If your preliminary research into owning a franchise has whetted your appetite, then it’s time do the serious research.
In my last franchise column I talked about the questions you should ask yourself to find out whether a franchise is the right move for you.
Now, it’s time to talk to franchise representatives.
You probably have a lot of questions. You will need a lot of answers. Some of them will come from a franchise development representative.
But the really important questions will come from another source: The current crop of franchisees that are in the franchise system you’re thinking of joining. It’s super-important that you talk to them. They'll have the answers you need.
At a certain point in the franchise discovery process, your franchise representative will encourage you to start reaching out to current franchisees. Most of time, you’ll receive a list of franchisees to call. But, it’s not the complete list. You’ll receive that as part of the Franchise Disclosure Document , or FDD. That’s because the Federal Trade Commission requires all franchisors that are registered in the US to provide the names, addresses and phone numbers of current franchisees as part of the FDD.Page 1 of 4 | Next Page