Identify the perfect franchise for you! Take our short quiz Take our free franchise quiz!
Identify the perfect franchise for you! Take our short quiz Take our free franchise quiz!
Identify the perfect franchise for you! Take our short quiz Take our free franchise quiz!

10 Questions to Ask Yourself and Your Future Franchisor

When considering prospective franchise opportunities, it’s important to know the right questions to ask to get all of the details necessary to make an informed decision about your purchase. Researching the background of your franchisor, and determining the support and assistance they will be able to offer you as you get started are just two key elements that you will want to consider before you sign any contracts.

  1. Have you and your lawyer looked over all of the franchise documents, and feel that the terms and conditions are fair and equitable? Do you understand all of the terms and conditions set out in the contract? Do you feel comfortable signing the contract?
  2. Will you have exclusive territory rights for the duration of your contract, or is there a risk that your franchisor will allow other businesses to start up within your chosen area?
  3. What will happen if you want to end your contract? Are there penalties involved, or are there circumstances under which this is acceptable?
  4. Are there any requirements within your contract that would encourage you to engage in illegal or questionable practices? This is a huge red flag that you shouldn’t be involved with the business.
  5. How many years has your franchisor been in business, and how many other franchises do they have within their chain?
  6. What kind of support will you receive as a new franchisor, and then as an established franchise? Is there training, upgrading, and emergency support available? Are there a series of scheduled visits throughout the year?
  7. Have you had an accountant review all of the figures released by the franchisor, and have these numbers been independently verified?
  8. What kind of reputation does the franchise have within the business community? Also, can you speak with other franchisees to see how they feel about working with the company?
  9. How much money will be required to purchase a franchise, and keep it running until it turns a profit?
  10. Has the franchisor investigated franchisees thoroughly enough? You will want to ensure that they are doing their part to hire qualified people on their teams to maintain brand standards before buying a franchise from the company.
Starting a travel business during COVID-19

With the COVID-19 ravaging through the globe, tourism has (almost) come to a complete standstill. Planes are now grounded, agencies are offering refunds and tourist attractions are being shut down. Remember when we said that the travel & tourism industry was one of the top picks to get into at the start of this year? If you missed it, you can find it here. 

Profiling the Best Burger Chains in America

Once upon a time, Americans had two options to alleviate their beef binging desires: visit a fast food jointor go to a traditionalsit-down restaurant. The former often offered sub-par meals, while the latter required too much of a commitment of both time and money. The people demanded a happy medium, where they could be chowing down on quality eats within minutes of ordering.

FDD Compliance - What You Need to Know

The familiar UFOC is now obsolete. This webinar will educate you on the new terminology, new format, changes in delivery requirements, and the items in the disclosure document most changed by the new rule.