THE AAFD ROAD MAP TO SELECTING A FRANCHISE

Size: px
Start display at page:

Download "THE AAFD ROAD MAP TO SELECTING A FRANCHISE"

Transcription

1 THE AAFD ROAD MAP TO SELECTING A FRANCHISE

2 Written and produced by the Staff Of the American Association of Franchisees & Dealers Our thanks and appreciation to the many current and prospective franchisees whose experiences, insights, and "learning experiences" contributed to the making of this publication Edition This publication is designed to provide accurate and authoritative information in regard to the subject matter covered. It is sold with the understanding that the publisher is not engaged in rendering legal, accounting, or other professional services. If legal advice or other expert assistance is required, the services of a competent professional person should be sought. From a Declaration of the Principles jointly adopted by a Committee of the American Bar Association and a Committee of Publishers. 2

3 Welcome! You are reading this booklet because you're interested in buying a franchised business. Some of you already have a fair amount of business experience and are merely seeking useful resources for your selection process. Others of you, however, may find yourselves newcomers to the small business world and are eager not only for resources, but a plan to help you conduct your selection process. In preparing this booklet, we have attempted to provide both a suggested "road map" for your selection and a variety of resources we think will be helpful to you in your decision-making. It is not intended as a comprehensive survey of all resources available about buying and owning a franchised business, but is intended to point you in the right direction and get you started. Remember, you are considering investing your hard earned money (or borrowed capital) as well as your financial future and dreams in a new franchised business. The time and money you "invest" now, with in-depth research and investigation, together with legal and financial guidance from experienced professionals, may well save you many unpleasant and costly hours in future litigation and/or financial ruin. It is the desire of the AAFD to see that your plans for selecting a franchised business are realized in such a way that you open the door to success. We invite you to let the AAFD assist you with its many resources. Our best to you for a successful selection! The Staff of the AAFD P. O. Box Palm Desert, CA (619) Toll Free: Fax: (866) Benefits@AAFD.org 3

4 BUILDING YOUR, SUCCESS TEAM Frequently we hear people say they want to "save money" in their selection process by doing it themselves, or using a friend or family member instead of using qualified counselors. Failure to obtain experienced counsel, your own "success team", can be "penny wise and pound foolish." Cutting corners in your franchise selection process is not a very good idea. Given the level of your potential investment, including site acquisition, buildout, fees and commissions, make allowance for a reasonable budget for expert advice. Typically, a budget of 2-5% of your total investment is sufficient to afford a competent "success team" to steer you through the selection process. The AAFD can help lower your costs with special member discounts and pricing from many fine professionals. Building your success team won't guarantee your success, but our experience shows it will save you from the "penny wise, pound foolish" trap. Your Success Team: You, as an educated buyer of the franchise, are the most important part of the "team." An experienced franchise attorney who understands franchise agreements and can review your offering circular and assist you in the establishment of your business. An experienced financial consultant or accountant who understands franchise business and can review your offering circular with a view to projecting the profit potential and risk of your opportunities, and can assist you in setting up proper financial control systems. The AAFD for referrals to these and other experienced professionals, through our exclusive Franchisee LegaLine SM, FinanciaLine SM and experienced consultants. These services are tailored to prospective and current franchisees. All AAFD affiliated service providers offer substantial discounts to our members. The AAFD is your ally, always seeking to provide those services which will assist you in being successful. 4

5 HEALTHY WEALTHY & WISE Some of you reading this booklet will be old hands on business matters, and these questions will merely serve as touch stones as you move through your selection process. For others of you, however, you may have intuitively understood the need for these questions, but were uncertain how to focus your exploration. Once again, these few questions are intended to guide and prompt you into further personal investigation, or what franchise experts call due diligence. Consider a Personality Profile Assessment to assist you in assessing your business and personal interests, skills, strengths, and weaknesses. Do I have the requisite business skills to qualify me for an investment of this nature? How much money do I have available to spend, and can I afford the financial risk of buying a franchised business? How much money will it take to fully fund the purchase of a franchised business, including start up costs and working capital for your first year business? How can I find and qualify for financial funding? What kind of support is really provided from the franchisor? If my franchised business fails, what are my rights and what are the consequences for my long-term financial health? Does the franchisor recognize and work with an independent franchisee association that represents the interests of the franchise owners. Does my franchisor collectively bargain with its franchisees, and what is my franchisor s reputation for fairness and support for its franchise system? Has the franchisor earned the AAFD s Fair Franchising Seal? 5

6 THE AAFD S 8 THINGS TO LOOK FOR IN A FRANCHISE 1. Select a franchising company that is primarily interested in distributing quality products and services to ultimate consumers. Although this rule may seem obvious, many (if not most) franchising companies are primarily interested in selling franchises and are less concerned with the quality of the products and services they are theoretically in business to sell. 2. Your franchising company should be dedicated to franchising as its primary mechanism of product and service distribution. Be wary of franchisors with a large number of company-owned stores, or who retain the right to distribute its products through other channels such as supermarkets or discount stores. TIP: Only Select A Franchise that Meets ALL 8 Criteria! 3. Your franchising company should produce and market quality goods and services for which there is an established market demand. The value of franchising emanates from the value of the franchisor. Too many prospective franchisees cannot qualify for a widely-recognized franchise and settle for a lesser known system thinking the franchise concept is more important than the product and trade name. 4. If you are seeking an established market, be sure to select a franchisor with a well accepted trademark. 5. Evaluate your franchisor's business plan and marketing system. A well-established, well-designed marketing system will provide substantial and complete training and overall franchisee support at a reasonable cost, and ideally included as part of your franchise fees. 6. Your franchisor should have good relationships with its franchisees. Likewise, the franchisees should have a strong franchisee organization which has negotiating leverage with the franchising company. A franchisor that does not permit its franchisees to organize is a sure sign of trouble ahead. Strong franchisee associations, on the other hand, will pave the way to successful and cooperative franchising systems. 7. Only deal with franchising companies that provide sales and earnings data which demonstrate an attractive return on your investment. Do not believe franchisors who claim they are forbidden by law to provide earning projections and evidence of actual performance. To the contrary, all state and federal laws regulating franchising encourage franchisors to provide earnings claims to prospective franchisees. 8. Select a franchisor that supports the AAFD's Fair Franchising Standards and respects the Franchisee Bill of Rights of the AAFD. 6

