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Franchise ownership can be an exciting opportunity for people with a variety of skills, backgrounds, and experiences. By understanding the …
Find the right fit.
There are thousands of franchise opportunities available for aspiring business owners, but it can be challenging to find the right one. Many factors weigh into the decision, and considerations, including the cost of ownership, the preferences of a local market, and the resources that a potential owner can use for startup, can easily overwhelm the savviest business professionals.
Where should you start? Our guide to finding opportunities that suit your skills, interests, goals, and budget will point you in the right direction.
Examine the costs.
What does it cost to run a franchise unit? It’s the sum of the initial franchise fee, royalty payments, advertising fees, real estate costs, signage costs, equipment costs, inventory expenses, and working capital needs.
We can help you breakdown these costs—and learn how to cover
them— in our ultra-handy guide.
Proceed with confidence.
There is risk to buying into someone else’s system. How you can ensure you’re making a smart investment? The short answer is due diligence.
You’ll spend time examining the opportunity, working through the franchisor’s financials, and determining whether the option you’re considering can survive in your local market. This process starts with reviewing the franchise disclosure document (FDD), a 50-plus page resource that requires legal and financial expertise to fully comprehend. Our guide to the FDD will give you a solid foundation.