According to the International Franchise Association, a new franchise opens every 8 minutes and drives over 40% of all retail business. Annually, franchising accounts for over $800 billion in sales and over $1 trillion of total franchise sales and employs over 8 million people. Buying a franchise can be a complex and emotional process that can be improved with knowledge and preparation. This workbook arms you with the tools you need to navigate through the transaction and successfully buy your franchise.
If you are thinking about starting or buying a business, one of your options will be to consider buying a franchise. You may decide to buy an existing franchise or buy the rights to a franchise and start from scratch. This comprehensive workbook will help you understand the complexities involved and the decisions you have to make. Written by a professional business broker with many years of real world business experience, this guide is intended to help you buy your franchise in the shortest possible time for the best possible price.
You will learn many important lessons on how to:
- Prepare so you know how to examine the different opportunities
- Plan ahead for taxes and legal matters.
- Hire the right professionals to assist with the process.
- Avoid potential roadblocks and pitfalls.
- Obtain necessary finance.
- Conduct research and properly prepare for success.
- Search for the franchise that makes sense to you.
- Qualify your franchise options.
- Conduct effective negotiations.
Also included are dozens of worksheets, checklists and charts to help you prepare for and track each step of the transaction.