7 EDUCATING YOURSELF This is the homework of buying a franchise. Franchisors want you to buy their franchise and their materials are structured with this goal in mind. The more you learn about franchising and the franchise selection process, the more successful you will be at understanding what the franchisor is really offering you. We highly recommend the following sources of information about franchising and franchise opportunities: The Franchise Fraud: How to Protect Yourself Before & After You Invest, by AAFD Chairman Robert Purvin, AAFD member price available. Buying a Franchise: The Better Business Bureau Insider s Guide to Success, The Better Business Bureau TIP: Learning what to ask and what to look for is Critical. How Much Can I Make? by Rob Bond, Sourcebook Publications, 2009, AAFD Member Price Available Franchising 101, The Association of Small Business Development Centers Buying a Franchise: A Consumer Guide, published by the U.S. Federal Trade Commission. Available at New in 2013!The AAFD s unique Franchise Self Evaluation Tool. Our Evaluation Tool enables you to easily grade a specific franchise opportunity against the AAFD's Eight Criteria for Buying a Franchise, the Franchisee Bill of Rights, and to enable a side-by-side comparison of various opportunities you are considering. Now FREE with your AAFD membership. Franchise Opportunity Directories: New in 2013! The AAFD Franchise Business Sales Directory, Powered by BizBuySell.com. A national directory of existing franchised business for sale, and franchisors seeking new franchisees. Bond s Franchise Guide, by R.E. Bond; Sourcebook Publications, AAFD Member price available The Franchise Handbook, available by subscription or can be purchased at your local newsstand or book store. Franchise Times Magazine Franchise Times SuperBook of Franchise Opportunities. 7

8 INFO ON THE WEB American Association of Franchisees & Dealers New in 2013! The AAFD Franchise Business Sales Directory, Powered by BizBuySell.com. A national directory of existing franchised business for sale, and franchisors seeking new franchisees. US Federal Trade Commission Cal-EASI database of franchise filings: The following commercial websites have useful information, but some may sell advertising to franchisors: TIP: The Internet is great source of information for prospective franchisees. Literally scores of websites offer valuable information to investors. Here are a few that we have looked at for you

9 Your Center for Total Quality Franchising! HOW THE AAFD CAN HELP Franchisee InfoLine: For information on the following: The AAFD s Fair Franchising Standards: The AAFD has led the way in defining fair and balanced franchising standards for a Total Quality Franchising relationship. The AAFD standards have been negotiated between franchisor and franchisee interests to protect you and the success of your franchising experience. New in 2013, the AAFD is introducing a unique Franchise Self Evaluation Tool. Our Evaluation Tool enables you to easily grade a specific franchise opportunity against the AAFD's Eight Criteria for Buying a Franchise, the Franchisee Bill of Rights, and to enable a side-by-side comparison of various opportunities you are considering. Now FREE with your AAFD membership. AAFD Accredited Franchisors: Choose a franchisor that has earned the AAFD Fair Franchising Seal, and have confidence that your franchisor respects the AAFD s Fair Franchising Standards, and has earned the respect of its franchisee population. New in 2013! The AAFD Franchise Business Sales Directory, Powered by BizBuySell.com. A national directory of existing franchised business for sale, and franchisors seeking new franchisees. AAFD Member Discounts: All service provider professionals offer special discounts to AAFD members. SM Franchisee LegaLine : AAFD member referrals to a network of experienced franchise attorneys can provide a "Franchise Opportunity Review." Franchisee FinanciaLine : AAFD member referrals to a network of experienced accountants, CPA's, and other financial services professionals. The AAFD Suppliers Network: AAFD member referrals to a network of consultants and businesses offering virtually everything you buy in your franchised business. The AAFD Purchasing Group is member owned and managed to serve your needs. SM Workshops & Seminars: The AAFD has many resources to develop individual workshops and seminars tailored to your needs. The AAFD maintains an active Speakers Bureau, and frequently collaborates with the SBA Small Business Development Centers to provide local programs on franchising. Presenters on a wide range of subjects can be easily arranged. Contact the AAFD for details. For more information please visit us online at 9

10 OTHER SOURCES OF INFORMATION Magazine articles in: Franchise Times Magazine, Entrepreneur, Kiplinger Personal Finance, Money Guide to Small Business and others. Talk to your local Small Business Development Center about resources and opportunities in your area, or the region in which you wish to establish a franchise. Franchise companies that are publicly traded have information readily available through Federal and state securities laws. Classes on franchising may be available at local colleges or adult continuing education centers. SCORE -- a network of retired business executives -- in your area. Talk to your neighborhood franchisees... learn what their experiences have been. Contact the Franchisee association for your prospective franchise, if any. Brokers and consultants specializing in franchise sales; BUT REMEMBER, These are often sales people! Trade shows: for a sampling of what's available. But don't take your checkbook - do not buy without completing your investigation and careful evaluation! 10

11 NARROWING THE CHOICES Critical Questions! 1. Does the franchisor you are considering recognize an Independent Franchisee Association and collectively bargain with its franchisees? 2. What is the prospective franchisor's reputation for fairness and support for its franchise system? 3. Buy a notebook for each franchise you are contacting and always take notes. 4. Make a permanent file for each franchisor you're investigating and keep all the information you gather, in your notebook. You'll accumulate a lot of information! 5. Contact prospective franchisors to find out what their application procedure is. Request a Uniform Franchise Offering Circular for each franchise system of interest to you. 6. Do not pay any money before receiving any circular you request: By law the franchisor should not charge any fees until you have reviewed your offering circular for 10 days. 7. Make a record of ALL conversations with each franchisor: include date, time, person talked to, promises, questions and answers. 8. Retain this information for future discussions with your attorney and accountant 9. Use the AAFD's "8 Things to Look for in Selecting a Franchise" and "The Franchisee Bill of Rights" to aid you in your review and negotiations. (see pages 8 & 13). And don t forget... New in 2013, the AAFD Franchise Self Evaluation Tool is now FREE with your AAFD membership. 11

