| S T E P - B Y
- S T E P P R O C E S S
Step
1 - Contact Us
There
is no time like the present to see what options you have. Your contact
information is kept confidential and is reviewed by our staff to provide
you the best opportunities for your particular needs.
Step
2 - First Appointment
One
of our consultants will contact you to setup an appointment to discuss
your goals in finding the right franchise for you. This will
take about an hour and can be accomplished over the phone. Understanding
your particular goals and needs will allow us to find the best opportunity
for you. We will set a follow up an appointment to present you with
opportunities that fit your requirements.
Step
3 – Research
We
take the information provided by you, research available franchises and
match them with your stated goals and needs.
There
are over 1500 franchises and our goal is to identify the best 3-4 franchises
that match your requirements.
Step
4 – Presentation
We
present you with the opportunities that we have identified in our research.
This meeting should accomplish two goals. First, if any of
the opportunities are of interest to you, then we will arrange an introduction
directly to the representative of the franchise. This will require
that you complete and submit a confidential questionnaire to be supplied
to the Franchisor. The Franchisor wants to know that you are financially
qualified to purchase their franchise, that your timeframe to buy is within
reasonable limits, and that your partners or family are in complete agreement
with you buying a business. This does not obligate you in any way.
It simply shows the Franchisor that when you find the right opportunity
then you are capable of buying it.
Second,
this step will allow us to clarify your goals and needs identified in Step
2, sending us back through Steps 3 & 4. This may take place
several times throughout the process.
It
is important to remember that the Franchise Consultant is presenting you
opportunities, but you must make the decision that is best for you and
your family. Therefore, refining the criteria for the best opportunity
for you is an ongoing process.
Step
5 - Introduction to Franchisor
For
each of the opportunities that you have an interest, we will introduce
you to the Franchisor. The Franchisor will send materials to help
you become acquainted with their franchise. They will also send the
Uniform Franchise Offering Circular (UFOC), which is a disclosure document
for their franchise opportunity. The UFOC receipt should be signed
and returned immediately.
Step
6 - Review of the UFOC
We
will discuss the items that are contained in an UFOC; in particular items
that you should pay close attention. You should then review the UFOC
in complete detail writing down any questions or concerns for discussion
with the Franchisor. The UFOC will contain a list of franchisees
and contact information.
Step
7 - Call Franchisees
The
Franchisor should provide you a list of several franchisees for you to
call to ask questions about the franchise. Obviously, the Franchisor
is going to give you a list of franchisees that are successful and have
positive things to say about the franchise. The reason for calling
these references is that you want to ask them why and how they became successful.
Then you need to determine if you can be do the same things that they did
to be successful.
Step
8 - Consultation with Attorney and Accountant
You
should always consult with an attorney and an accountant before making
a decision. It is important to insure that both people have a good
background in franchising. If they don't, then the process may cost
you more that you needed to pay while they do their research.
Step
9 - Attend a Discovery Day
Most
franchisors have a Discovery Day, where they will invite you to their location.
You will not only get crucial information for your decision, but will get
to meet the staff that will be providing your initial training and continuing
support.
Step
10 - Decision Time
You
have taken all of the steps up to the door, and now you must open it.
Decision time. Congratulations you have decided to buy a franchise.
You have become a “Frantrepreneur”, a cross between a traditional entrepreneur
and a modern franchise owner. A person that possesses the desire
to be a business owner, but does not want to recreate the wheel
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