How to Buy a Franchise
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Finding information on selecting and buying a franchise has never been easier. How to Buy a Franchise explains everything you need to know about how to research a franchise company, analyze its financial and sales information and investigate the earnings claims of the franchisor. The opportunities available for someone to start a proven business are countless. How to Buy a Franchise will help anyone turn these opportunities into realities.
IntroductionixChapter 1Why Buy a Franchise?1Defined and Proven Business FormatSpecializationUniform SystemAdvertising NetworkName IdentificationTrainingFranchise NetworkPower Buying and ComputerizationChapter 2What is a Franchise?9A Brief HistoryDefining a FranchiseBusiness Opportunity PlansChapter 3Finding the Right Franchise for You15Shop AroundLet the Buyer BewareStarting Your SearchPatienceChapter 4Disclosure Laws25Disclosure DocumentsInitial ConsiderationCooling-Off PeriodRelationship LawsState AgenciesChapter 5The Disclosure Statement37Receiving Disclosure DocumentsCriticism of RegistrationAnalyzing the Disclosure DocumentsFormatContentsChapter 6Financial Feasibility59Cash Flow ProjectionsTerritorial Limitations and Demographic ResearchVisit the FranchisorChapter 7Professional Assistance65Finding the Help You NeedChapter 8Franchise Salespeople and Brokers71Chapter 9The Background of the Franchisor75Founding FathersWarning SignsPersonal MeetingsFinancial BackgroundGovernment AgenciesCompany-Operated UnitsChapter 10Investigating Existing Franchisees83List of FranchiseesFinancial EarningsAdditional ResourcesChapter 11Earnings Claims89Prohibited DisclosuresUFOC GuidelinesViolationsAnalyzing Earnings ClaimsChapter 12Understanding and Negotiating the Franchise Agreement93Read the ContractFranchisee's DutiesFranchisor's DutiesClarification to Start NegotiationHard-to-Change ProvisionsUse Your AttorneyCompare the Franchise Agreement to the Offering CircularPurchase Price NegotiationsInitial Term and Renewal ClausesFranchise TerminationTransferring or Selling the FranchiseProduct and Equipment Purchase RequirementsOperation Manuals--the Hidden AgreementFranchise TerritoryDispute Resolution, Choice of Law, and Forum SelectionNegotiatingChapter 13Your Relationship with the Franchisor119Training PerformanceUnsatisfactory PerformanceEnhancing PerformanceChapter 14Franchisee Input and Franchisee Associations123Franchisee CouncilsFranchisee AssociationsConclusion129Appendix AUniform Franchise Offering Circular (sample)131Appendix BFranchise Agreement (sample)175Appendix CState Filing Requirements203Index213About the Author219
