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Our services come at no cost to you. The first step of the process will begin with filling out an information sheet. This information will help us to determine if franchising is right for you and what types of businesses may interest you.
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During this stage, we will discuss your goals and aspirations as we investigate into your professional skills and background, personal motivation for business ownership and financial readiness.We will determine your capabilities and which type of business model will best suit you. We will also consider which brands align most closely with your core values, goals, and aspirations. We want to know who you are and why you’re interested in owning a business. We will tailor your brand choices specifically to you, which will allow us to find your best match.
The ultimate goal of any reputable franchise business is not to “sell” a franchise to just anyone willing and able to buy their brand, but to “award” a franchise to candidates who are highly qualified and will thrive in the operation of their business model. Your success is their success! We’re here to present the brands to you, and to present you to the brands as their ideal candidate.
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After our consultation, we will research which franchise brands will work best for you. We will introduce you to the various brands, and you will gain valuable knowledge about each one of them, including their business models. If you have an interest in a specific category or brand, you’ll learn more about it. You will also hear about some categories or brands that you may not have considered. Keep an open mind, and compare each business model to see how they align with your goals and preferences. Don’t be too quick to dismiss a business without learning about the entire operation. There may be potential that you may not realize at first glance.
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When making the decision to pursue franchise ownership, it’s a good idea to get pre-qualified. What does this mean? The pre qualification process is a lot like when you’re shopping for a home. Being pre-qualified lets franchisors know that you have the financial means to join their team. There is no obligation to take the funds, should you decide not to complete the process with a specific franchisor. Our partners can help you with financial solutions to fund your business.
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A Franchise Disclosure Document (FDD) is a legal government document that outlines every aspect of the business. When you get the FDD from a franchisor, you will sign a receipt letting them know that you have received the document. Together, we will review the FDD and address any questions or concerns. We can assist you with seeking legal counsel.
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You will be given a list of the franchisor’s current franchisees. It’s very important to know the right questions to ask to get the valuable information that you will need. We will supply you with a list of questions to assist you with the process. This is your opportunity to evaluate the franchise from within and hear about different people’s experience. You will be better able to validate the opportunity and get an idea of individual franchise profitability.
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It’s very important to consult with an attorney and/or accountant experienced in the franchise industry before making any business purchase. We can provide you with recommendations, should you need them.
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Most franchisors have a Discovery Day. This is an important milestone in your franchising journey. Prospective franchise partners are invited to a particular franchise location to see how the franchise is run up close and in real time. You will get to meet support staff from the franchisor who will be working with you in your operation of the franchise business. You will also get important information to assist you in making your decision. You may also have an opportunity to visit the franchisor’s headquarters, meet the executive team, and potentially secure your franchise territory.
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After you have gone through all the previous steps, it’s decision time! At this point, you will have done all your research and due diligence. Should you choose to pursue franchise ownership, you will know that you are able to make an informed decision and a sound financial investment.