12 EVALUATE YOUR SELECTION Doing Your Due Diligence 1. Due diligence means research, research, and more research! 2. Due diligence means examining the offering circular closely. All research you've previously done is invaluable in knowing what to look for and what questions to ask. 3. Research start up costs, suppliers; summary of all the franchisor agrees to provide including training; site or territorial rights; business and financial investigation of the franchise and its owners, your competitors, etc. 4. Make a record of ALL conversations with the franchisor including date, time, and person talked to, promises, questions and their answers 5. Franchisors are required by law to disclose any litigation: ask and research. 6. Use your "success team," including an AAFD referral to a LegaLine lawyer and FinanciaLine accountant for an "Opportunity Review," i.e., to review the offering circular with you. 7. Give both your accountant and attorney a copy of your notes (keep originals for your files). 8. And don t forget... New in 2013, the AAFD Franchise Self Evaluation Tool is now FREE with your AAFD membership. 12

13 CAUTIONS Critical Caution! Do not sign any agreement without having it reviewed by your attorney and accountant. Do not pay for any circular you request. Promises made by a franchisor may not be binding unless included in the final franchise agreement. Record ALL conversations with each franchisor -- include date, time, person talked to, promises, questions and their answers. The UFOC does not mean the government has reviewed and/or approved your franchise. Do not be pressured into signing an agreement: It's in the salesman's interest to create a sense of urgency that may not be real. Remember: Trade shows and franchise brokers are in business to sell franchises. Talk to lots of franchisees including those the franchisor doesn't recommend or who have recently left the system. Include some in similar geographic areas, some who've been in business 3-12 months, and some who've gone through a renewal cycle and have been in the system for many years. The Franchisor must give names of all franchisees who left the system in the past 3-5 years. Never underestimate the start-up costs of getting into the franchise. Make sure you have enough funds to carry you until the business makes a profit. Don't assume that because a franchisor is a member of the International Franchise Association (IFA), it is a "reputable" franchisor. 13

14 The Franchisee Bill of Rights The Franchisees of America, representing the best of the American entrepreneurial spirit, hereby proclaim this Franchisees Bill of Rights As the minimum requirements of a fair and equitable franchise system: The right to equity in the franchised business, including the right to meaningful market protection. The right to engage in a trade or business, including the right to a post-termination right to compete. The right to the franchisor s loyalty, good faith and fair dealing, and due care in the performance of the franchisor s duties, and a fiduciary relationship where one has been promised or created by conduct. The right to trademark protection. The right to full disclosure from the franchisor, including the right to earnings data available to the franchisor which is relevant to the franchisee s decision to enter or remain in the franchise relationship. The right to initial and ongoing training and support. The right to competitive sourcing of inventory, product, service and supplies. The right to reasonable restraints upon the franchisor s ability to require changes within the franchise system. The right to marketing assistance. The right to associate with other franchisees. The right to representation and access to the franchisor. The right to local dispute resolution and protection under the laws and the courts of the franchisee s jurisdiction. A reasonable right to renew the franchise. The reciprocal right to terminate the franchise agreement for reasonable and just cause, and the right not to face termination, unless for cause. The American Association of Franchisees and Dealers House of Delegates adopted and promulgated the Franchisee Bill of Rights on June 6, 1996, and works to promote awareness and acceptance of these rights among the franchising community and the general public.

About Best Bet Franchise

About Best Bet Franchise About Best Bet Franchise Best Bet Franchise was formed in response to an underserved market in the industry for high-level, advanced education and training on purchasing a franchise. The world of franchising

More information

HealthSource Chiropractic and Progressive Rehab FDD / UFOC

HealthSource Chiropractic and Progressive Rehab FDD / UFOC Brochure More information from http://www.researchandmarkets.com/reports/1875458/ HealthSource Chiropractic and Progressive Rehab FDD / UFOC Description: The HealthSource Chiropractic and Progressive Rehab

More information

January 8, 2002. FTC Rule Review Comparison of UFOC and Proposed FTC Disclosure Requirements

January 8, 2002. FTC Rule Review Comparison of UFOC and Proposed FTC Disclosure Requirements Steven Toporoff, Attorney Federal Trade Commission Division of Marketing Practices Room 238 Washington, DC 20580 January 8, 2002 RE: FTC Rule Review Comparison of UFOC and Proposed FTC Disclosure Requirements

More information

Here's what you receive with a Jackʼs New Yorker Deli Franchise: Site Selection & Design: In-Depth Training: Recipes: Equipment and Supplies:

Here's what you receive with a Jackʼs New Yorker Deli Franchise: Site Selection & Design: In-Depth Training: Recipes: Equipment and Supplies: The same high standards that go into making a Jackʼs New Yorker Deli sandwich apply to every aspect of our business system. Here's what you receive with a Jackʼs New Yorker Deli Franchise: Site Selection

More information

The Franchise due diligence process

The Franchise due diligence process The Franchise due diligence process The purpose of this article is to assist those with an interest to own their franchise and use an investigative process and to set the stage for subsequent interaction

More information

Franchise Sales for the New and/or Emerging Franchisor

Franchise Sales for the New and/or Emerging Franchisor Franchise Sales for the New and/or Emerging Franchisor Speakers: Rob Goggins, Vice President of Franchise Development, Service Brands International Mike Watorski, President, ZGurus Moderator: Brian Schnell,

More information

Starting or Buying a Business

Starting or Buying a Business Thad Johnson, AIF, MBA 222 2nd Ave SE Hutchinson, MN 55350 320-587-3444 thad.johnson@flagship-advisors.com Starting or Buying a Business Page 1 of 5, see disclaimer on final page Starting or Buying a Business

More information

The Federal Trade Commission s Guide to Buying a Franchise

The Federal Trade Commission s Guide to Buying a Franchise Helgerson Franchise Group Growing Franchise Mega-Brands! The Federal Trade Commission s Guide to Buying a Franchise 727-455-0056 www.helgersonfranchisegroup.com Consumer Guide to Buying a Franchise Federal

More information

FRANCHISE BUSINESS JOURNAL

FRANCHISE BUSINESS JOURNAL Financing a Franchise Redefining the Great American Dream Do you own your own home? Chances are that you do; in fact, almost 70% of adult Americans have achieved that Great American Dream. But did you

More information

Home Renovations and Repair

Home Renovations and Repair Home Renovations and Repair June 2005 This tipsheet is intended to provide general information and is not a substitute for legal advice. This tipsheet has two parts: general information about hiring any

More information

Don't Start It, Buy It! - When buying beats starting from scratch

Don't Start It, Buy It! - When buying beats starting from scratch Don't Start It, Buy It! - When buying beats starting from scratch There are seven reasons to buy a going business. You get an established customer base, experienced employees, a recognized market position

More information

Bringing a Franchise Brand to the U.S.

