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Casual Articles - Seven Secrets to Buying a Franchise
Entrepreneurs know their business. They know their product, their service. Many of them write creative Web sites. But, one thing they are not as adept at is promotional copy.It's not the book, it's the hook! It's not the beautiful Web site, it's the one with benefit-driven headlines that lead your visitor straight to your sales message. What you say outside the book covers matters. What you say about your service on your s
What management, technical, and ongoing assistance does the franchisor offer?
What controls does the franchisor impose?
5. Get Substantiation for Any Earnings Representations Some franchisors may tell you how much you can earn if you invest in their franchise system or how current franchisees in their system are performing. Be careful. The FTC requires that franchisors who make such claims
If you own a small or medium sized business and you believe that by joining an industry association they will some how help you, then you might be rather upset in the future to learn that your association acts more like a bureaucracy than an actual business operation. Some say that organizations and associations act like bureaucracies in order to deal with the government bureaucracies better. This might be so but;Anyone who
But be cautious before you sign on the dotted line.
1. Know How Much You Can Invest - A franchisor may tell you how much you can afford to invest or that you can't afford to pass up this opportunity. Before beginning to explore investment options, consider the amount you feel comfortable investing and the maximum amount you can afford.
2. Know What Type of Business is Right for You - A franchisor may attempt to convince you that an opportunity is perfect for you. Only you can make that determination. Consider the industry that interests you before selecting a specific franchise system. Ask yourself the following questions: Have I considered working in that industry before? Can I see myself engaged in that line of work for the next twenty years?
3. Realistically Evaluate Your Own Background and Skills - If the industry does not appeal to you or you are not suited to work in that industry, do not allow a franchisor to convince you otherwise. Spend your time focusing on those industries that offer a more realistic opportunity.
4. Take the Time to Comparison Shop Talk to or visit several franchisors engaged in the type of industry that appeals to you. Get answers to the following questions:
How long has the franchisor been in business?
How many franchised outlets currently exist?
Where are they located?
How much is the initial franchise fee and any additional
start-up costs?
Are there any continuing royalty payments?
How much?
What management, technical, and ongoing assistance does the franchisor offer?
What controls does the franchisor impose?
5. Get Substantiation for Any Earnings Representations Some franchisors may tell you how much you can earn if you invest in their franchise system or how current franchisees in their system are performing. Be careful. The FTC requires that franchisors who make such claims
A letterhead is a part of a very effective business package. You see the letterhead has a great influence on your image, specifically on how your company is viewed by your potential customers. It is your initial move to introduce your company to your prospects. For this reason, it is essential to design the letterhead with the right image of your company. It is the letterhead that conveys to your customers who you are and what pro
2. Know What Type of Business is Right for You - A franchisor may attempt to convince you that an opportunity is perfect for you. Only you can make that determination. Consider the industry that interests you before selecting a specific franchise system. Ask yourself the following questions: Have I considered working in that industry before? Can I see myself engaged in that line of work for the next twenty years?
3. Realistically Evaluate Your Own Background and Skills - If the industry does not appeal to you or you are not suited to work in that industry, do not allow a franchisor to convince you otherwise. Spend your time focusing on those industries that offer a more realistic opportunity.
4. Take the Time to Comparison Shop Talk to or visit several franchisors engaged in the type of industry that appeals to you. Get answers to the following questions:
How long has the franchisor been in business?
How many franchised outlets currently exist?
Where are they located?
How much is the initial franchise fee and any additional
start-up costs?
Are there any continuing royalty payments?
How much?
What management, technical, and ongoing assistance does the franchisor offer?
What controls does the franchisor impose?
5. Get Substantiation for Any Earnings Representations Some franchisors may tell you how much you can earn if you invest in their franchise system or how current franchisees in their system are performing. Be careful. The FTC requires that franchisors who make such claims
Use these simple and effective tips to boost your prospecting performance.1. Always use a conversational tone...don't come from a script. People hate to hear scripted sales pitches. Ditch the script and come from your heart. Even if you find yourself saying the same things over and over to different people, say it as if you are talking with them, not at them. Once you get a groove going, this gets easier. Your confide
3. Realistically Evaluate Your Own Background and Skills - If the industry does not appeal to you or you are not suited to work in that industry, do not allow a franchisor to convince you otherwise. Spend your time focusing on those industries that offer a more realistic opportunity.
4. Take the Time to Comparison Shop Talk to or visit several franchisors engaged in the type of industry that appeals to you. Get answers to the following questions:
How long has the franchisor been in business?
How many franchised outlets currently exist?
Where are they located?
How much is the initial franchise fee and any additional
start-up costs?
Are there any continuing royalty payments?
How much?
What management, technical, and ongoing assistance does the franchisor offer?
What controls does the franchisor impose?
5. Get Substantiation for Any Earnings Representations Some franchisors may tell you how much you can earn if you invest in their franchise system or how current franchisees in their system are performing. Be careful. The FTC requires that franchisors who make such claims
Any Austin sales consultant will tell you that you only get one shot to sell to an executive level decision maker. Furthermore, any Austin business coach you talk to will also tell you that lack of knowledge, preparation, or trying to sell something the executive cannot use or benefit from will ruin that precious one shot.Listen. Dont waste your time or busy executives by taking blind stabs. It will make you look bad a
How long has the franchisor been in business?
How many franchised outlets currently exist?
Where are they located?
How much is the initial franchise fee and any additional
start-up costs?
Are there any continuing royalty payments?
How much?
What management, technical, and ongoing assistance does the franchisor offer?
What controls does the franchisor impose?
5. Get Substantiation for Any Earnings Representations Some franchisors may tell you how much you can earn if you invest in their franchise system or how current franchisees in their system are performing. Be careful. The FTC requires that franchisors who make such claims
Generally retail purchasing agents and departments are fully ordered by this time every year as they ramp up for Christmas Season. In fact the merchandise is also getting well on its way to the warehouses and by mid October the stores are taking in the inventory and getting everything in place. This year we see some different trends, sure we see the stores loaded up for Halloween, but we see delayed shipments, lack luster purchasi
What management, technical, and ongoing assistance does the franchisor offer?
What controls does the franchisor impose?
5. Get Substantiation for Any Earnings Representations Some franchisors may tell you how much you can earn if you invest in their franchise system or how current franchisees in their system are performing. Be careful. The FTC requires that franchisors who make such claims provide you with written substantiation. Make sure you ask for and obtain written substantiation for any income projections, or income or profit claims. If the franchisor does not have the required substantiation, or refuses to provide it to you, consider its claims to be suspect.
6. Avoid High Pressure Sales Tactics You may be told that the franchisor's offering is limited, that there is only one territory left, or that this is a one-time reduced franchise sales price. Do not feel pressured to make any commitment. Legitimate franchisors expect you to comparison shop and to investigate their offering. A good deal today should be available tomorrow.
7. Study the Franchisor's Offering Do not sign any contract or make any payment until you have the opportunity to investigate the franchisor's offering thoroughly. The FTC's Franchise Rule requires the franchisor to provide you with a disclosure document containing important information about the franchise system. Study the disclosure document. Take time to speak with current and former franchisees about their experiences. Because investing in a franchise can entail a significant investment, you should have an attorney review the disclosure document and franchise contract and have an accountant review the company's financial disclosures.
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