Getting Franchise Information

Written by Laurie Nichol
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Considering buying a franchise? Buying into another company's ideas and products can be the perfect business endeavor. However, get to know how to scrutinize the system - knowing how to protect yourself will keep you confident in your business dealings.

Finding Information on Potential Franchise Opportunities

One of the first things you should do when you're interested in a franchise operation is to request all of their pertinent information. The main document that they should furnish to you is their Uniform Franchise Offering Circular, or UFOC. Read this carefully and, if you wish, consult with an attorney to be sure that you understand all of the terms and conditions therein.

The Small Business Administration is a federal department which exists to serve you. Be familiar with their offerings - they can give you valuable tips and advice on opening a business franchise, as well as reveal any complaints or suits that have been filed against a particular franchisor. You'll find a list of frequently asked questions on their website that may assuage any concerns you might have about venturing forth on a franchising opportunity.

Of course, the best way to really find out how working with a particular franchisor will be is to talk to other franchisees. A franchise company is required to submit to you a list of ten other franchise operators in your area - be sure to ask for this if it's not already been furnished to you. Franchising is a fantastic way to run your own successful business but, as with any business endeavor, ask around, check government records, and always, do your own independent research before choosing your franchise opportunity!

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