Helpful Tips

What You Need To Consider Before Buying A Franchise:

• Do I fit the profile of a successful franchisee?
  (The Self Test Evaluation Form will assist you in this area)



• Careful consideration should be given to the type of experience required in the selected franchise.



• A comprehensive understanding of the business and it's daily operations.
  Am I willing to give the amount of time and personal commitment necessary to successfully run the business?



• The total costs involved to get into the franchise as well as the required royalty fees.



• The history of the franchise, it's officers, their financial condition, and their track record.



• Evaluate how existing franchisees of this select franchise are doing.



• Are their products/services you must buy from the franchisor and are they competitively supplied and how?



• What are the terms for termination and the conditions of resale?
  (We strongly recommend obtaining a franchise attorney to examine the contracts on your behalf as well as an accountant to assist you in outlining your anticipated expenses and finance requirements.)

How To Get Started If I Want To Buy A Franchise:

Your first step is to complete our Self Test Evaluation Form. This will help you evaluate your strengths and weaknesses as well as help to serve in the development of your personal franchise model which will be done by focusing on your interests, finances, capabilities, as well as other characteristics so as to determine if a franchise investment is the right choice for you. If this is the case, we have an extensive database of select franchise companies that meet our specific criteria as well as a successful network of franchise brokers across North America that serve to help us in finding just the right fit for your specific profile.

The Pro's And Con's Of Franchises Vs. Startup And Existing Businesses:

Startup Business:

Pro's - If you already possess the in-depth knowledge and know-how of running your own type of business, you then may be able to successfully generate a profitable stream of income.

Con's - Statistics overwhelmingly show that without previous experience, and a strong brand name, most independent businesses don't make it. Trial and error for the inexperienced can prove costly and potentially self-defeating.

Existing Business:

Pro's - This can be successful if the previous owner will stay long enough to train you in all aspects of the business and more so, if he/she has a "vested" interest in making sure you succeed if only to protect his own investment.

Con's - In your search, we caution not to take anything here at face value. You will need to be diligent in checking and verifying the data (financial statements, tax returns, etc.) that is supplied to you. There are many reasons given for the sale of a business - illness, retirement, change of interest. However, some of the other reasons are - under capitalization, poor management, ineffective marketing (if any at all), lack of experience, and the list goes on. Be sure you are not walking into one of these scenarios only to repeat itself.

Franchise Investment:

Pro's - Due to the unique format franchising offers, with a complete step-by-step plan for managing and operating the business, this virtually eliminates the "trial and error" that one will undoubtedly experience in a startup business, thereby increasing the chances for success. Due to the requirements of a UFOC, you also have the advantage of knowing all your startup costs before you enter into a business arrangement. Other advantages include "Being In Business For Yourself, But Not By Yourself." What this means is though you truly own and operate your own business, the franchise network is there to provide support and assistance through shared systems and experience as well as professional marketing services, name recognition, and key buying power.

Con's - Though statistics show this system to experience a much higher rate of success - no system is a guarantee. The success of this concept depends greatly on the francisees' adherence to the francise's proven business plan. If you are a person that would prefer to chart the course of your business alone, a franchise may not be the right choice for you.