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The Process:
Step 1 - Contact Us
Your contact information is kept confidential and is reviewed to provide
you the best opportunities for your particular needs.
Step 2 - First Appointment
We will contact you to setup an appointment to discuss your goals and
capabilities. This could take about an hour 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 appointment to
present you with opportunities that fit your requirements.
Step 3 – Research
We take the information provided by you, research available franchises, make
sure they have locations where you wish to be, and match them with your stated
goals and needs.
There are over 5000 franchises and our goal is to identify the best 3-4
franchises that match your requirements.
Step 4 – Presentation
We present you with the opportunities that we have identified in our research.
This meeting should accomplish two goals. First, if any of the opportunities are
of interest to you, then we will arrange an introduction directly to the
representative of the franchise. This will require that you complete and submit
a confidential questionnaire to be supplied to the
Franchisor (most will require their own more detailed information). The
Franchisor wants to know that you are financially qualified to purchase their
franchise, that your timeframe to buy is within reasonable limits, and that your
partners or family are in complete agreement with you buying a business. This
does not obligate you in any way. It simply shows the Franchisor that when
you find the right opportunity that you are capable of buying it.
Second, this step will allow us to clarify your goals and needs identified in
Step 2, sending us back through Steps 3 & 4. This may take place several times
throughout the process.
It is important to remember that we are presenting you opportunities, but you
must make the decision that is best for you and your family. Therefore, refining
the criteria for the best opportunity for you may be a repetitive process.
Step 5 - Introduction to Franchisor
For each of the opportunities in which you have an interest, we will introduce
you to the Franchisor. The Franchisor will send materials to help you become
acquainted with their franchise. They will also send the 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 the UFOC
We will discuss the items that are contained in an UFOC; in particular items
that you should pay close attention. 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. Obviously, the Franchisor is going to give
you a list of franchisees that are successful and have positive things to say
about the franchise. The reason for calling these references is that you want to
ask them why and how they became successful. Then you need to determine if you
can be do the same things that they did to be successful. For a checklist of
questions to ask - click
here.
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 people have a good background
in franchising. If they don't, then the process may cost you more that you
needed to pay 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 be providing your initial training and
continuing support.
Step 10 - Decision Time
You have taken all of the steps up to the door, and now you must open it.
Decision time. Congratulations! With our assistance, you can be confident in
your decision to invest in a franchise.
Click here for printed copy of this information
ESL Services
Franchising Overview
List of Available Industries
Q&A - FAQs
Register
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Disclaimer: This information is designed to
provide information only to prospective business and franchise opportunities
buyers. The prospective business buyer is responsible to thoroughly investigate
any franchise or business opportunity listed on this website, obtain all
appropriate disclosure documents, and seek expert consultation prior to making
any investment decision. The representations, views and opinions expressed or
implied in any document or image included in, or linked to or from this website,
do not necessarily state or reflect those of Economic Strategies, Ltd. or any of
its representatives.
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