11 mistakes You Should Avoid Investigating a Franchise

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Bin There Dump That's Franchise Team looks at 11 mistakes made by in the franchise investigation process. From financial options, to investigating methods, you may be skipping on a wonderful franchise opportunity or investing in a poor franchise opportunity

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11 mistakes You Should Avoid Investigating a Franchise

  1. 1. 11   MISTAKES  YOU  SHOULD  AVOID   INVESTIGATING  A  FRANCHISE  
  2. 2. 1. They  Assume  That  the  Franchisor  Is  Trying  To  SELL Them  A   Franchise:  
  3. 3. BUT   Good Franchise Companies   Make  Candidates  Qualify  To   Own  Their  Franchise    
  4. 4. 2. They  ASSUME  That  All  Franchise   OpportuniJes  Are  Valid,  Profitable   &  "Approved"  By  Somebody:  
  5. 5. BUT   This  AssumpJon  Isn’t  True.  The   marketplace  makes  these   decisions.     YOU ALWAYS HAVE TO DO YOUR HOMEWORK!  
  6. 6. 3. They  Don't  Keep  Their   IniJal  Dreams  Burning Brightly      
  7. 7. THEY  NEED  TO   Keep Investigating! If  there  is  a  roadblock  you  can’t   get  around,  seek  advice  from  the   Franchisor  
  8. 8. 4. They  CONFUSE  "GeVng  InformaJon"  With   "Making  A  Commitment"    
  9. 9. BUT   Good Franchisors Will   Encourage  The  Exchange of Information  To  See  If  There’s   A  Match  
  10. 10. 5. All  Their  INVESTIGATION  Is  Done   Behind  Their  Computers  
  11. 11. BUT   Personal Communication   Cannot  Be  Replaced  
  12. 12. 6. They  Don't  INVESTIGATE  PotenJal   Problems  Thoroughly  
  13. 13. THEY  NEED  TO…     Evaluate!  Talk  to  ExisJng   Franchisees  And  Take  Notes!  
  14. 14. 7. They  Don't  VISIT THE HOME OFFICE When   Opportunity  Is  Available  To  Them  
  15. 15. THEY  NEED  TO   Take Full Advantage  of  The   Franchise  Company’s  Discovery   Day  
  16. 16. 8. They  RUSH  Into  a  Decision  or  DAWDLE   To  Go  Ahead  With  the  Purchase  
  17. 17. THEY  NEED  TO   Keep a Steady Pace  to  Your   InvesJgaJon  While  Keeping   Contact  With  Franchisor    
  18. 18. 9. They  Don’t  ASK QUESTIONS  About   Themselves  
  19. 19. THEY  NEED  TO   Ask Questions Like:   What  Am  I  Looking  For  in  a   Business?   Can  I  Build  Equity  With  This   Franchise?  
  20. 20. 10. They  DON’T CHECK OUT Financing   Sources  
  21. 21. THEY  SHOULD…   Talk  with  your  franchise   consultant.     Consider ALL possible sources of financing
  22. 22. 12. INSTEAD   Do  Not  Quit  and  Do  Not  Get  SNIOP’D (SuscepJble  to  the  NegaJve  Influence   of  Other  People)  

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