Using franchise agreement services during the critical time when you are negotiating terms of the franchise relationship is just good business.
June 29, 2011 by Fran
Filed under Franchise Articles
You should not think that you are calling in a “ringer” when you engage franchise agreement services so help you sort out the tricky documents that you must understand before launching your franchise empire. Franchising a business is grown-up work. There is serious money involved. The documents that start out as your way of learning the ropes of the franchising game quickly turn into legally binding contracts with some serious commitments of time, resources, work and money.
By engaging good franchise agreement services, you will have an experienced guide in the great safari into the wilderness of franchising. This is not to say that getting a franchise to start your own business is dangerous or uncharted territory because many have walked these pathways before and come out big winners. But, like a jungle expedition, you will do much better on your hunt to land the big game of a lucrative franchise business if you go into the adventure with an experienced guide by your side.
Part of the work to be done by franchise agreement services is knowing the timing of the various documents that will come your way and how to make those documents your own in preparation for greater challenges to come. Before you can even think about taking that final franchise agreement out of the envelope, you will have some time to review another document called the franchise disclosure document.
The key word that tips you off about what that document is for is “disclosure”. This is an important piece of literature that the company offering that franchise for sale will send to you to set the stage for striking a deal. It is in your benefit to read and then read again the franchise disclosure document and make sure you understand every line of it. Your franchise agreement services can be of help if there are parts of the FDD that baffle you.
Franchise law dictates that the franchising company reveal to you all of their secrets in the FDD so it will be packed with all kinds of juicy tidbits of crucial information about how your franchise relationship will work and how the franchising company ticks inside and out. So bond with the FDD like nobody’s business because if you do, you will be prepared when you show up at the door of your franchise agreement services offices with your franchise agreement in your hand ready to make the leap into owning your own franchise.
The franchise agreement is the story of your life for many years to come.
The real value that franchise agreement services will deliver comes when that actual document arrives. A good franchise consultant or franchise lawyer will make sure you get a franchise agreement sample well in advance so they have plenty of time to help you work through it to be certain your interests are represented well in that document.
The franchise agreement is the real guts of the relationship because it is the singular document that binds you and the company selling the franchise together as partners. More than one smart consultant from franchise agreement services has observed that the franchise agreement is more binding than a marriage license. That is something to think about to be sure.
Within the franchise agreement, you will agree to the terms of how the franchise will work, what your operating territory will be, who will be responsible for advertising and how much you can get away with in your own promotions. Most importantly, every aspect of the money issues that make a franchise a grown-up document are spelled out in the franchise document. When you put your autograph on that dotted line, you are saying that you are 100% on board with that document. Your franchise agreement services gurus can make sure that you really do mean that.
Asking “Can I franchise my business?” shows that you have the good sense to look first and know what you are getting into before starting out in franchising
June 12, 2011 by Fran
Filed under Franchise Articles
It seems that just about any business that can get some level of success in what they do may have that moment when they ask, “Can I franchise my business?” Franchising is the hot thing these days. This is not to say that is isn’t a fair question. Franchising a business can be a huge step toward much greater profitability and a way to make your business take off faster than you could otherwise.
That question, “Can I franchise my business?” starts with where your business is in its growth plan. Obviously, if you are still working on reaching a level of profitability and stability in running the operation you have, that is no time to take on the big challenges of franchising the business. So if you ask yourself, “Can I franchise my business?” because you have a dynamite business idea and a growing customer base, it might be best to wait until you have your “base” well established and the need to expand is pressing.
The very fact that you are nervous enough to ask “Can I franchise my business?” rather than just launching out shows that you have your head together. To ask the tough questions and bring some skepticism into the evaluation will pay you big time because before you spend a dime to franchise your operation, you will make sure you will be a winner in the franchising game and not one of the casualties.
Diving into franchising your business and succeeding may be a matter of who you know.
In reality that question, “Can I franchise my business?” could use with some review. Instead it might be smart to ask, “Should I franchise my business?” An even more on target question might be, “Do I know enough to franchise my business?” That doesn’t mean you are a dummy. It just means that those who go blindly charging into franchising and loose their shirts do so because they did not take the time to learn the ropes of the franchising adventure.
There are a few pitfalls, sand traps and a few cliffs you can fall off of and you need some help knowing where they are. That is why the question, “Can I franchise my business?” might also be revised to, “Do I know people who can help me franchise my business?” The last thing you should do is to launch out into the deep water of franchising without some skilled sailors on your boat, so to speak.
