New Franchise Opportunities
Have something specific in mind? Fill out our franchise questionnaire so we can better assist you:
Your Path to Franchise Ownership
The first step is deciding to work with us as your franchise consultant. Any information you share with us is kept strictly confidential and is only used in order to provide you with the best options.
We interview you and you interview us. We will request that you complete a confidential questionnaire and sign an Engagement Agreement. This helps us determine what kinds of businesses meet your needs and qualifications. We will want to discuss your lifestyle, your business and financial goals, and other details to help us identify a franchise that best meets your unique personal and professional goals.
We will spend a few days doing our research based upon the information provided by you to determine the best franchises or business opportunities for you to further explore. Our goal is to identify at least 3-5 franchises that will be a good potential match for you.
We now 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 franchisor. This will require that you complete and submit a confidential questionnaire to be supplied to the Franchisor. (The candidate application that we used in Step 2 is usually acceptable.) The Franchisor will want 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 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 we identified in Step 2, possibly sending us back through Steps 3 & 4. This iteration may take place several times throughout the process.
It is important to remember that we are presenting opportunities, but it is you that must make the decision that’s best for you and your family. Therefore, refining the search criteria to find the best fit opportunity for you is an ongoing process.
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 business concept. They will also send the Franchise Disclosure Document (FDD), which is a disclosure document for their franchise opportunity. The FDD receipt should be signed and returned immediately.
We will discuss the items that are contained in an FDD; in particular, items that you should pay close attention to. You should then review the FDD in complete detail and write down any questions or concerns for your discussion with the Franchisor.
The FDD will contain a list of their existing franchisees and contact information. You should call some or all of these and ask questions about their experience with 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.
You should always consult with an experienced and knowledgeable lawyer and accountant with good backgrounds in franchising before making a decision to purchase. We can put you in touch with skilled professionals to work with you.
Most franchisors have a Discovery Day, where they will invite you to their location. You will not only get crucial information to support your decision, but you will also get to meet the staff that will be providing your initial training and continuing support. Note: Many of these are currently being held virtually but we hope that these will be in-person again soon.
You have taken all of the steps up to the door, and now you must walk through 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 that wants to hit the ground running and not reinvent the wheel.