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Summary: Questions you’ll be asked during the franchise discovery process. Learn about buying into a franchise, financing, and questions to ask in this free video.
Views: 292 | Tags: buying, financing, into, franchises, opportunities, businesses, franchisers
About the Expert
Martin Petersen Martin Petersen began his career in graphic arts at MGD Graphic Systems (Rockwell International) in 1972, and since that time, has held executive positions at... read more
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Questions & AnswersOnce you've had this conversation with the franchisor that we mentioned, now you're going to move on and they typically recommend that you call franchisees of theirs to see, and get questions answered that they can't. For instance you'll want to know, how much money am I going to make in this business? Well, it's against the US government regulatory rules that they tell you that type of information or speculate on it. So now this is the time when you can find these types of questions. You call, you select any franchisee that you want from the list of their current franchisees which is in the UFOC document, you call these people and you can ask them what the support like of this franchise is? What, how do these people work with you? Are they successful? Did they make any money in the first year, the second year and then what type of money profits are they making today? Did this turn out to be what they thought it would be? Are they happy? Would they do this all over again? These are the type of questions that you would ask franchisees of theirs so you can determine if this business is going to fit with you and if you feel comfortable with the time frame and the type of income that these people respond, and that this is going to be the business that will make you a success.
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