Researching a Franchise The Right Way is Difficult If You Don't Know How

(A very confused future franchise owner)

It’s easy to get confused after looking at several franchise business opportunities.

If you’re thinking about becoming a franchise owner, you may not want to admit something;

You really don’t know how to research a franchise business.

After all, how could you?

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Did you know how to research your first new car purchase?

(Or did someone have to show you how to do it?)

How about your first house? A diamond ring? Anything that’s considered a major purchase needs to be thoroughly researched before money changes hands. (Well, one doesn’t really “have to.” They just should.)

Onward…

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Some of my colleagues have unsuccessfully tried to convince me that today’s franchise buyer’s don’t really want to learn about franchising before they become franchise business owners. I disagree.

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Learning about all that’s contained in the Franchise Disclosure Document is pretty tough to do on your own. Especially, if you don’t really know what you should be looking for.

When it comes to franchising, the Federal Trade Commission requires all franchise companies that are registered in the United States to have a document called, the“Franchise Disclosure Document”.

This legal document contains 23 items of information for you, the prospective buyer.

Some of the information includes:

1. The business experience and background of company officers

2. Any current or pending litigation

3. Initial Investment (broken down specifically)

4. List of all franchise owners currently in the system

5. List of all franchise owners that have left the system in the past 12 months

6. Obligations of the franchisor, and of the franchisees

Those are just a few of the items that are included in the FDD. There’s a lot more.

It’s recommended that you consult with an attorney familiar with franchise law in the United States, when you’re at the point in your investigation when you’re getting serious about investing in the business.

* In July of 2008 a new rule took effect. It changed some aspects of the original disclosure document that was called the UFOC. Get an attorney who’s familiar with those important changes.

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I’ll bet that you didn’t know that researching a Maytag washing machine is exactly like researching a franchise business. Read about the washing machine

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What do you really want to know, when you’re researching a franchise? I’ll guess that you probably want to know this unimportant little piece of information;

“How Much Can I Make?” This article gives you a step-by-step way to find out.

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If you’re thinking about buying a franchise, and embarking on the great adventure that I call small business ownership, researching a franchise is the most important part of the entire process. If you really think that you know exactly how to do it, please don’t read any further. Best of luck!

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Good job. Admitting that you need a little help with this is quite admirable.

(Even more importantly, admitting that you don’t have all the answers could help you save hundred’s of thousands of dollars in lost income, and personal savings, because you missed some really important things in your franchise research.)

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I have taught hundreds of prospective franchise owners just like you how to properly research franchises. I can teach you, too.

Go ahead. Click the eBook cover, below.