Q & A
Welcome! Listed below are the typical questions that people have asked us. If you don’t see a question listed below that you have, please feel free to contact us directly.
Why should I use a Franchise Consultant instead of contacting Franchise Companies directly?
If and use our proven franchise selection and investigation process, it will save you time and money — while also helping you avoid making costly mistakes. Also, our years of experience and careful pre-screening of franchise companies will help you understand why certain opportunities are better than others. We will show you the safer and most attractive business opportunities. If you have never evaluated a franchise company before, you will quickly see it can be an ominous task. It is easy to lose your objectivity without the guidance of an experienced person who is NOT beholden to counsel you to choose to take advantage of our expertise and any-one franchise company.
With so many variables involved, how will you help me find the right Fit?
Our consultants will guide you through a very thorough and proven process designed to help you first assess and document your skills and goals — then to pre-qualify the types of business models you want to work with then to match you to franchise businesses within these models. They will obtain your responses to a great number of questions, such as:
- What characteristics are important to you in a business? Hours, the number of employees, physical plant, office location, etc
- What kind of business would excite you?
- What would you like to do day in, and day out, 40 to 60 hours a week?
- What are your strengths and weaknesses in operating a business?
- What kind of experience, training, and education do you have?
- What role do you want to play in the business? Sales? Operations? Marketing? Management? Customer Service?
- How would you like to finance your business and what more do you need to know to do this?
- Are you seeking a one-level or a two-level system?
- Would you prefer an opportunity that affords multiple locations? An established system, or a new system? A new territory or a resale territory? And do you know the advantages or disadvantages of each choice?
- How soon do you want to be open for business?
- Do you have a partner? Are you planning on having investors?
With this information and more, I will be able to guide you and suggest franchise opportunities that match up well with what you seek in a business. With the thousands of franchise opportunities available today the search can be almost overwhelming. We have done a great deal of the work for you. We have carefully pre-screened hundreds of franchises and determined the best opportunities. We have companies in the fast food, specialty food, retail, business to business services, home based, serviced oriented, auto aftermarket. Opportunities range from $50,000 to several million dollars
Why buy a Franchise?
More and more people are seeking ways to gain greater control of their lifestyle and income…and for qualified individuals, owning one’s own business is a proven method of achieving this control. Many employees have discovered that large corporations are not the haven of mutual loyalty, secure employment, rising pay raises, and a family oriented support that they once were. Perhaps you have found this to be true in your life. For many folks, being one’s own boss is a better alternative to the growing uncertainty found today in corporate America.
This all adds up to a reduced level of risk and a higher level of success. The bottom line is you can be in business for yourself but not by yourself.
- ongoing support
- excellent training
- a solid business plan
- proven marketing and advertising programs
- experts from the franchise company providing day to day advice and assistance
- a proven method of doing business
What financial assistance is available?
Financing doesn’t have to be a daunting subject — there are many resources available to you (SBA Loans, 401K Rollover Loans, Home Equity Lines of Credit just to name a few) to raise the amount of investment capital you will need. But because the subject of financing is so broad and so important, we recommend you discuss this first, in general, with your consultant and then allow your consultant to introduce you to experts who can provide specific assistance.
How much cash do I need?
Each franchise company’s requirements are different but the minimum requirement to qualify for lower-priced franchise opportunities tends to be $20,000 liquid and $100,000 net worth. Few people pay cash for a new business. Typically a business loan is obtained. Our experienced consultant advisors will explain all of your financial options.
What is the Franchise Disclosure Document?
The Franchise Disclosure Document (referred to as the FDD or disclosure document– used to be called the UFOC) is the document that a franchise company is required by law to give to a prospective franchise buyer before the franchise can be purchased. This document covers information regarding the franchisor, its management, its financial history, and the material terms and conditions of the Franchisee/Franchisor relationship. It must explain to you all the initial costs of the franchise, the costs to start the business, any litigation the company has in its history, it must disclose the names and phone numbers of its existing owners, as well as past owners. The FDD was created to establish a consistent and uniform format for disclosure throughout the United States. Its intent is to provide a prospective franchise buyer with a good deal of information with which to make an informed decision. I will help you better understand information supplied in the FDD. Also, I will help you plan and organize calls to existing franchise owners for an, even more, thorough understanding of the business before you make any decision.
Do you have personal commitments or family conflicts that may affect your target opening date?
Unless you already own a suitable building, have existing office space, or are buying a home-based business, you will need to find a location for your franchise. The Franchise Agreement will include specific requirements regarding site selection and many even have relationships with real estate companies or in-house real estate departments whose jobs are to help you find locations.
Will my personal or financial information be sold to anyone? Absolutely not, this information cannot, by law, be shared with or sold to anyone without your sole permission.
When will you send my information to a Franchisor?
Our process is to send your information to the franchise companies after you have listened to the presentations. However, we only do when you have authorized us to do so.
If we did not answer all of your questions, please feel free to contact us and ask any other questions utilizing the form below. I am here for you.