Guide To Acquiring a Franchise

Harbour Capital, a franchise finance company has published an excellent article entitled:

The Guide To Acquiring A Franchise.

If you are considering purchasing a Franchise, I advise you to read the entire article, but here are the bullet points:

Have a Business Plan

Know Your Financial Capabilities

Acquire Adequate Financing

Select the Franchise(s) that suit you best

Thoroughly Research the Franchise(s) (including review of the FDD) that you have Chosen to Pursue

Talk to Other Franchisees

Franchising is a process, and if you’ve never been through it before, it can be more of a gauntlet.

A certified Franchise Broker can use his or her expertise and experience to move you through that process, explaining the language of franchising, connecting you to the right people and, of course, helping you to find financing sources.

However, one of the most important services a Franchise Broker can offer is in helping you to find the Franchise opportunity that fits your goals, your life style and your budget.

The first paragraph of the article states:

Picking which franchise concept suits you best is the first major hurdle that must be overcome

There are an estimated 4000 franchises available in the United States. A good Franchise Broker, using the information that you provide, can eliminate those Franchises that simply don’t fit you or your criteria and focus you in on those that do. My personal experience is that about 75% of those who start their search with a specific Franchise in mind, end up choosing something different.

Don’t start your path to Franchise ownership without a map. Select a knowledgeable and experienced broker and go straight to your goal.