Some Franchise System “Characteristics” to Consider When Buying a Franchise
If you are considering the Purchase of a Franchise you need to clearly identify and understand the benefit of becoming a Franchisee. As with every business decision and opportunity there are "benefits" and "risks". Typically one motivation for becoming a Franchisee relates to the perceived benefit that you will be investing in a "tested" and "proven" business concept. However not all Franchise systems are "tested" nor "proven". So‚ before investing in a Franchise you must do your research.
When evaluating potential Franchise opportunities some "Franchisor Characteristics" to evaluate and consider‚ include:
- Whether or not the Franchisors business concept and business plan is clearly identified;
- The Franchisors commitment to the Franchisee;
- Whether or not the Franchisors trademarks are developed and recognized in the marketplace;
- Whether or not existing Franchisees are satisfied and profitable.
For more information on buying a franchise receive a copy of "An Entrepreneurs Guide to Purchasing a Business or Franchise" .
By Charles Internicola August 20, 2010
Franchise ChannelWhat Our Clients Say About The Internicola Law Firm
- Business Transactions
- Buy a Franchise
- Corporate Counsel
- Firm News
- Franchise Your Business
- Grow Your Franchise
- Intellectual Property
- Partnership Disputes
- Start a Franchise
- Do You Need to Have Multiple Locations to Franchise Your Business?
- Don’t Hire a Franchise Consultant if you see these Warning Signs!
- When is the Right Time to Franchise Your Business?
- How to Improve Your FDD Item 19 Financial Performance Representations in 2021 and Beyond (With COVID Impact)
- Should You Create an Education and Training Business Instead of Franchising?