Franchise and Business Opportunities
Want to be your own boss? A franchise or business opportunity may sound appealing, especially if you have limited resources or business experience. However, you could lose a significant amount of money if you don't investigate a business carefully before you buy. The Federal Trade Commission's Franchise and Business Opportunity Rule requires franchise and business opportunity sellers to give you specific information to help you make an informed decision.
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How can I find out about complaints against a company?
No federal or state agency or private organization can tell you whether a company is legitimate or operates in good faith. The FTC or the Better Business Bureau can report on whether consumers have complained about a company. But, operators of fly-by-night franchise and business opportunity scams know this, and may change the name and location of their company every few months to avoid a record of consumer complaints
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State Offices Administering Business Opportunity Disclosure Laws
Twenty-six states have business opportunity laws. Most of these laws prohibit sales of business opportunities unless the seller gives potential purchasers a pre-sale disclosure document that has first been filed with a designated state agency.
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Franchise Info: How do I know what must be included in a disclosure document or offering circular?
The Franchise Rule states what must be disclosed and provides its own disclosure format. It is published in the Code of Federal Regulations, Volume 16, Part 436 (16 CFR § 436), which may be found by link to the following page: www.ftc.gov/ftc/legal.htm. The Commission also permits the use of an alternative disclosure format, called the Uniform Franchise Offering Circular (UFOC), issued by the North American Securities Administrators Association, for Franchise Rule compliance. Guidelines for preparing UFOC disclosures are available from:
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Franchise Information A Consumer Guide to Buying a Franchise
Many people dream of being an entrepreneur. By purchasing a franchise, you often can sell goods and services that have instant name recognition and can obtain training and ongoing support to help you succeed. But be cautious. Like any investment, purchasing a franchise is not a guarantee of success.
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Franchise Opportunity - 5 Considerations
In addition to the many questions that you should pose to a potential Franchisor, and the many questions they should pose to you, there are several other considerations for you to determine your compatibility with a particular Franchise system.
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Franchise owners have stake in and enjoy help as part of larger entity
One of the biggest American dreams is owning your own home. Another is owning your own business. After years of working for someone else, some just want to be one’s own boss, calling the shots, making the decisions, and running one’s own life. It’s an exciting prospect, but a scary one too. Start-up costs are often high and to keep things afloat, more and more cash comes out of the family savings.
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Covenants Not To Compete: Another Franchise Quandary
Imagine that you have operated a successful franchise business for the past several years. Your franchise agreement’s term expires in the near future and you are contemplating whether renewing the agreement would be a wise business decision.
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Franchises Offer Shortcuts, But Not Control
Q: I will be retiring this year at age 60 and intend to fulfill my lifelong dream of owning my own business. I'm too old to start from scratch, so I'm looking at several franchise opportunities, including fast food, auto parts, and an accounting service.
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Franchise eases transition to business owner
For many people, buying and operating a franchise is the easiest way to become a small business owner.
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Selecting a Franchise
Like any other investment, purchasing a franchise is a risk. When selecting a franchise, carefully consider a number of factors, such as the demand for the products or services, likely competition, the franchisor's background, and the level of support you will receive.
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BUY SMARTER
Sound advice from Rick Upton of SaveItNow! If you're a small or medium-sized business, you've got to practice methods and strategies to buy goods and services smarter. Paying lower prices results in more dollars to your bottom line.
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Franchise or Independent? Choosing the Right Business Format
One of the first questions many prospective entrepreneurs face is whether to pursue business ownership through franchising or the independent route.
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Sign-Making and Advertising Are Strong Franchise Opportunities
Sign-making and advertising franchises are quite different from each other in many ways, but both have a similar key function at their core.
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What Franchisors Look For In New Franchisees
You've done your homework, looking at various business opportunities including the possibility of buying a franchise. Whether it's a franchise for a McDonald's, a quick printing store or a popular-priced family hair salon, there's a process you must get through in order to actually become a franchisee.
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