5 Key Items in the Franchise Disclosure Document Explained

Franchise Disclosure Document

 

If you’re considering a franchise, it can be difficult to know where to start––especially when you’re handed documents you’re not familiar with.

 

When it comes to specific documents all prospective franchisees will work one way or another, The Franchise Disclosure Document (FDD) is one of the most important since it holds just about everything there is to know about the franchise.

 

In short, the better you understand what’s inside the FDD, the better prepared for everything that comes next. While no franchise can guarantee wild success, knowing what to look for in these documents allows to make a smarter, more complete assessment of the opportunity by using all the resources at your disposal.

 

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How Does Franchising Actually Work? A Quick-Guide

How does franchising work?

 

Franchising has been one of the most important sectors of the global economy for decades, so it’s no wonder why so many Americans choose to go down that road in order to free themselves from the shackles of their nine-to-five job. According to the International Franchise Association’s 2018 report, strong economic fundamentals and a boost from the tax reform and favorable regulatory environment support above-trend expected growth in 2018.

 

via IFA’s Franchise Business Economic Outlook for 2018

 

Franchising is an enticing option for many potential entrepreneurs who want to own a business but don’t have the resources or know-how to start from scratch.

 

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How to Know Which Business Licenses Your Franchise Needs

franchise licensing

 

Running your own business can be tricky. And starting a business from scratch can be a daunting task, especially when it comes to business licensing. Knowing which licenses your business needs and how to get them can take away from the fulfillment of owning and running the business.

 

Licensing confusion is one of the reasons many people turn to franchises. Owning and operating a franchise is an easier way for people who enjoy running a business to do so without having to figure out all of the legal logistics on their own.

 

When you work with a franchise, many of the licensing requirements will be taken care of or you will be given explicit direction in how to secure the licenses you need.

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Investigating a Franchise Opportunity: 6 Key Steps

Investigating a Franchise Opportunity

 

By now, you’ve decided business ownership is in your future and franchising is the path you’re going to take to get there. Now, you need a reliable process to peel back the cover on franchisors you’re interested in to see which is the best fit. 

 

Before we talk process, however, it’s important to understand that investigating a potential franchise opportunity is often a process of elimination. It’s rare to find the business you’re looking for right off the bat. Don’t be discouraged if your search takes longer than you originally anticipated. It’s always better to take your time to find the right fit rather than rush into a business without being 100% confident in your decision. Read more

4 Things To Do Before and After Buying a Home-Based Franchise

Home-based franchise

 

Buying a franchise you can run from home can save new business owners a lot of money they’d otherwise have to spend on rent, extra utilities, insurance and other costs.

 

It also awards you more freedom over how you decide to run your business day-to-day. But while the benefits of home-based franchising can be alluring, it’s important to realize that not all opportunities are the same.

 

[Read Also:] Buying a Franchise in 2016: 4 Ways to Prepare Today

 

Franchises are an investment. To make that investment pay off, it’s up to you to carefully research your options and make a well-informed decision.

 

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