Bringing a Franchise Brand to the U.S. Bringing a Franchise Brand to the U.S. LeClairRyan Thomas M. Pitegoff 885 Third Avenue Sixteenth Floor New York, New York 10022 Phone: 212.634.5032 tom.pitegoff@leclairryan.com WWW.LECLAIRRYAN.COM BRINGING

More information

Small Business Entry. Chapter 06. Paths to Full-Time Entrepreneurship. Copyright 2011 by the McGraw-Hill Companies, Inc. All rights reserved.

Small Business Entry. Chapter 06. Paths to Full-Time Entrepreneurship. Copyright 2011 by the McGraw-Hill Companies, Inc. All rights reserved. Small Business Entry Paths to Full-Time Entrepreneurship Chapter 06 McGraw-Hill/Irwin Copyright 2011 by the McGraw-Hill Companies, Inc. All rights reserved. Learning Objectives LO1 Describe five ways that

More information

How to Write a Marketing Plan: Identifying Your Market

How to Write a Marketing Plan: Identifying Your Market How to Write a Marketing Plan: Identifying Your Market (Part 1 of 5) Any good marketing student will tell you that marketing consists of the four functions used to create a sale: The right product to the

More information

Chapter 4 Franchises and Buyouts

Chapter 4 Franchises and Buyouts Chapter 4 Franchises and Buyouts TRUE/FALSE 1. One of the advantages of buying a franchise is that the purchaser has access to a proven business system. ANS: T PTS: 1 REF: p. 109 OBJ: 4-2 TYPE: C 2. A

More information

Answers To The. Most Frequently Asked Questions About Franchising

Answers To The. Most Frequently Asked Questions About Franchising Answers To The Most Frequently Asked Questions About Franchising International Franchise Association, 2001 Revised 2005 The International Franchise Association (IFA) was established in 1960 to build and

More information

Marketing 101: A Guide to Winning Customers

Marketing 101: A Guide to Winning Customers Marketing 101: A Guide to Winning Customers Text File Slide 1 Marketing 101: A Guide to Winning Customers Welcome to SBA s online training course, Marketing 101: A Guide to Winning Customers. This program

More information

CONTENTS 1.1 Information Needed 1.2 Other Considerations 1.3 Specific Businesses 1.4 Franchises

CONTENTS 1.1 Information Needed 1.2 Other Considerations 1.3 Specific Businesses 1.4 Franchises 1.0 BUSINESS PURCHASE OR SALE CONTENTS 1.1 Information Needed 1.2 Other Considerations 1.3 Specific Businesses 1.4 Franchises 1.1 Checklist Of Information Needed In Evaluation (Due Diligence): Profit and

More information

A Consumer Guide to Buying a Franchise

A Consumer Guide to Buying a Franchise A Consumer Guide to Buying a Franchise Contents Introduction... 1 The Benefits and Responsibilities of Franchise Ownership... 2 The Cost... 2 Controls... 3 Terminations and Renewal... 4 Before Selecting

More information

FREQUENTLY ASKED QUESTIONS

FREQUENTLY ASKED QUESTIONS FREQUENTLY ASKED QUESTIONS 1. Do I have what it takes to own/manage a small business? You will be your own most important asset, so an objective appraisal of your strengths and weaknesses is essential.

More information

Finding sources of capital. Secured and unsecured borrowing Selling equity Government programs Frequently overlooked sources

Finding sources of capital. Secured and unsecured borrowing Selling equity Government programs Frequently overlooked sources Finding sources of capital BusineSS Coach series Secured and unsecured borrowing Selling equity Government programs Frequently overlooked sources Business Coach series The fundamentals of finance The situation

More information

Franchises and Buyouts

Franchises and Buyouts CHAPTER OUTLINE Spotlight: Veteran Franchise Centers (http://www.recruitmilitary.com/franchises.) 1 What Is Franchising? Define franchising and become familiar with franchise terminology. Franchising Terminology

More information

Beregovskaya T.A. FRANCHANSING AS A MODERN CONCEPT OF BUSINESS DEVELOPMENT

Beregovskaya T.A. FRANCHANSING AS A MODERN CONCEPT OF BUSINESS DEVELOPMENT SUM, Moscow Most franchise networks do not begin with firm plans or any thought at all, relating to franchising. Without regard to whether the business operates from a single location or several outlets,

More information

SMALL BUSINESS DEVELOPMENT CENTER RM. 032

SMALL BUSINESS DEVELOPMENT CENTER RM. 032 SMALL BUSINESS DEVELOPMENT CENTER RM. 032 FINANCING THROUGH COMMERCIAL BANKS Revised January, 2013 Adapted from: National Federation of Independent Business report Steps to Small Business Financing Jeffrey

More information

Market entry strategy and distribution channels

Market entry strategy and distribution channels Market entry strategy and distribution channels Market entry strategies To select the most effective route to market you ll need a clear understanding of your target market and the needs and preferences

More information

Buying a Franchise. www.vetbizresourcecenter.org Copyright 2009 Virginia SBDC Network All rights reserved

Buying a Franchise. www.vetbizresourcecenter.org Copyright 2009 Virginia SBDC Network All rights reserved Buying a Franchise An important step in the small business startup process is deciding whether or not to go into business at all. Each year, thousands of potential entrepreneurs are faced with this difficult

More information

FRANCHISING YOUR BUSINESS. How we can help you grow

FRANCHISING YOUR BUSINESS. How we can help you grow FRANCHISING YOUR BUSINESS How we can help you grow Our services for franchisors Developing your franchise business We are proud to support the growth of ethical franchising in the UK. We are committed

More information

Marketing Software and Web Developer with Clients Nationwide

Marketing Software and Web Developer with Clients Nationwide Marketing Software and Web Developer with Clients Nationwide This web-development, marketing, and software company, founded in 2000, has developed a loyal, long-term client base, who appreciates its excellent

