Steps to Ownership
Steps to Own a Franchise – Franchises For Sale
In many respects, buying a franchise is easier than buying any other type of business. This is because the franchise is required to provide you with financial and operating disclosures that other types of businesses are not required to provide. In addition, you will receive a franchise operating manual which is a step-by-step approach to achieving success without having to guess what to do next.
Our 10 Steps to Own a Franchise
- Decide You’re Ready for New Opportunity
- Find a Franchise Concept that Fits Your Personal and Financial Goals
- Submit Request for Consideration/Application
- Review the Franchise Documents (FDD)
- Review Training, Support and Development Plan
- Speak with Company Staff, Perform Due-Diligence
- Arrange Funding (if and as needed)
- Discovery Day and Introductions
- Execute Agreement
- Arrange for Training and Launch Date
Locate a franchise opportunity
We have access to a large number ofqualityfranchise opportunitiesand our consultants can help locate those that meet your specific goals, objectives and budgets. We also take into considerationwhether you will be actively running the business or if you will be hiring others to manage the franchise business for you.
Submit your franchise application
It is crucial that your franchise application be correct and accurate. When you submit your application, depending upon how the franchisor is set up, your application will move through different departments including finance, territory management, training, marketing and operations support. You will normally be immediately assigned to a territory manager that will act as your liaison with the franchise. In the meantime, be sure to review the Franchise Disclosure Document (FDD). Everything you wanted to know about the franchise, but were afraid to ask is spelled out in the FDD.
Conduct your franchise due diligence
- Review franchise training requirements
- Review available franchise support and marketing programs
- Sign approval paperwork
Congratulations, you are now a franchise owner.Now that you are a franchise owner it is time for you to get to work preparing for your grand opening. Make sure you are properly staffed and prepared for contingencies. This is not the time to cut corners. Give it everything you’ve got and then a little more to make sure you’re franchise is on the path to success. Then, rinse and repeat the process with another franchise and you will be on your way to accumulating wealth. Are you ready to own your own business? Contact us today and have the resources to you need to buy a franchise.
