Frequently we hear people say they want to "save money" in their selection process by doing it themselves, or using a friend or family member instead of using qualified counselors. Failure to obtain experienced counsel, your own "success team", can be "penny wise and pound foolish." Cutting corners in your franchise selection process is not a very good idea.
Given the level of your potential investment, including site acquisition, build-out, fees and commissions, make allowance for a reasonable budget for expert advice. Typically, a budget of 2-5% of your total investment is sufficient to afford a competent "success team" to steer you through the selection process. The AAFD can help lower your costs with special member discounts and pricing from many fine professionals.
Building your success team won't guarantee your success, but our experience shows it will save you from the "penny wise, pound foolish" trap.
Your Success Team:
- You, as an educated buyer of the franchise, are the most important part of the "team."
- An experienced franchise attorney who understands franchise agreements and can review your offering circular and assist you in the establishment of your business.
- An experienced financial consultant or accountant who understands franchise business and can review your offering circular with a view to projecting the profit potential and risk of your opportunities, and can assist you in setting up proper financial control systems.
- The AAFD for referrals to these and other experienced professionals, through our exclusive Franchisee LegaLine℠, FinanciaLine℠ and experienced consultants. These services are tailored to prospective and current franchisees. All AAFD affiliated service providers offer substantial discounts to our members.
The AAFD is your ally, always seeking to provide those services which will assist you in being successful.