More information

SMALL BUSINESS OWNER S HANDBOOK

SMALL BUSINESS OWNER S HANDBOOK SMALL BUSINESS OWNER S HANDBOOK PART II: FINANCIAL PLANNING FOR SMALL BUSINESSES Introduction Financial Planning Methods of Financing Your Business Other Types of Funds & Financing How to Approach Lenders

More information

Chapter 4: Buying an Existing Business

Chapter 4: Buying an Existing Business Chapter 4: Buying an Existing Business 1 Learning Objectives To understand that buying an existing business has several important advantages over starting one, including less risk, less time and effort,

More information

International Franchise & Business Opportunities May 28, 2014. VCI Legal Award-winning expertise with practical insights

International Franchise & Business Opportunities May 28, 2014. VCI Legal Award-winning expertise with practical insights International Franchise & Business Opportunities May 28, 2014 VCI Legal Award-winning expertise with practical insights Tuan A. PHUNG Esq. Managing Partner VCI Legal Hon. General Consul Finnish Consulate

More information

Mortgage Basics. What is it? Prequalification vs. preapproval. Applying for a mortgage

Mortgage Basics. What is it? Prequalification vs. preapproval. Applying for a mortgage Mortgage Basics What is it? Prequalification vs. preapproval Applying for a mortgage Mortgage brokers Private mortgage insurance Escrow account Closing costs Buydowns Mortgage life/disability insurance

More information

United States General Accounting Office July 2001 GAO-01-776

United States General Accounting Office July 2001 GAO-01-776 GAO United States General Accounting Office Report to Congressional Requesters July 2001 FEDERAL TRADE COMMISSION Enforcement of the Franchise Rule GAO-01-776 Contents Letter 1 Results in Brief 3 Background

More information

After Bankruptcy: What You Need to Know

After Bankruptcy: What You Need to Know After Bankruptcy: What You Need to Know The Path to Creditworthiness Bankruptcy offers some resolution to your financial worries. However, it also carries negative consequences and major responsibilities

More information

RE: STOP! READ THIS BEFORE YOU BUY OR SELL A BUSINESS Most of the Rules of Thumb As Basis For Valuing a Business Are Not Defensible

RE: STOP! READ THIS BEFORE YOU BUY OR SELL A BUSINESS Most of the Rules of Thumb As Basis For Valuing a Business Are Not Defensible FROM: WAYNE UNZE (878-0001) RE: STOP! READ THIS BEFORE YOU BUY OR SELL A BUSINESS Most of the Rules of Thumb As Basis For Valuing a Business Are Not Defensible According to Fortune magazine, more than

More information

GROWTH STRATEGIES: INCLUDING FRANCHISING, LICENSING, AND DISTRIBUTION

GROWTH STRATEGIES: INCLUDING FRANCHISING, LICENSING, AND DISTRIBUTION GROWTH STRATEGIES: INCLUDING FRANCHISING, LICENSING, AND DISTRIBUTION There are many ways in which a business can structure growth. Some examples include: (a) adding additional company-owned outlets; (b)

More information

GUIDELINES FOR PROSPECTIVE FRANCHISEES

GUIDELINES FOR PROSPECTIVE FRANCHISEES GUIDELINES FOR PROSPECTIVE FRANCHISEES BILL SCHUETTE ATTORNEY GENERAL Consumer Protection Division Franchise Section G. Mennen Williams Building, 1 ST Floor 525 W. Ottawa Street Lansing, MI 48913 DAG 008-019

More information

RAISING SMALL BUSINESS CAPITAL THROUGH SECURITIES

RAISING SMALL BUSINESS CAPITAL THROUGH SECURITIES RAISING SMALL BUSINESS CAPITAL THROUGH SECURITIES STATE OF IDAHO Idaho Department of Finance Securities Bureau 800 Park Blvd., Suite 200 Boise, Idaho 83712 P.O. Box 83720 Boise, Idaho 83720-0031 (208)

More information

Before You Start a Business A Basic Checklist

Before You Start a Business A Basic Checklist Before You Start a Business A Basic Checklist The following is a list of questions that every entrepreneur should answer before going into business. These questions are all yes or no answers. There is

More information

AutoSalesTraining. The Road to Success. Supplement included: Ten Step Road to the Sale

AutoSalesTraining. The Road to Success. Supplement included: Ten Step Road to the Sale The Road to Success Supplement included: Ten Step Road to the Sale The Road to Success... 3 The Ultimate Objective of a Successful Salesperson... 6 Prompt Approach... 8 Proper Approach... 10 Gathering

More information

Real Estate Council of British Columbia. Selling a Home IN BRITISH COLUMBIA WWW. RECBC. CA

Real Estate Council of British Columbia. Selling a Home IN BRITISH COLUMBIA WWW. RECBC. CA Real Estate Council of British Columbia Selling a Home IN BRITISH COLUMBIA WWW. RECBC. CA The Real Estate Council of British Columbia protects the public interest by assuring the competency of real estate

More information

Selecting the Right Professional Liability Insurer

Selecting the Right Professional Liability Insurer Selecting the Right Professional Liability Insurer When it comes to professional liability coverage, insurance is insurance, is insurance, right? Where once there were only a couple of carriers who offered

More information

Franchise Success Statistics and Factors:

Franchise Success Statistics and Factors: Franchise Success Statistics and Factors: Are Franchised Businesses More Successful Than Independent Businesses? What Information Should Individuals Rely on Before Buying a Franchise? Industry Claims US

More information

DOGPATCH CAPITAL WeALTH & InvesTmenT management

DOGPATCH CAPITAL WeALTH & InvesTmenT management DOGPATCH CAPITAL Wealth & Investment Management INVESTMENT ADVISORY AGREEMENT Dogpatch Capital LLC ( Advisor ), an investment Advisor domiciled in the State of California, agrees to act as an investment

More information

VENTURE CAPITAL 101 I. WHAT IS VENTURE CAPITAL?

