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

Five Ways Starting a Business Can Affect Your Marriage

Starting your own business can change your life in many ways for the better, but potentially also in some ways for the worse. The lack of stability compared to a 9-to-5 job can lead to new stresses, including those on your existing relationships. These are five ways starting a new business can affect your marriage, or really, your entire family.

How this Barbershop Franchise is Replicating the Nostalgic Neighborhood Feel

For those of you who prefer to read the interview, below is the official transcript…

5 Fast Growing Franchises in 2015

Which franchise should you open? There are a lot of factors that go into that decision, but one criterion that you absolutely have to consider is how quickly that franchise is growing. You can imagine what it would have been like to open a McDonald’s way back in the 60’s or 70’s, seeing that it has turned into one of the most successful franchises of all time.