Buying A Franchise
The Franchise Buying Process
Buying a franchise is a big decision. Your franchise consultant can help.
Below is a step by step outline of the steps involved in our franchise buying process.
20 Step Franchise Process:
- Sign Broker Agreement
- Analyze Lifestyle Needs
- Analyze Business Goals
- Analyze current financial position and future goals.
- Explore Types of Franchises
- Identify “best fits”
- Research Applicable Franchises
- Obtain Franchise Packet & FDD
- Return Receipt of FDD
- Speak in-depth with Franchise
- Interview Existing Franchisees (Validation)
- Second Interview with Franchise
- Consult with Attorney & Accountant
- Visit Franchise Headquarters
- Enter Into Franchise Agreement
- Obtain Real Estate (if applicable)
- Franchise Initial Training
- Complete Construction (if applicable)
- Open For Business
Ongoing Franchise Support
Once you have opened your business as a licensed franchisee you will receive ongoing support from the franchise. As a rule franchises provide a support system designed to make it easy to get marketing, technology or additional training. There is also typically dedicated personnel the franchisee can contact at headquarters should any concerns or questions arise.
Often the support allows franchisees to speak with other franchisees to discuss day to day or other issues they have questions about.
Stages in the Franchise Buying Process.
At each stage in the franchise selection process you will review and decide whether to move to the next stage or reject the franchise as an unsuitable business and explore other choices available to you. Each stage will reveal different aspects of the franchise. We will guide you throughout the process of finding the perfect franchise.