Your GPS guidance to Success
The old saying is there are only two guarantees in life – unfortunately, neither of them are “You’re guaranteed to be wealthy.” But, what if you had a roadmap, like your GPS, that helped you determine a route to your best earning potential?
After all, we really want to know three things about a franchise:
1. Will it make the money?
2. Are the franchisees (owners) in the franchise system supported by the franchisor?
3. Are the franchisees (owners) in the franchise system happy?
Investigating a franchise provides the answers to the above questions.
Depending on the franchise systems you investigate, some offer a financial statement in their Franchise Disclosure Document (FDD) – also known as an Item 19 – and others provide contact information for existing franchisees for you to gather the earnings information individually. While approximately 20% of franchises offer an Item 19, many great systems can only provide franchisee contact information. The franchisees can provide you with a great deal of information on the system and what’s needed for success, but perhaps you are not that comfortable digging into the business of a stranger?
The answer is likely: not very! Thankfully we’re here to help, and assisting you in investigating franchisees’ earnings is just one of the several services we provide to help you understand your earning potential with a franchise system. We can be on the phone with you during your calls and provide you with effective questions that can get you the most valuable information.
In addition, we provide one hour of consultation with a professional accountant to help you review the system and its financial stability free. We can also provide a Performa, so you can identify your break-even point – how much revenue you’ll need to generate and a sales target outlined before you even purchase your business.
While it’s true, few things in life are guaranteed, preparation and education can come close in making you feel just as secure. At the very end of this structured due diligence, is the opportunity to make an informed decision and have peace of mind for you and your family whether you purchase a franchise or not.
To receive your free roadmap (GPS) guidance to the right franchise for you, call me or email me at 877-307-1458 or Gayle@RightFranchising.com. We will share our “Insider’s Guide to Business Ownership” manual at no charge.
Certified Franchise Consultant and Immigration Specialist