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