A franchise owner is an entrepreneur who is success oriented and may be an ex-corporate type or previous business owner. They are the type of person not afraid of taking on long-term, business commitments. They are ready and excited to dive into new concepts and develop the skills needed to support a business opportunity.
The information we have laid out below will be helpful in familiarizing yourself with the process of buying a franchise.
Buying a franchise is a method of business ownership that simplifies the work of developing a business concept and establishing a company. A franchise company has already done the bulk of the hard work for you and will offer a proven successful business model. The franchise has a product or service, an overall company vision, systems and processes, a proven track record and brand recognition. They also provide franchisees with training, structure, support and marketing expertise. An additional added benefit is that the franchise has a vested interest in a franchise location’s success!
Another aspect to consider when looking to buy into a franchise is the startup costs and profitability are predictable. This can be a source of real peace of mind, as starting a business from scratch can be a very unpredictable endeavor. Becoming part of a franchise also provides the owner access to a varied network of current and former franchisees and support professionals so they can easily glean experiential information and advice!
Transworld provides our franchise consulting services at no cost to buyers. And we provide guidance throughout the purchasing process. We will also act as your advocate when dealing with franchisors and will rely on our years of experience in the franchise industry to ensure the process is a positive one. The consulting service includes the search, presentation, and evaluation of opportunities, interviews with franchisors, the explanation of legal documents (including the Franchise Disclosure Document and the Franchise Agreement), financing, validation, and closing. Transworld’s aim is to make sure the buyer is supported at every step of the process!