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Casual Articles - The Uniform Franchise Offering Circular - What Every Franchisee Needs to Know
Buying a Franchise offers many benefits over starting a business on your own. The franchisees benefit from the training and ongoing support that they receive whilst trying to make their business successful. People starting a business on their own often have no help or guidance in the day to day running of the business!The franchisees receive guidance on location, fixtures and fittings, marketing and operation of the business model. This guidance is based on years of experience the franchiser has gained not only from running the business model but also from advising other franchisees.Buying a franchise business is at least a five year commitment and as such should not be taken lightly. It is important to make the right lifestyle choice rather than basing the decision to buy p
Looking for work is a roller-coaster ride: high with elation when you think you've found a great position, low with discouragement when you realize that someone else was offered a job you wanted.Most of the time, you fall somewhere in between, your mood cycling from cautious optimism to keen disappointment. You try to conceal the inner turmoil, turning a brave face to the world, trying to convince everyone that you are "just fine."For the sake of your health and your sanity, try these approaches:1. Identify someone who is willing to be a sounding board for you: your significant other, a fellow job seeker, a career counselor, a good friend. Explain that you need someone to help you express the feelings inside and gain a better understanding of what is happening to you
What? You’re probably asking.
Just when you thought you had done all the heavy reading the law should allow, you’re faced with still more. Unlike your own research, however, this document the law actually requires. What exactly is a Uniform Offering Circular Agreement, or, as it is more commonly called, a UFOC? As you will come to see, it is not only an extremely important document for any franchisee, but it is also a vital layer of business protection that makes franchising one of the lowest-risk entrepreneurial ventures.
Entrepreneur.com defines a UFOC as “[a] regulatory document describing a franchise opportunity that prospective franchisees have to receive before they pay any money, sign any papers or, in some cases, even meet with the franchisor.” The document gives background franchise business information in over 20 categories regarding the selected franchise opportunity and provides a copy of the franchise agreement.
Although hardly a household word, the UFOC has been in existence for well over 25 years but traces its impetus back even further. During the 1960s and1970s, the franchise industry found itself beset with certain unethical behaviors that were adversely affecting those involved in the industry. In 1975, the Midwest Securities Commissioners Association presented the first UFOC. Accord
Last week I spoke to the Greater St. Louis Dental Society. My session was filled with primarily hygienists, receptionists and chair-side assistants.We explored something I call The OING Model.Oing represents four types of encounters between employees and patients, each of which is an opportunity to inject (no pun intended) a little more of your personality into each encounter.About 160 people filled out index cards with potential lines, expressions and greetings that were a bit more creative, fun, unique and of course, approachable. Many of these suggestions are listed below, along with a brief description of each category. (Remember: not all of these are gold. It’s an exercise in creativity that brainstorms ideas to make your patients feel more comfortable
What? You’re probably asking.
Just when you thought you had done all the heavy reading the law should allow, you’re faced with still more. Unlike your own research, however, this document the law actually requires. What exactly is a Uniform Offering Circular Agreement, or, as it is more commonly called, a UFOC? As you will come to see, it is not only an extremely important document for any franchisee, but it is also a vital layer of business protection that makes franchising one of the lowest-risk entrepreneurial ventures.
Entrepreneur.com defines a UFOC as “[a] regulatory document describing a franchise opportunity that prospective franchisees have to receive before they pay any money, sign any papers or, in some cases, even meet with the franchisor.” The document gives background franchise business information in over 20 categories regarding the selected franchise opportunity and provides a copy of the franchise agreement.
Although hardly a household word, the UFOC has been in existence for well over 25 years but traces its impetus back even further. During the 1960s and1970s, the franchise industry found itself beset with certain unethical behaviors that were adversely affecting those involved in the industry. In 1975, the Midwest Securities Commissioners Association presented the first UFOC. Accor
If you're a business owner, there are many reasons to hire a freelance writer: One very significant reason is that your staff doesn't have the necessary skill set to handle all of the needs of your business, and the workload isn't heavy enough to hire a full-time employee. The fact of the matter is, that freelance writers are used by businesses of all sizes for everything from improving web content to drawing up contracts.How Can A Freelance Writer Help Your Business?Typically a business will hire a freelance writer when it comes time to write all the marketing material and internal company material that no one paid any attention to when the business was starting out. Other Businesses use them to create, modify and revitalize their written material. This can include manual
Entrepreneur.com defines a UFOC as “[a] regulatory document describing a franchise opportunity that prospective franchisees have to receive before they pay any money, sign any papers or, in some cases, even meet with the franchisor.” The document gives background franchise business information in over 20 categories regarding the selected franchise opportunity and provides a copy of the franchise agreement.
Although hardly a household word, the UFOC has been in existence for well over 25 years but traces its impetus back even further. During the 1960s and1970s, the franchise industry found itself beset with certain unethical behaviors that were adversely affecting those involved in the industry. In 1975, the Midwest Securities Commissioners Association presented the first UFOC. Accor
What do I mean by lifelong learning attributes for career advancement? How will these benefit you as a career newbie seeking career success and advancement? What does it mean by lifelong learning?As someone new to the working world, I am sure a lot of you are eager to advance quickly through the corporate ranks. You want to gain that promotion as fast as possible. But gaining that advancement is not one big step. It is made up of many small steps. In these small steps you should carry with you lifelong learning attributes. It is these lifelong learning attributes that will make you gain the skills and knowledge required for further growth.And you will discover that growth is not just from a professional point of view but also as a person. So what is lifelong learning? Quite
Although hardly a household word, the UFOC has been in existence for well over 25 years but traces its impetus back even further. During the 1960s and1970s, the franchise industry found itself beset with certain unethical behaviors that were adversely affecting those involved in the industry. In 1975, the Midwest Securities Commissioners Association presented the first UFOC. Accor
There is a new concept in branding: online branding. If you want to know exactly what that means, you only have to take the traditional definitions of branding and adapt them to the Web. Then you’ll get a simple definition: online branding makes your visitors believe that you are the only answer to their problems.Every business has a brand; so don’t go around saying “I don’t need a brand”. You have a business, the business has a name, and you’ve created a website, so… welcome: you are in the world of the online brands. It’s nice here: brands evolve, brands decline… it’s a tough world, but if you can manage to create a powerful trademark you are in for a great treat.Why Is Online Branding Important?An online brand is the experience a consumer has with you and your prod
Specifically, the UFOC discloses franchise information in 23 different categories. This information must be current based on the franchisor’s most recent fiscal year, and if any changes have occurred since that time, the franchisor must make the information regarding these changes available to the potential franchisee in the form of a quarterly revision.
The 23 categories of the UFOC are as follows:
1. The Franchisor, Its Predecessors and Affiliates 2. Business Experience
3. Litigation
4. Bankruptcy
5. Initial Franchise Fee
6. Other Fees
7. Initial Investment
8. Restrictions on Sources of Products and Services
9. Franchisee’s Obligations
10. Financing
11. Franchisor’s Obligations
12. Territory
13. Trademarks
14. Patents, Copyrights, and Proprieta
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