Fortunately, the skilled labor needed to make you a success in franchising are ready to help you out, for a fee. But paying for a well established and experienced franchise lawyer and a solid franchise consultant may be just what it takes to put you in a place where the answer to that question, “Can I franchise my business?” is yes.
Be smart and check out that the franchise experts that you bring onto your team are honest and qualified people. You are a savvy business person so you know how to check references. Once you have a team of smart franchising gurus, set out to become a franchising guru yourself. Look at every example franchise agreement and review knowledgeable literature on the “dos and don’ts” of the franchising game. When you do that, you will become one of the smart ones going into franchising your business and the outcome will be great success for you and your partners.
Franchise Help: How to Hire a Good Franchise Consultant
August 29, 2010 by FranZoom
Filed under Franchise Articles
It is often reported that a good franchise consultant can reduce the amount of effort that is needed to make key decisions in a business deal. These consultants provide franchise help and can really uplift the speed of the process. However is it really necessary for a franchiser to spend the valuable money to hire a consultant? Are there any other alternatives? This article separates the truth from the fiction and highlights some of the misconceptions!
What Benefits do Franchise Help Bring for Businessmen?
During a franchising deal, buyers and sellers often require objective opinions about many particular matters. A fair assessment of the current deal is required at all the stages and an expert can really make a key difference. It is customary about these consultancy companies that no amount is charged on their first visit. However with the passage of time businessmen start to worry about huge fees that these companies charge even for some minor trivial task. Franchise help that these companies offer soon turn out to be a very costly option for a deal.
If Hiring a Franchise Consultant is Costly then What Should You Do?
There are other options that remain available for franchisers to get rid of costly consultancy offered by the experts. Online manuals that provide concise and accurate information are replacing the old office based consultancy companies. You can get an authentic Franchise Operations Manual that will make the decision making a lot easier during a deal. This manual not only saves valuable money but it comes with 100% FTC certification to guarantee supreme quality of franchise help.
FDD documents that are prepared by the consultancy companies in return of huge sum of money are now available through an online template. You can download customizable Microsoft Word Franchise Disclosure Document (FDD) Template for very decent rates. Through this template businessmen can easily create an original document in a very short time without compromising the quality of content.
When Professional Franchise Consultancy is Required?
June 13, 2010 by Kathy Davidson
Filed under Franchise Articles
Franchise consultancy is available for every aspect of any franchise business. There are professional franchise consultants who not only can help you analyze whether or not your business is suitable to transform into a franchise, but can also lead you during every step of the way.
Many franchise owners start their franchise businesses all by themselves and often underestimate the benefits that a professional franchise consultancy can deliver. In many of the cases this is driven by the common conception that consultancy services are expensive. Another common school of thought follows the concept that it is simply impossible somebody, who doesn’t know your business to advise you how to set it up and run it.
In fact franchise consultancy can be quite helpful and it doesn’t necessarily cost a fortune. There are hundreds of examples of successful franchises that are so successful because they could rely on the services of experienced professionals.
Why you may consider hiring a professional franchise consultant?
Business owners who are interested in transforming their business into franchise may consider the services of a franchise consultant company. Franchise start up consultants will be able to analyze the current condition of the business and whether or not it is suitable to become a franchise. Having such advice early on not only can help to place the foundation to a very successful franchise but can also save you from bankruptcy in case your business doesn’t fit into the franchise concept.
Many franchisors risk to be put out of business soon after they have launched their franchises simply because they have failed to set their franchise fees and royalties accurately. While this particular aspect of franchising is not rocket science, still some knowledge and experience is required. And it is another area where franchise consultancy can be very useful.
Once your franchise is talking of, you may want to consider more aggressive expansion. Even if you want to keep a slower growth pace, you will need to carefully monitor and adjust your marketing strategy. Your business can be down overnight if you fail to develop a good marketing plan. There are many franchise marketing consultants that can help you in this area. Their services are very handy not only for devising a better marketing and advertising plan, but for making sure your marketing and advertising meets the state and federal franchise laws.
As a franchisor you know that the relationship with every single franchisee is of utmost importance. Even if you have managed to handle the few franchisees you have had at the beginning, a rapidly growing number of franchisees can quickly lead to problems. Communication problems, unless you know how to handle them, are underwater stones that lead to problems in the long run. Franchisor – franchisee relationships is an area where consultancy can help. It can show you the secrets to good franchisor – franchisee communication and can help you set your company policies into the right direction.