Due Diligence for Dummies

Is due diligence something difficult? Should it be done by someone else?

Consider the words of franchise attorney Rupert Barkoff in the New York Law Journal on Sep 24:

The official rules for FPR [financial performance representation] preparation are less detailed than the recipe for carrot cake.

In this SmartCompany blog Jason Gehrke suggests:

Due diligence is no more complicated than looking at the facts of a deal from all angles to make sure they stack up.

I suppose some might suggest that any due diligence is better than none  …. or is it?

OK! Most regular BMM readers and contributors have a reasonable to serious understanding of what is involved in effective due diligence and some of what most beginners would never consider.

What information do you consider is missed?  

Franchisees; what piece of information might have turned you off your franchise of choice?