your Path to Financial Freedom or Ruin? Read More »