About the Franchise ProcessLast year, 43% of all retail goods and services were sold through franchised outlets. You are in business for yourself, but never by yourself.
Our consultation services cost you nothing as we are retained by the franchise companies to present candidates who possess the necessary qualifications to be successful. The first step is to fill out an information form. Once that has been submitted, one of our franchise consultants will contact you to verify your information. During this initial conversation with our Consultant, the Franchise Categories that interest you the most will be discussed.
During this stage, we gather the necessary information to determine what your capabilities are and which business models will be a good match for you. Our first objective is to understand who you are (e.g. what are your past skills, what type of lifestyle you desire, and your overall goals). 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 that are highly qualified and will thrive in the operation of their business model. Your success is their success!
We will introduce you to the respective Franchises. You will gain valuable knowledge on each of these great business models. Expect to hear about some exciting name brand franchises in the categories you expressed interest in. Keep an open mind, evaluate all the business models, compare and contrast them, and be careful not to discount a business until you have all the information. Often the first glance at a business does not paint the whole picture. Learning the numbers and examining the operation of a business is likely to reveal some impressive potential that you may at first overlook.
Review of Franchise Disclosure Documents (FDD)
Once you have received an FDD from a franchisor, you will need to thoroughly examine the contents and seek answers to any questions you may have. The franchisor will readily assist you in finding the answers to any questions. The FDD will also contain a list of franchisees and contact information. It is highly recommended that you speak with the franchisees in order to gain an understanding of what it’s like to operate a franchise unit in their system.
It is essential to ask the right questions of the existing and past franchisees. We will supply you a list of questions to assist in this process. This is a great opportunity to learn valuable information from those with the experience. This is your opportunity to validate the franchise opportunity and get an idea about the profitability of the franchises.
Consultation with Attorney and Accountant
We cannot overemphasize the necessity of consulting with a competent attorney and/or accountant before purchasing any business. It is very important that both professionals have a background in franchising, to ensure that you are covered in every way to benefit your position. If you don’t already have these professionals in place, we can make recommendations.
Attend a Discovery Day
Most franchisors have a Discovery Day where they invite prospective franchise partners to visit a specific franchise location and see how the franchise is run. You will not only get crucial information to assist in making your decision, but will get to meet the staff that will be supporting you in the operation of your franchise business.
Once you have gone through all the previous steps, it is time for you to make a decision. Should you choose to own a franchise, you can be confident that you have taken the necessary steps towards controlling your own life, by owning your own business!
This website, and the information contained herein do not constitute the offer or sale of a franchise. There are certain states that require the registration of the companies’ Franchise Disclosure Document (FDD) before the franchisor can advertise or offer the franchise in that state. The franchises listed on our website may not be registered in all registration states and may not offer franchises to residents of those states or to persons wishing to locate a franchise in those states. The offer and sale of a franchise can only be made through the delivery and receipt of a Franchise Disclosure Document (FDD.)
The Franchise Profit is not an agent, employee, representative, or other functionary of the seller of the respective franchises introduced to you.
The Franchise Profit is an Independent Contractor, engaged in the activity of introducing prospective business buyers to sellers of franchises.
The Franchise Profit is paid a finder’s fee or commission by the seller if you elect to purchase a business from a company that was introduced to you by us.
The Franchise Profit has not checked the accuracy of the written or web site information provided by the seller, and assumes no responsibility for the acts, errors, or omissions of the seller, or the outcome of any transaction.
The Franchise Profit is not qualified to advise in any part of the purchase of a franchise. You are urged to seek professional advice from qualified franchise attorney, accountant, or other qualified resource.
Many Franchisors disclose various earnings claims in their disclosure documents. The Franchise Profit does not enter into discussions of earnings claims. Any earning claims information shall come directly from the franchise representatives.
Buying a franchise is a complicated investment. Take your time to decide, and personally visit the headquarters of the company you elect to buy from. Make good, common sense decisions in all investment matters.
The Federal Trade Commission regulates the sale of franchises. The FTC has a very user friendly web site, www.FTC.gov. We suggest you use it.
Your state may also have laws regarding franchises. Ask your state consumer affairs agencies about them.
The Better Business Bureau is another excellent information source for potential franchise buyers. www.BBB.org will put you in instant touch with both local and national offices.
You alone are responsible for researching the franchise you purchase.
Englewood, New Jersey
The Franchise Profit is a franchise consulting company dedicated to advising and guiding clients in finding the right franchise to meet both their personal and professional objectives.
Our Services are performed at NO COST to you. We function solely as Executive Recruiters for the franchise industry.