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Finding The Right Information About Franchise Opportunities

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Finding The Right Information About Franchise Opportunities Powered By Docstoc
					?It may take some labor to find the right franchise business so don't throw in the towel.
There are a number of sources for the information you will need before selecting the
right franchise. It may take some effort to find the right franchise so, don't
compromise.
There are a number of sources for the information you will need before selecting the
right franchise
opportunity. Some web sites allow you to read more detailed information on a brand
and give you an idea of price and royalty structure, etc…

Once you have decided which industry interests you most, and seems to have growth
potential in your area, contact all the franchise companies in that field and ask them
for information. You will most likely need to give them some upfront information in
order for the company to take you seriously and send you information. The size of the
franchise should not restrict the availability of information you need regarding the
company's history and profile, market conditions, the franchisees role and the costs
involved.




Franchise information that is pertinent to your investigation is disclosed in the
Uniform Franchise Offering Circular (UFOC). The UFOC serves as a protection for
the individual against making a decision based on information not supported by facts.
The UFOC contains information regarding how the business is ran, any litigation or
bankruptcy filings, investment costs and fee requirements, the franchise rules and
restrictions, and contact information for each of their franchise units.




Franchisors are obligated by the Federal Trade Commission to fully disclose all
material information about themselves according to federal law called the Franchise
Rule. Some details might not be available until you sign on the dotted line, but they
shouldn't intentionally withhold information. Most franchisors will not make earnings
claims but they will provide information with which you may extrapolate gross sales.




The UFOC is not the only place to find this information, and you certainly shouldn't
rely on it alone. You may also contact local chambers of commerce or business
development organizations and see if they might supply information pertinent to your
research.




Read all the information you receive thoroughly noting any first impressions and any
initial questions you may have. Organize an appointment with each franchisor and
when you meet them, get as much information as you can to make an informed
decision. 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.




Existing franchisees are your best source of information for finding out what really
happens in a business on a day-to-day basis. Your attorney should look at the
franchise agreement before you sign it and your CPA should review a copy of the
franchisor's income statement and balance sheet, as well as any other pertinent
financial information found in the UFOC.




Although it might seem a little hasty, knowing how you want it all to end someday is
a necessary part of selecting the right franchise for you. The key to finding the right
franchise is self-knowledge. Because choosing the right franchise is the key to your
success, choosing which franchise to purchase is as personal as choosing a home.




About the Author

Fred Brown is a franchise executive with over 20 years of experience in the franchise
industry. He now writes for , an online directory of franchise business opportunities
for sale. The website includes a franchise blog providing valuable insight and
information, including a mix of news, articles and commentaries about franchising
and franchise opportunities.

Fred Brown is a franchise executive with over 20 years of experience in the franchise
industry. He now writes for , an online directory of franchise business opportunities
for sale. The website includes a franchise blog providing valuable insight and
information, including a mix of news, articles and commentaries about franchising
and franchise opportunities.

				
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