As with any business, the first step in determining whether or not to enter into the venture is to assess your reasons for going into business. If you feel you need a change, or you’re tired of having other people tell you what to do, then you should reassessyour decision before investing your time, money and energy because operating a [...]

The franchise contract, like the UFOC, is a very important document. The contract is probably the most important document in the transaction process. It is a legal commitment which is binding on both the franchisor and franchisee. In the franchise contract, the franchisor’s promises must be presented to the franchisee in writing and subjected to careful scrutiny. During this stage [...]

The success rate for franchise-owned businesses is very high. According to studies conducted by the U.S. Department of Commerce from 1971 to 1987, less than 5 percent of franchised businesses failed or were discontinued in each of those years. However, success is not guaranteed.

An important step in making an informed decision about purchasing a franchise is to know the responsibilities the franchisor is legally obligated to fulfill. One of the toughest decisions any entrepreneur faces is whether or not to purchase a franchise. And while buying a franchise means obtaining a complete system of doing business, there is no guarantee for success. Being [...]

After gathering all the information you will need to make an informed purchase decision, carefully examine this information with your attorney, accountant or business advisor ensuring that it is addressed in the franchise contract. Think carefully about the level of independence you will maintain as a franchisee and how comprehensive the operating controls will be. Be very clear about the [...]

Franchise businesses such as Wendy’s, McDonald’s and Jack-In-The-Box are booming. The people setting up franchise ideas and businesses know a good thing, and are really promoting this idea. Franchises for just about every conceivable kind of business are being sold in ever increasing numbers. Some franchises are very good. They treat both the franchiser and the franchisee very well. Others [...]

How often have you thumbed through a business opportunity magazine, noticed a franchise opportunity advertisement, and felt you’d really like to get in on that… if only you had the money? If you’re like most who are seeking greater opportunity and wealth, this probably happens with you more often than you care to admit, except perhaps in strictly private conversations. [...]