SERVICES
Step 6: Review of the UFOC
We will discuss the items that are contained in an UFOC; in particular items that you should pay close attention. You should then review the UFOC in complete detail writing down any questions or concerns for discussion with the Franchisor. The UFOC will contain a list of franchisees and contact information.
Step 7: Call Franchises
The Franchisor should provide you a list of several franchisees for you to call to ask questions about the franchise. Obviously, the Franchisor is going to give you a list of franchisees that are successful and have positive things to say about the franchise. The reason for calling these references is that you want to ask them why and how they became successful. Then you need to determine if you can be do the same things that they did to be successful.
Step 8: Consultation with Attorney and Accountant
You should always consult with an attorney and an accountant before making a decision. It is important to insure that both people have a good background in franchising. If they don't, then the process may cost you more that you needed to pay while they do their research.
Step 9: Attend a Discovery Day
Most franchisors have a Discovery Day, where they will invite you to their location. You will not only get crucial information for your decision, but will get to meet the staff that will be providing your initial training and continuing support.
Step 10: Decision Time
You have taken all of the steps up to the door, and now you must open it. Decision time. Congratulations you have decided to buy a franchise. You have become a “Frantrepreneur”, a cross between a traditional entrepreneur and a modern franchise owner. A person that possesses the desire to be a business owner, but does not want to recreate the wheel.