VENTURE CAPITAL 101 I. WHAT IS VENTURE CAPITAL? VENTURE CAPITAL 101 I. WHAT IS VENTURE CAPITAL? Venture capital is money provided by an outside investor to finance a new, growing, or troubled business. The venture capitalist provides the funding knowing

More information

E&O Risk Management: Mee ng The Challenge Of Change. Agency/Carrier Rela onships Law of Agency

E&O Risk Management: Mee ng The Challenge Of Change. Agency/Carrier Rela onships Law of Agency E&O Risk Management: Mee ng The Challenge Of Change Agency/Carrier Rela onships Law of Agency Agent/Carrier Relationships - Law of Agency Objectives: Learn the concept of the law of agency Understand how

More information

Before you agree to buy a house, make sure

Before you agree to buy a house, make sure SPECIAL ALERT Office of the Attorney General, Consumer Protection Division Home Buyers: Beware of Flipping Scams Bought by "flipper" $24,000 February Before you agree to buy a house, make sure you re not

More information

Growing your business through franchising

Growing your business through franchising Growing your business through franchising Starting a franchise At HSBC, we know that success in business depends on relationships. Creating a network of support builds trust and that builds business. Our

More information

Franchise Ownership 101

Franchise Ownership 101 Franchise Ownership 101 About The Entrepreneur Source We are a global leader in business and franchise coaching. We help people build rewarding careers, take control of their lives and create financial

More information

THE FIDUCIARY DIFFERENCE

THE FIDUCIARY DIFFERENCE Federal and state law requires that Registered Investment Advisors are held to a Fiduciary Standard. This law requires that an advisor act solely in the best interest of the client, even if that interest

More information

Employment Recruiting Screening Testing Staffing Payroll Consulting

Employment Recruiting Screening Testing Staffing Payroll Consulting The Idea THE IDEA... It all started with an idea. An idea so profound it would create absolutely nothing new. It would combine over 100 years of industry experience, focus on proven systems, and be built

More information

How to Sell Your Property Fast and For Top Dollar!

How to Sell Your Property Fast and For Top Dollar! SPECIAL REPORT How to Sell Your Property Fast and For Top Dollar! A Guide for Home Sellers to Help Attract An Unlimited Number of Buyers for Your Property This publication is designed to provide accurate

More information

Cash Flow: Know Its Value Today When Buying, Selling, or Expanding

Cash Flow: Know Its Value Today When Buying, Selling, or Expanding The Business Library Resource Report #26 Cash Flow: Know Its Value Today When Buying, Selling, or Expanding! Rate of Return Components! Risk and Present Value Analysis! You as Seller, You as Buyer! Today

More information

Kody & Company, Inc. Real Estate Specialists 60 Ashland St. North Andover, MA. 01845 Ph. 978-686-1954 Fax 978-686-1413 www.kodyco.

Kody & Company, Inc. Real Estate Specialists 60 Ashland St. North Andover, MA. 01845 Ph. 978-686-1954 Fax 978-686-1413 www.kodyco. Kody & Company, Inc. Real Estate Specialists 60 Ashland St. North Andover, MA. 01845 Ph. 978-686-1954 Fax 978-686-1413 www.kodyco.com Buyer Book Agency Relationship Preparing for Home Ownership Assessing

More information

ACCOUNTANTS DO MORE THAN COUNT BEANS

ACCOUNTANTS DO MORE THAN COUNT BEANS ACCOUNTANTS DO MORE THAN COUNT BEANS By Gerald G. Kepner, Jr. All Rights Reserved 2012 Gerald G Kepner Jr ACCOUNTANTS DO MORE THAN COUNT BEANS Accountants are a dime a dozen, so choosing the right accountant

More information

New Mexico State Investment Council

New Mexico State Investment Council New Mexico State Investment Council Fiduciary Responsibility Discussion Nancy A. Williams June 25, 2013 (This page left blank intentionally) 2 Agenda General Trust Principles Who Are Fiduciaries? Limitations

More information

Toll Free: 1.888.XPORTSK (9767875) (in North America) Email: inquire@sasktrade.sk.ca www.sasktrade.sk.ca

Toll Free: 1.888.XPORTSK (9767875) (in North America) Email: inquire@sasktrade.sk.ca www.sasktrade.sk.ca These manuals are created as resource guides for members of Saskatchewan Trade and Export Partnership (STEP). For more information on these manuals please contact Saskatchewan Trade and Export Partnership

More information

Bob House General Manager, BizBuySell. Ed Pendarvis. Founder, Business Buyers University

Bob House General Manager, BizBuySell. Ed Pendarvis. Founder, Business Buyers University Bob House General Manager, BizBuySell Ed Pendarvis Founder, Business Buyers University 1 General Manager for BizBuySell.com the Internet's largest and most heavily trafficked business-for-sale marketplace.

More information

Chapter 5: Buying a Practice. Where To Go

Chapter 5: Buying a Practice. Where To Go Chapter 5: Buying a Practice Where To Go To begin the process of buying a practice, be sure to consider the following potential sources of information: dental schools; dental societies; professional journals;

More information

How a Financial Planner Can Help You

How a Financial Planner Can Help You How a Financial Planner Can Help You FAMILY PLANNING EDUCATION INVESTMENT RETIREMENT SAVING EQUITY FAMILY PLANNING EDUCATION INVESTMENT RETIREMENT SAVING EQUITY FAMILY PLANNING EDUCATION INVESTMENT RETIREMENT

More information

PROFESSIONALISM in PRACTICE

PROFESSIONALISM in PRACTICE PROFESSIONALISM in PRACTICE Southwest Actuarial Forum San Antonio, Texas 10 December 2010 Disclaimer: The opinions expressed are solely those of the presenter and are not approved positions of the American

More information

The material in this document is intended to provide only general information to Canadian Western Bank s clients and the public, and not for the

The material in this document is intended to provide only general information to Canadian Western Bank s clients and the public, and not for the Business Valuation The material in this document is intended to provide only general information to Canadian Western Bank s clients and the public, and not for the purposes of providing professional advice.

