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11 MISTAKES YOU SHOULD AVOID INVESTIGATING A FRANCHISE

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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Page 1: 11 mistakes You Should Avoid Investigating a Franchise

11 �  MISTAKES  YOU  SHOULD  AVOID  INVESTIGATING  A  FRANCHISE  

Page 2: 11 mistakes You Should Avoid Investigating a Franchise

They  Assume  That  the  Franchisor  Is  Trying  To  SELL Them  A  Franchise:  

1.

Page 3: 11 mistakes You Should Avoid Investigating a Franchise

BUT  Good Franchise Companies  Make  Candidates  Qualify  To  Own  Their  Franchise    

Page 4: 11 mistakes You Should Avoid Investigating a Franchise

They  ASSUME  That  All  Franchise  OpportuniJes  Are  Valid,  Profitable  

&  "Approved"  By  Somebody:  2.

Page 5: 11 mistakes You Should Avoid Investigating a Franchise

BUT  This  AssumpJon  Isn’t  True.  The  marketplace  makes  these  decisions.    YOU ALWAYS HAVE TO DO YOUR HOMEWORK!  

Page 6: 11 mistakes You Should Avoid Investigating a Franchise

They  Don't  Keep  Their  IniJal  Dreams  Burning

Brightly      

3.

Page 7: 11 mistakes You Should Avoid Investigating a Franchise

THEY  NEED  TO  Keep Investigating! If  there  is  a  roadblock  you  can’t  get  around,  seek  advice  from  the  Franchisor  

Page 8: 11 mistakes You Should Avoid Investigating a Franchise

They  CONFUSE  "GeVng  InformaJon"  With  "Making  A  Commitment"    

4.

Page 9: 11 mistakes You Should Avoid Investigating a Franchise

BUT  Good Franchisors Will  Encourage  The  Exchange of Information  To  See  If  There’s  A  Match  

Page 10: 11 mistakes You Should Avoid Investigating a Franchise

All  Their  INVESTIGATION  Is  Done  Behind  Their  Computers  

5.

Page 11: 11 mistakes You Should Avoid Investigating a Franchise

BUT  

Personal Communication  Cannot  Be  Replaced    

Page 12: 11 mistakes You Should Avoid Investigating a Franchise

They  Don't  INVESTIGATE  PotenJal  Problems  Thoroughly  

6.

Page 13: 11 mistakes You Should Avoid Investigating a Franchise

THEY  NEED  TO…    

Evaluate!  Talk  to  ExisJng  Franchisees  And  Take  Notes!  

Page 14: 11 mistakes You Should Avoid Investigating a Franchise

They  Don't  VISIT THE HOME OFFICE When  Opportunity  Is  Available  To  Them  

7.

Page 15: 11 mistakes You Should Avoid Investigating a Franchise

THEY  NEED  TO  Take Full Advantage  of  The  Franchise  Company’s  Discovery  Day  

Page 16: 11 mistakes You Should Avoid Investigating a Franchise

They  RUSH  Into  a  Decision  or  DAWDLE  To  Go  Ahead  With  the  Purchase  

8.

Page 17: 11 mistakes You Should Avoid Investigating a Franchise

THEY  NEED  TO  Keep a Steady Pace  to  Your  InvesJgaJon  While  Keeping  Contact  With  Franchisor    

Page 18: 11 mistakes You Should Avoid Investigating a Franchise

They  Don’t  ASK QUESTIONS  About  Themselves  

9.

Page 19: 11 mistakes You Should Avoid Investigating a Franchise

THEY  NEED  TO  Ask Questions Like:  What  Am  I  Looking  For  in  a  Business?  Can  I  Build  Equity  With  This  Franchise?  

Page 20: 11 mistakes You Should Avoid Investigating a Franchise

10.

They  DON’T CHECK OUT Financing  Sources  

Page 21: 11 mistakes You Should Avoid Investigating a Franchise

THEY  SHOULD…  Talk  with  your  franchise  consultant.    Consider ALL possible sources of financing

Page 22: 11 mistakes You Should Avoid Investigating a Franchise

INSTEAD  

Do  Not  Quit  and  Do  Not  Get  SNIOP’D (SuscepJble  to  the  NegaJve  Influence  

of  Other  People)  

12.