10
Steps to Business Ownership
Step
1. Contact-
There is no time like the present to explore the options. Your contact
information is kept confidential and is reviewed by our staff to
provide you the best opportunities for your particular needs.
Click here to complete our Getting Started
form.
Step
2. Consultation-
One of our consultants will contact you to setup an appointment
to discuss your goals in finding the right franchise for you. This
will take about 30 minutes and can be accomplished over the phone.
Understanding your particular goals and needs will allow us to find
the best opportunity for you. We will set a follow up an appointment
to present you with opportunities that fit your requirements. During
this interview, we will ask a series of questions such as:
- What are
your reasons for wanting a business of your own?
- Have you
ever owned a business?
- What hours
do you like to work?
- Where do
you want your business located?
- How do you
feel about managing people?
- How much
capital do you have to start a business?
- Will you
have partners?
- Do you want
to build multiple units?
- How soon
do you want your business to open?
- Will you
be involved on a full-time or part-time basis?
Step
3. Research-
Using the information from the first appointment, we will search
out franchises that match your requirements. We will thoroughly
analyze the market for available franchises, dealerships, distributorships,
and licensing opportunities, presenting only those that are a good
match for you.
Step
4. Recommendations-
We present you with the opportunities identified in our research.
You will receive additional information on each one to enable you
to research them in more detail. Your feedback is critical to
ensure success in identifying the best fit. We will work together
to refine the criteria until we find the best match.
Step
5. Introduction to Franchisor-
For each opportunity of interest, we will introduce you to the Franchisor.
We will set up a conference call to allow you to learn more about
their concept. The franchiser will provide a Uniform Franchise Offering
Circular (UFOC), which is a disclosure document for their franchise
opportunity. The UFOC receipt should be signed and returned immediately.
Step
6. Review of UFOC-
We will discuss the UFOC together and note any questions. The UFOC
will contain a list of franchisees and contact information.
Step
7. Call Franchisees-
The purpose of this step is to contact franchisees and ask them
why and how they became successful in the business. From this information,
you will need to determine if you can do the same things they did
to be successful. If needed, we can assist you with ideas for questions
to ask.
Step
8. Consultation with Attorney and Accountant-
You should always consult with an attorney and an accountant before
making a decision. It is important to ensure that both have a good
background in franchising. If needed, we may be able to assist you
to identify resources in your area.
Step
9. Attend a Discovery Day-
Most franchisors conduct a Discovery Day where they invite you to
visit their corporate headquarters. This activity will allow you
to meet the people who will be supporting you in the business and
clarify any remaining concerns necessary to make your decision.
Step
10. Decision Time-
We have done all we can to assist you in identifying opportunities
that match your criteria. Now it is up to you to take that final
step and go forward with your new business. Congratulations! You
are now a “frantrepreneur”, a blend of traditional entrepreneur
and a modern franchise owner.
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