During this information gathering phase, we get to know a little bit about your background and why you are interested in buying a franchise by creating a franchise buying profile. You also get to learn about us and we can answer any questions you may have about franchises in general, you’ve selected the best in the industry! Now the process begins to help find and acquire the right franchise for you.
Now we take your franchise buying profile and compare it to our large inventory of franchises available for purchase. Our work saves you an enormous amount of time and energy. We know which franchises match your background and interests and can quickly find out if it is available in your desired location.
We present the franchises we found for you. We will provide highlights on each franchise and explain how they fit your criteria.
We organize a phone call with the franchise companies that interested you the most.
We will share with you our expertise in deal structure, by helping you draft a contingent offer on a business that you would like to buy. A purchase and sale agreement will be presented to the seller with a deposit of good faith held in escrow to demonstrate your seriousness. After any negotiations, you should be left with an executed contingent purchase agreement to buy a business.Now that you have spoken with the franchise companies, they will typically send you the Franchise Disclosure Document (FDD) in electronic or paper copy for you to review. Just so you know up front, the FDD can be quite a large document. It contains a lot of good information so that you can make an informed decision about moving forward with any of the franchises.
This period is where you fully inspect the owner’s representations are accurate. We will coordinate the efforts of your legal and accounting professionals and strive to satisfy all contingencies. If there is financing involved your application must be approved by the lender, proving that you are qualified for repayment of the loan.After reviewing the FDD, you will start speaking with franchisees to start validating some of the information in the FDD and from the initial phone call.
Assurance. You may have some questions after the last two steps so another call with the franchise company will take place to answer these questions.
This next step is the discovery day. Most franchises have discovery days so you can meet them in person and see who you will be working with to grow your franchise.
After discovery day, you will make the decision to move forward to sign the franchise agreement for your new venture, or keep searching and start the process again.