Steps 5 to 10 of Our Process

To Business Ownership
( Back to Steps 1 to 4 )

Step 5-Introduction to Franchisor:

For each opportunity in which you have an interest, we will facilitate your introduction to the Franchisor. The Franchisor will send materials to help you become acquainted with their franchise opportunity. They will present to you their particular process and send you the Uniform Franchise Offering Circular (UFOC), which is a disclosure document for their franchise opportunity. The UFOC will have a receipt, which you should sign and immediately return to the Franchisor.

Step 6-Review of the UFOC:

We will discuss with you items that are contained in an UFOC; Emphasizing those that you should consider carefully. You should then review the UFOC in complete detail, writing down any questions or concerns for discussion with the Franchisor. The UFOC will contain a list of franchisees and contact information.

Step 7-Call Franchisees:

The Franchisor should provide you a list of several franchisees for you to call to ask questions about the franchise opportunity. Obviously, the Franchisor is going to give you a list of franchisees that are successful and have positive things to say about the franchise. It is important that you contact these references and ask them how they became successful. Then, you need to determine if you can do the same things that they did to be successful.

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 insure that both 'experts' have a good background in franchising. If they do not, then the process may be more costly and time consuming while they do their research.

Step 9-Attend a Discovery Day:

Most franchisors have a Discovery Day, where they will invite you to their location. You will not only get crucial information for your decision, but will get to meet the staff that will provide your initial training and continuing support. Discovery Day is important in making an informed decision.

Step 10-Decision Time:

After your Discovery Day experience, it is time to make your final decision. Do you now become a New Franchise owner or do you continue the process to explore other opportunities. Congratulations!! If you have decided to own your own franchise. You have decided to become a Frantrepreneur - a cross between a traditional entrepreneur and a modern franchise owner. One possessing the desire to be a business owner without having to recreate the wheel. You have chosen to follow a proven system for the benefit of your personal and professional goals.

For Step 1 to 4 of Our Process To Business Ownership: Click Here

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