More information

SMALL BUSINESS FRANCHISE ASSOCIATION. Franchising your Business Cheat Sheet. Little Black Book of Resources Small Business Franchise Association

SMALL BUSINESS FRANCHISE ASSOCIATION. Franchising your Business Cheat Sheet. Little Black Book of Resources Small Business Franchise Association Little Black Book of Resources Small Business Franchise Association 2014 Small Business Franchise Association 1 Welcome Hi there! Thanks for downloading the Small Business Franchise Association s Franchising

More information

Selling a Small Business and Succession Planning for a Small Business

Selling a Small Business and Succession Planning for a Small Business Table of Contents Welcome... 3 What Do You Know? Selling a Small Business and Succession Planning... 4 Pre-Test... 5 Determining If a Business Should Be Sold... 6 Discussion Point #1 Reason for Selling

More information

WHAT YOU NEED TO KNOW ABOUT BUYING AND SELLING A HOME

WHAT YOU NEED TO KNOW ABOUT BUYING AND SELLING A HOME WHAT YOU NEED TO KNOW ABOUT BUYING AND SELLING A HOME This brochure will outline laws and issues that affect consumers in their purchase and sale of real property LOAN ISSUES Predatory Lending There are

More information

PHOENIX NEW MEDIA LIMITED STATEMENT OF POLICIES GOVERNING MATERIAL, NON-PUBLIC INFORMATION AND THE PREVENTION OF INSIDER TRADING

PHOENIX NEW MEDIA LIMITED STATEMENT OF POLICIES GOVERNING MATERIAL, NON-PUBLIC INFORMATION AND THE PREVENTION OF INSIDER TRADING PHOENIX NEW MEDIA LIMITED STATEMENT OF POLICIES GOVERNING MATERIAL, NON-PUBLIC INFORMATION AND THE PREVENTION OF INSIDER TRADING Adopted on [ ], 2011 and effective conditional and immediately upon commencement

More information

Keeping Your Home - Protect your investment

Keeping Your Home - Protect your investment Keeping Your Home - Protect your investment People who plan, budget and save for successful homeownership have a much better chance of keeping a roof over their heads and building wealth as property values

More information

DISCRETIONARY INVESTMENT ADVISORY AGREEMENT

DISCRETIONARY INVESTMENT ADVISORY AGREEMENT DISCRETIONARY INVESTMENT ADVISORY AGREEMENT This Discretionary Investment Advisory Agreement (this Agreement ) is between (the "Client") and LEONARD L. GOLDBERG d/b/a GOLDBERG CAPITAL MANAGEMENT, a sole

More information

CHOOSING A FINANCIAL ADVISOR

CHOOSING A FINANCIAL ADVISOR CHOOSING A FINANCIAL ADVISOR Prepared By Winer Wealth Management, Inc. 21243 Ventura Blvd. Suite 207 Woodland Hills, CA 91364 (818) 673-1695 www.winerwealth.com Common Concerns Do any of these sound familiar?

More information

What is Credit? What Different Types of Credit Are Available?

What is Credit? What Different Types of Credit Are Available? Credit and Debt What is Credit? Credit is a contract between a lender, such as a bank, a credit card company, or a store, and an individual or company. The lender provides the money or access to money,

More information

Winter 2007. In This Issue. Get New Leads Today and Start Selling in 2007. Treat Them as Clients, Not Customers: Know Your Market

Winter 2007. In This Issue. Get New Leads Today and Start Selling in 2007. Treat Them as Clients, Not Customers: Know Your Market Winter 2007 Get New Leads Today and Start Selling in 2007 The new Quotit Leads program provides lead opportunities for brokers in the various health insurance markets; specifically those who sell individual

More information

Organizing Your Finances After Your Spouse Has Died

Organizing Your Finances After Your Spouse Has Died Organizing Your Finances After Your Spouse Has Died Page 1 of 7, see disclaimer on final page Organizing Your Finances After Your Spouse Has Died What is it? Even if you've always handled your family's

More information

Avoiding Common Franchising Pitfalls for Franchisees

Avoiding Common Franchising Pitfalls for Franchisees View the online version at http://us.practicallaw.com/3-573-6126 Avoiding Common Franchising Pitfalls for Franchisees MATTHEW J. KREUTZER, HOWARD & HOWARD PLLC, WITH PRACTICAL LAW COMMERCIAL A Practice

More information

GETTING A BUSINESS LOAN

GETTING A BUSINESS LOAN GETTING A BUSINESS LOAN With few exceptions, most businesses require an influx of cash now and then. Sometimes it is for maintaining growth; sometimes it is for maintaining the status quo. From where does

More information

There s a Lot to Learn about Money

There s a Lot to Learn about Money No matter who you are, making informed decisions about what to do with your money will help build a more stable financial future for you and your family. Alan Greenspan There s a Lot to Learn about Money

More information

Franchise Opportunity

Franchise Opportunity Franchise Opportunity About Us Exactly what does it take to put the right person in the right position? A great resume? A good interview? A gut feeling? At NEXTAFF, the Professional Hiring Organization,

More information

ADVICE FOR STARTING A BUSINESS Notes compiled by Peter Burke Accredited SCORE Counselor April 2010

ADVICE FOR STARTING A BUSINESS Notes compiled by Peter Burke Accredited SCORE Counselor April 2010 ADVICE FOR STARTING A BUSINESS Notes compiled by Peter Burke Accredited SCORE Counselor April 2010 The following pages present information available from the websites of the BEC and SCORE. The BEC (Business

More information

BERRY COLLEGE CAREER CENTER JOB SEARCH STRATEGIES

BERRY COLLEGE CAREER CENTER JOB SEARCH STRATEGIES BERRY COLLEGE CAREER CENTER JOB SEARCH STRATEGIES A job search is a time-consuming endeavor. However, the time you put into the job search process will be proportional to your results. Be prepared before

More information

Financing you can count on! www.thnlending.com

Financing you can count on! www.thnlending.com Financing you can count on! www.thnlending.com What s included in the Acquisition of THN Lending THN Lending has a perfect credit rating (Debt Free) 2 American Express Credit Cards with limits of $20k

More information

Participant Guide Building: Knowledge, Security, Confidence FDIC Financial Education Curriculum

Participant Guide Building: Knowledge, Security, Confidence FDIC Financial Education Curriculum Loan to Own Building: Knowledge, Security, Confidence FDIC Financial Education Curriculum Table of Contents Page Lending Terms 1 Consumer Installment Loan Versus Rent-to-Own 2 Federal Trade Commission

More information

Using Credit to Your Advantage

Using Credit to Your Advantage Hands on Banking Using Credit to Your Advantage Credit Reports, Credit Scores and Dealing with Debt The Hands on Banking program is a free public service provided by Wells Fargo. You may also access the

More information

Contents. Introduction/Executive Summary. What s Involved With Owning A Franchise? Owning Your Own Business The Franchise Model

Contents. Introduction/Executive Summary. What s Involved With Owning A Franchise? Owning Your Own Business The Franchise Model Contents Introduction/Executive Summary What s Involved With Owning A Franchise? Owning Your Own Business The Franchise Model Where to Start? Is A Franchise For You? Do You Have What It Takes? Finding

More information

Snell &Wilmer. I. What Is a Franchise?

