It is important for prospective franchise owners to conduct due diligence and research the franchisers they are most interested in before deciding to own a franchise. Just like any other business opportunity, franchising involves a certain degree of risk. Our team of franchise consultants has the expertise to help prospective franchisees minimize these risks.
The process of evaluating the franchisor entails understanding their history, market and revenue generated from other franchisees. We delve into the past in order to know the length of time the franchisor has been in business, knowing whether the franchisor has a good reputation for quality services and even their financial health along with the number of franchisees available and other important information. We present our findings to our clients so they can make an educated decision when choosing the best franchise opportunity for them.
Franchisors are required by law to provide prospective franchise owners with a Franchise Disclosure Document (FDD). This document is important in the franchise evaluation process. It includes key information like franchise fees, termination clauses, restrictions and procedures, renewal provisions, franchise territory and training, to name a few. We help our clients understand the important details of the FDD and how it applies to their future plans and desired franchise locations.
As you can tell, there is plenty of information that needs to be ascertained in determining potential franchise opportunities that may be a fit. This is not something we recommend anyone pursuing on their own without the assistance of a consultant or a franchise attorney.
As your franchise consultant, we can help you avoid making costly mistakes by conducting the necessary research. Contact us today and be able to confidently own a franchise or business opportunity that best matches your personal goals and business objectives.