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Narrowing The Choices


Before investing in a franchise opportunity, follow these nine critical steps:

  • Ask yourself: does the franchisor you are considering recognize an Independent Franchisee Association and collectively bargain with its franchisees?
  • Research the prospective franchisor's reputation for fairness and support for its franchise system.
  • Buy a notebook for each franchise you are contacting and always take notes.
  • Make a permanent file for each franchisor you're investigating and keep all the information you gather, in your notebook.  You'll accumulate a lot of information!
  • Contact prospective franchisors to find out what their application procedure is.  Request a Uniform Franchise Offering Circular for each franchise system of interest to you.
  • 6. Do not pay any money before receiving any circular you request. By law the franchisor should not charge any fees until you have reviewed your offering circular for 14 days.
  • Make a record of ALL conversations with each franchisor: include date, time, person talked to, promises, questions and answers.
  • Retain this information for future discussions with your attorney and accountant