Once you’ve done your homework research, you might wish to interview a potential franchisor. You should have a list of questions that popped up as you did your investigation. Focus on the areas that will help you determine the strength of the franchise. What are the pretax net profits of existing operations? Compare them against [...]
The first step to investigating any franchise is to locate the system’s Uniform Franchise Offering Circular (UFOC). The UFOC is also called a Franchise Disclosure Document (FDD). This is the formal documentation that gives extensive information about the franchisor and the franchise organization. The point is to give you, the potential franchisee, enough information to [...]
Once you’ve generated a list of companies you are interested in working with, you need to investigate each one further. There are over 3,000 franchise opportunities available today. This research will give you a fuller picture of the franchisor to help you make an informed decision. History Lesson How long has the franchisor been in [...]
Interested in opening a franchise? This week, we feature a beginner’s guide to some of the activities you will need to complete before you start, including reading a FDD and interviewing a franchisor. Successful franchisees It cannot be stressed enough: research is important. You must do your homework. Successful franchisees conducted careful market research, developed [...]
FranNet has a long history of being “franchise matchmakers” for those who want to look at alternatives to a corporate career. I have been fortunate to work as a FranNet consultant, and to learn about the importance of our process in making the right “match” for our clients. During its 25 year history, FranNet has [...]
For the unemployed, or for those whose retirement funds have taken a serious hit as a result of the recent economic downturn, entrepreneurship may present enticing possibilities, according to the franchise experts at FranNet. But, concerns about financing and supporting a new small business stop many would-be entrepreneurs from pursuing the option. While nearly one [...]
Maybe you’re thinking of becoming a small business owner via purchasing a franchise. Or perhaps you just want to be in the know on franchise lingo. Either way, today’s post will help you make sense of the sometimes confusing jargon of the franchise world. Today we’re looking at alternatives to franchises – distributorships and licensing [...]
What does the infamous Looney Tunes cartoon character have to do with the sales activities of your business? I’m glad you asked. In his pursuit of the Roadrunner, Wile E. constantly displays tireless pursuit, unlimited optimism and the willingness to do whatever it takes. All of these characteristics are positive sales attributes to a point [...]
Common Franchise Words and Definitions Maybe you’re thinking of becoming a small business owner via purchasing a franchise. Or perhaps you just want to be in the know on franchise lingo. Either way, today’s post will help you make sense of the sometimes confusing jargon of the franchise world. This week we’ll present a primer [...]
Mark Cory of FranNet Detroit worked with Tom G. of Grosse Pointe Park, MI. Mark provided support and guidance to Tom throughout the franchise selection process and helped Tom select a senior care franchise with the Synergy HomeCare family! Tom has spent most of his career in the IT world working for large companies like [...]
