Franchise questions
Hello, my name is Mssmith and I would like to know some great questions to ask a franchisor regarding the purchase of a franchise for myself.
re: What should I ask my potential franchisor?
"Do you want all my money now or are you willing to take it over time?"
re: What should I ask my potential franchisor?
Have you read the UFDD and all the other "sales" information that is provided by the franchisor? What about actually visiting franchisee locations and talking with them first. There are quite a few great articles on this site to read about franchising and I'm sure you can generate some questions from them. Your best bet is to talk to a franchise lawyer to go over the documents with and then they can give you advice and questions to ask ~ they are the pros! There are quite a few franchise lawyers on this site and you can always find a franchise lawyer on the AAFD.org site as well. SO, there is a good question - does the franchisor have an independant franchisee association? IF they don't .......run!!!!!!!!!!
Donna
re: What should I ask my potential franchisor?
A good start would be "Would you please lose my phone number and never contact me again?"
Do you promise to pay me before paying yourself?
If Yes, sign the first one that gets put on the hood of a Chevy.
If no or maybe, all the pre-sale DD is just like wetting a dark suit: A warm feeling at first, but clammy and rash in the end.
Les Stewart MBA
FranchiseFool: Understanding Franchising
What should I ask my potential franchisor?
Great question. I'd like to know the answer to that as well.