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!

Time Saving Tips for Franchise Shoppers

Time is a precious commodity these days and although buying a franchise is a time consuming process, there are ways to cut to the chase. Of course you should do your due diligence, but first make sure you’re focused on viable choices. Here are some tips to quickly identify the best franchise opportunities for you so no time is wasted.

  1. Know what you want. Before you even begin shopping around, clarify what you want in a franchise business. Make a checklist of the characteristics you’re looking for. Use your checklist to quickly weed out franchises that don’t fit the bill.
  2. Know your limits. Have your accountant help you determine how much you can invest. Then look in the FDD/UFOC to find the amount of net worth and liquidity that's required by the franchise. Don’t waste time investigating a franchise you can't afford.
  3. Look for open territory. Ask the franchisor if there are opportunities available in the area where you want to locate your business. If not, look elsewhere.
  4. Review Item 3 in the FDD/UFOC. That’s where the franchisor is required to disclose any relevant litigation history. It will give you clues about the organization’s relationships with its franchisees.
  5. Don’t bet on bad odds. Check the franchisor’s failure rate. You’ll find it in Item 20 in the FDD/UFOC. If the track record doesn’t look so hot, it’s probably not. Move on.
  6. Have the right stuff. A good franchisor will tell you what characteristics and skills they expect from franchisees. If you don’t measure up, you’re wasting your time and theirs.
  7. Get the inside scoop. Find out if a franchise is a good match for you by talking to the company’s existing franchisees. Get on the phone and start asking questions. You’ll quickly get a sense of what it would really be like to become a franchisee in this system.

To learn more about franchise opportunities and business opportunities, visit us at FranchiseHelp

Talking with Current Franchise Owners

Reading through a FDD is a key part of your research, but it can’t answer all the potential questions you might have about how it is to actually operate a given franchise. The best way to do this is actually to start talking to current franchisees. The best way is to this is to call or visit a franchisee, don’t just email them. You might need to be a bit persistent, but if you are then you can get all of your questions and concerns answered.

Top 10 Industries For a Recession: Is Your Industry On The List?

No matter what's going on, people still get sick and injured. Some studies have also shown that healthcare needs increase during recession due to the associated stress.

Why H&R Block is the Best Known Tax Franchise in the World

Our experience and longevity have established the H&R Block brand as one that is synonymous with quality, expertise and stability in the minds of the public. This reputation is the biggest advantage a franchisee can have over the competition.