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The latest in internet business opportunity and Franchise news
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Things You Need To Know Before Buying A Franchise by Jonathan Street |
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Franchise businesses such as McDonald's, Burger King, and KallKwik Printing, are booming.The people setting up franchise ideas and businesses know a goodthing, and are really promoting this idea.Franchises for just about every conceivable kind of business arebeing sold in ever increasing numbers.Some franchises are very good. They treat both the franchiser andthe franchisee very well.Others are very one-sided.Others are almost total rip-offs, that trap one into paying ten tofifty times the actual value of the business idea, equipment, orwhatever it is they are trying to get you to buy.Before putting any money into a franchise, you should investigateeverything completely.We've prepared a list of questions you should be asking, andshould get satisfactory answers to before investing.1. Has your lawyer studied the franchise contract, discussed itcompletely with you, and do you both approve it withoutreservations?2. Does the franchise require you to take any steps which areeither illegal or even border on illegal, or are otherwisequestionable or unwise in your county or city?3. Does the franchise give you an exclusive territory for thelength of the franchise period, or can the franchiser sell asecond or third franchise in your territory?4. |
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Is this franchiser connected in any way with any otherfranchise company handling similar products or services?5. If you answered yes to the above question, what is yourprotection against the second franchising company?6. Under what circumstances can you end the franchise contract,and at what cost to you?7. If you sell your franchise, will you be compensated for yourgoodwill or will it be lost to you?8. How many years has the firm offering you the franchise been inoperation?9. Does the company offering you this franchise have a reputationfor honesty and fair dealing among its franchisees?10. Has the franchiser shown you any certified figures indicatingexact net profits of one or more of its members, and have youpersonally checked the figures with these people?11. Will the franchiser assist you with:a) A management training programme;b) An employee training programme;c) A public relations and advertising programme;d) Capital;e) Credit;f) Merchandising ideas.12. If needed, will the franchiser assist you in finding asuitable location?13. Is the franchising firm adequately financed so that it cancarry out its stated plans?14. Does the franchiser have experienced management training?15. Exactly what can the franchiser do for you that you cannot dofor yourself?16. Has the franchiser investigated you carefully enough to assureitself that you can successfully operate at a profit to both ofyou.17. Does your area have a law regulating the sale of franchises,and has the franchiser complied with that law to yoursatisfaction?18. How much equity capital will you need to purchase thefranchise and operate it until your income equals your expenses?If you can get the answers to each of these questions, and thoseanswers satisfy you, then you're probably thinking of buying apretty good franchise idea...pageHowever, if you're in doubt about any of these points, be sure tocheck it out and know the answers for certain before you invest orsign anything.Buying a franchise can give you a measure of security, and in somecases, sure fire profits.Business surveys show that fewer than 20 percent of all newfranchised businesses fail.This is in comparison to a 60 to 80 percent failure rate for allnew businesses started in this country each year.Information regarding specific franchising ideas can be found inthe franchising directories, which are generally available at thelocal library.Often there will be a notice posted in franchise outletsthemselves.If you can afford the entry into this business, statistics are onyour side.You are now armed with some caution and stop and go signs!Good Luc. Jonthan Street is a master at making money from very little investment. If you want to make huge amounts of money with the littlest amount of start-up you simply must sign up for his free weekly eZine "21st Century Entrepreneur" at www.millionaire-enterprises.com |
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Lapels® Franchise Opportunities
are available in the following
states:
Alabama, Alaska, Arizona,
Arkansas, California, Colorado,
Connecticut, Delaware, Florida,
Georgia, Idaho, Iowa, Kansas,
Louisiana, Maine, Massachusetts,
Mississippi, Missouri, Montana,
Nevada, New Hampshire, New
Jersey, New Mexico, New York,
North Carolina, Ohio, Oklahoma,
Oregon, Pennsylvania, Rhode
Island, South Carolina,
Tennessee, Texas, Utah, Vermont,
Washington, West Virginia,
Wyoming |
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