Welcome to the educational series:What you need to know before you purchase a franchise
Thank you for joining us for this course. I would like to introduce you to Sabrina Wall, CEO of the Franchise Brokers Association and the Franchise Training Institute. With more than a decade in franchising, the FBA team has discovered the keys to finding the best franchises and protecting our clients' investments.
FBA brokers have helped facilitate thousands of franchise transactions around the world and we would like to share with you some of that knowledge in this 4 part series. We promise it will be quick, powerful and worth your time. So, let’s start at the beginning.
Nan Stricker, President GPS Franchise
This course will cover the following topics...
CEO of the Franchise Brokers Association
Lesson 1: Setting proper expectations
"Identifying the best franchises is actually... not that simple. That’s why most people don’t do it."
"Instead, they end up buying on emotion, believing in the sales materials and only having a few conversations with other franchise owners. That’s it."
"In our opinion, this is not the safest or best way to invest one’s life savings."
Especially when there IS a way to understand the information and increase your odds of success. With so much at stake, we would think that more people would pay closer attention to their investments, but that ends up not being the case.
To reliably predict the viability of a franchise, you MUST work with a trained professional who has legitimate information
- There is simply no way to understand the complexities of franchising if you are not working in this business every day.
- A professional is someone who understands franchise evaluation and business viability.
- Many people in franchise sales have NEVER been trained on what it takes to actually evaluate a franchise.
- A professional is someone who has access to and can analyze what is known as the Federal Disclosure Document (FDD).
Can you answer these questions?
- How much will it cost?
- How much money can I make?
- How quickly can I make it?
- What are other people saying about it?
- How will I be supported?
- Can I see myself doing this?
Not all franchises are good investments. When you work with a professional, you will be armed with real data that can prove if a franchise has a history of success.
In LESSON 2 you'll learn about what you need to be aware of when beginning your search for a franchise investment.