Snell &Wilmer. I. What Is a Franchise? United States by John R. F. Baer and Susan Grueneberg As Chapter published excerpt in originally published in the American Bar Association Forum on Franchising publication International Franchise Sales

More information

Choosing and Evaluating Financial Professionals

Choosing and Evaluating Financial Professionals Milestone Financial Group David Hunt, CFP Financial Advisor 205-D Plaza Drive Greenville, NC 27858 252-756-7005 TF 877.706.7005 dave@milestonefinancialgroup.com Choosing and Evaluating Financial Professionals

More information

RISK ASSESSMENT FOR SMALL BUSINESS. Terry S. Campbell, Community Development Officer Department of Development & Technology

RISK ASSESSMENT FOR SMALL BUSINESS. Terry S. Campbell, Community Development Officer Department of Development & Technology RISK ASSESSMENT FOR SMALL BUSINESS Terry S. Campbell, Community Development Officer Department of Development & Technology Date: March 25, 2004 1 Counseling Tool Outline - Cover Page - Outline - Introduction

More information

SECURITIES LITIGATION & REGULATION

SECURITIES LITIGATION & REGULATION Westlaw Journal SECURITIES LITIGATION & REGULATION Litigation News and Analysis Legislation Regulation Expert Commentary VOLUME 17, ISSUE 7 / AUGUST 9, 2011 Expert Analysis Broker-Dealer Licensing: Understanding

More information

How To Help Your Business

How To Help Your Business AVAILABLE ASSISTANCE TO BUSINESSES The Arlington EDA is pleased to offer local businesses access to the following incentives and information resources. TAX INCREMENT FINANCING Tax increment financing is

More information

Surety Bond Tutorial by Lori Kieswetter

Surety Bond Tutorial by Lori Kieswetter Contract Surety Bonds Defined Surety Bond Tutorial by Lori Kieswetter A bond issued by a surety bond company on behalf of a contractor, guaranteeing that the contractor will complete a contract as per

More information

GUIDE TO ACQUIRING STARTUP FINANCING

GUIDE TO ACQUIRING STARTUP FINANCING GUIDE TO ACQUIRING STARTUP FINANCING 2015 American Institute of CPAs. All rights reserved. 15608-312 To make your business #CPAPOWERED, call today and let s get started. Contact information Address Phone

More information

GUIDE TO ACQUIRING STARTUP FINANCING. To make your business #CPAPOWERED, call today and let s get started.

GUIDE TO ACQUIRING STARTUP FINANCING. To make your business #CPAPOWERED, call today and let s get started. GUIDE TO ACQUIRING STARTUP FINANCING To make your business #CPAPOWERED, call today and let s get started. It s no secret that you will need capital money to launch your new business. In fact, many entrepreneurs

More information

Choosing HOW you fund your business is just as IMPORTANT as the business you choose.

Choosing HOW you fund your business is just as IMPORTANT as the business you choose. Choosing HOW you fund your business is just as IMPORTANT as the business you choose. About Benetrends Benetrends has been helping visionary entrepreneurs successfully launch their dreams for nearly 30

More information

This is what You should know to Protect Yourself and Your Wealth

This is what You should know to Protect Yourself and Your Wealth Are you being Fooled by Titles? How to Protect Yourself! Every week I receive dozens of calls, emails or questions from investors just like you who finally realize the person they entrusted with their

More information

The Georgia Brokerage Relationships in Real Estate Transactions Act

The Georgia Brokerage Relationships in Real Estate Transactions Act Chapter 9 The Georgia Brokerage Relationships in Real Estate Transactions Act A. OVERVIEW PURPOSE OF THE ACT The Brokerage Relationships in Real Estate Transactions Act (BRRETA) http://www.crowngeorgia.com/brreta.htm

More information

INVESTMENT TRANSLATED INTO HUMAN WORDS

INVESTMENT TRANSLATED INTO HUMAN WORDS INVESTMENT JARGON TRANSLATED INTO HUMAN WORDS Hi, The world of finance loves jargon, but it s overly confusing. Let s clear the air. Here s a concise walk-through of terms that are common, but often not

More information

Settlement Agreement & Mutual Release

Settlement Agreement & Mutual Release Settlement Agreement & Mutual Release This agreement is useful for completing the renegotiation of a deal perhaps you offer to pay a reduced amount of a long-standing invoice perhaps you have a complex

More information

What to Consider Before Buying A Franchise

What to Consider Before Buying A Franchise NEW YORK STATE OFFICE of the ATTORNEY GENERAL What to Consider Before Buying A Franchise Eric T. Schneiderman NYS Attorney General Dear Potential Franchisee: Buying a franchise is a serious investment.

More information

Business Plan Workbook

Business Plan Workbook Business Plan Workbook Developed by the staff of the Niagara County Community College Small Business Development Center 3111 Saunders Settlement Rd Sanborn, NY 14132 7162102515 www.niagarasbdc.org Call

More information

COMPANION POLICY 31-103CP REGISTRATION REQUIREMENTS AND EXEMPTIONS. Table of Contents

COMPANION POLICY 31-103CP REGISTRATION REQUIREMENTS AND EXEMPTIONS. Table of Contents COMPANION POLICY 31-103CP REGISTRATION REQUIREMENTS AND EXEMPTIONS Table of Contents Part 1 Definitions and fundamental concepts 1.1 Introduction 1.2 Definitions 1.3 Fundamental concepts Individual registration

More information

THE PRIVATE PLACEMENT MARKET

THE PRIVATE PLACEMENT MARKET GUIDE TO INVESTING: THE PRIVATE PLACEMENT MARKET FOR RETAIL INVESTORS WELCOME TO THE INVESTRIGHT GUIDE TO INVESTING IN THE PRIVATE PLACEMENT MARKET FOR RETAIL INVESTORS Both public and private businesses

More information