Once you have made your phone calls and narrowed it down to a few franchises, it is time for Discovery Day (or D-Day). This might be the first face-to-face meeting you have with the franchisors you have chosen. Discovery Day offers the opportunity for you to meet the corporate workers and visit a local franchise.…
Franchising and the FDD – Before you can purchase a franchise, you will receive an approximately two-hundred-page document known as the Franchise Disclosure Document or FDD. It is composed of twenty-three sections called “items.” The Federal Trade Commission mandates that a franchisor must furnish this to their candidates at least fourteen days prior to the sale…
One of the reasons why small businesses fail is due to improper funding and financial management. These are also two reasons why so many franchisees succeed! As a franchisee, you are given a very accurate cost list which details how much capital is needed to start and run the business. It’s in the disclosure and…
Franchisees tell you the truth. You’ll receive a list of all the existing franchisees in the Franchise Disclosure Document you get from the company, so take the time to call at least five to ten of them. Call these franchisees and ask them the tough and detailed questions listed in the “Questions to Ask Existing…
Deborah Jacobs, Forbes Staff: According to an EBRI Retirement Confidence Survey, a record 74% of not-yet-retired folks expect to continue working for pay in “retirement.” That’s their best hope of making up for the recent hit to their savings. If you can’t imagine being in your current line of work until you reach 65 or…