About the Franchise Process
Our consultation services are at no charge to you, as we are retained by the franchise companies to present candidates who possess the necessary qualifications to be successful. The first step is to fill out an information form (found on our Contact page). Once the form has been submitted, one of our franchise consultants will contact you to verify your information and explain our process.
During this stage, we gather the necessary information to determine which business models may be a good match for you. Our first objective is to understand who you are (e.g. your skills, your interests, what type of lifestyle you desire, and your overall goals). The ultimate goal of any reputable franchise business is not to “sell” a franchise to just anyone willing and able to buy their brand, but to “award” a franchise to candidates that are highly qualified and will thrive in the operation of their business model. Your success is their success!
Based on the information we found out in the consultation, we will present a few franchise companies that may be a good fit for you. You will gain valuable knowledge on each of these great business models. Keep an open mind, evaluate all the business models, compare and contrast them, and be careful not to discount a business until you have all the information. Often the first glance at a business does not paint the whole picture. Learning the numbers and examining the operation of a business is likely to reveal some impressive potential that you may overlook at first.
Connect with the Franchisor
Most franchise companies will start off with a scheduled call to introduce you to their brand and to get to know you. You will learn about the company from an owner perspective, rather than a customer perspective. During this call, you will learn critical information about business model and determine whether you wish to continue exploring this franchise opportunity.
Review of Franchise Disclosure Documents (FDD)
Once you have received an FDD from a franchisor, you will need to thoroughly examine the contents and seek answers to any questions you may have. The franchisor will readily assist you in finding the answers to any questions. The FDD will provide more in-depth information about the company – the team behind the company, the company rules and regulations, any location closures or failures, lawsuits, financial data such as earning claims and start-up costs, etc.
Validation (Call the Franchisees)
It is extremely important that you speak with existing and past franchisees in order to gain an understanding of what it’s like to operate a franchise unit in their system. It is essential to ask the right questions, so your franchise consultant will supply you a list of questions to assist in this process. This is a great opportunity to learn valuable information from those with experience and ask any questions you may have. This is your opportunity to validate the franchise opportunity and get an idea about the profitability of the franchises.
Consultation with Attorney and Accountant
We cannot overemphasize the necessity of consulting with a competent attorney and/or accountant before purchasing any business. It is very important that both professionals have a background in franchising to ensure that you are covered in every way to benefit your position. If you don’t already have these professionals in place, we can make recommendations.
Attend a Discovery Day
Most franchisors have a Discovery Day where they invite prospective franchise partners to visit a specific franchise location and see how the franchise is run. You will not only get crucial information to assist in making your decision, but you will also get to meet the head office staff that will be supporting you in the operation of your franchise business.
Once you have gone through all the previous steps, it is time for you to make a decision. Should you choose to own a franchise, you can be confident that you have taken the necessary steps towards exploring franchise options and finding the business best suited for you.
Top Franchise Broker is not an agent, employee, representative, or other functionary of the seller of the respective franchises introduced to you.
Top Franchise Broker is an Independent Contractor, engaged in the activity of introducing prospective business buyers to sellers of franchises.
Top Franchise Broker is paid a finder’s fee or commission by the seller if you elect to purchase a business from a company that was introduced to you by us.
Top Franchise Broker has not checked the accuracy of the written or web site information provided by the seller, and assumes no responsibility for the acts, errors, or omissions of the seller, or the outcome of any transaction.
Top Franchise Broker is not qualified to advise in any part of the purchase of a franchise. You are urged to seek professional advice from qualified franchise attorney, accountant, or other qualified resource.
Many Franchisors disclose various earnings claims in their disclosure documents. Top Franchise Broker does not enter into discussions of earnings claims. Any earning claims information shall come directly from the franchise representatives.
This website, and the information contained herein do not constitute the offer or sale of a franchise. There are certain states that require the registration of the companies’ Franchise Disclosure Document (FDD) before the franchisor can advertise or offer the franchise in that state. The franchises listed on our website may not be registered in all registration states and may not offer franchises to residents of those states or to persons wishing to locate a franchise in those states. The offer and sale of a franchise can only be made through the delivery and receipt of a Franchise Disclosure Document (FDD.)
Buying a franchise is a complicated investment. Take your time to decide, and personally visit the headquarters of the company you elect to buy from. Make good, common sense decisions in all investment matters. You alone are responsible for researching the franchise you purchase.