10 Steps to “Buying the right Franchise for you.”
Franchising is a safe but exciting way to start your own business, with the support of the Franchisor you will never be alone on the business journey which can sometimes be scary but you do need to make sure you pick right one for you. If you want to be your own boss, make sure you’re finding the best franchise for you, which may be different than what you thought given the market conditions. I will be sharing with you my expertise on becoming owner of your own franchise business, living a harmonious and empowered life and a successful business.
Step 5 – Due Diligence
So, you have made your decision on the Franchise you want to be running, you have had initial contact now is time to take this enquiry to the next level. At this point, the franchisor should ask you to sign a Non-Disclosure Agreement (NDA). Once you have signed the agreement the Franchisor will send you the next stage pack which should contains extensive information about the franchise, including the history of the Directors, any litigation the company has experienced, the names and contact information for the current franchisees, a template of the Financial Projection and a template of a Business Plan.