Looking to invest your hard earned money in a franchise system? Been searching online for the “best” franchise to purchase? Done an exhaustive Google search on franchise opportunities? Learning about franchising?
If any of the above sounds familiar, please read on. Though buying a franchise can provide a tremendous opportunity for you to own a business with brand recognition, a proven track record, and associated good will, it only works well when the right individual is paired up with the right franchise system. Franchising is so much more than just purchasing a business. It is more than buying a system, a brand, a license, or a plan. It is buying a lifestyle, and if not done right, it is buying a JOB!!! Doing it the right way takes time, strategy, and execution.
Unfortunately, most people do not consult with an attorney or any professionals before buying a franchise. Please don’t make this mistake. Before you purchase a franchise, at minimum, you should consult a franchise attorney & accountant. There are many good, reputable, and profitable franchises to invest in. But there are also a lot of scams or at best, bad investments. Your attorney should be able to help you figure out the difference, and help ensure that you make an educated decision based on a complete understanding of the process and the language contained in the legal documents that you will be required to sign.