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3 Things You NEED to Know Before Buying a Franchise
Video Transcript
Know what you're buying!
The 3 MOST IMPORTANT factors to consider before buying a franchise are:
1) Trademark - You're licensing to use the franchisor's name, and want to ensure it's a well-known, established brand.
2) Fees - Purchasing a franchise typically requires an initial franchise fee, ongoing royalties, and, in some cases, a marketing fee. You should compare these fees across the entire marketplace to ensure you're getting the best deal possible.
3) The System - The system can include an operations manual, training, or on-site support. All of the knowledge and experience the franchisor has accrued should be readily available to you so you have a blueprint for success.
Considering buying a franchise?
Contact the experienced team at Luther Lanard and schedule a consultation today!