Franchise FAQ

What are the advantages of franchising my business?

The advantages to you when expanding your business through franchising are speed, people, and money.

For more about that, read the article “Thinking About Franchising?”

How much can I expect to make by expanding my business through franchising?

I have a custom Excel Franchise Sales & Royalty Potential Calculator you can use to forecast franchise sales and royalty for up to ten years. It’s easy to use, and its free.

For a free copy Contact Me.

If I franchise, won’t I lose control compared to company-owned stores?

You do lose the absolute control of firing someone on the spot, which comes with its own set of problems, but you’ll gain power in other ways.

For more about that, read the article “Thinking About Franchising?”

Is a completed Operating Manual required to start selling franchises?

Yes.  An Operating Manual is a Federal Trade Commission (FTC) requirement for selling franchises in the US.  You must include the table of contents and number of pages in the Franchise Disclosure Document (FDD).

I offer a DIY Franchise Operating Manual Template that you can finish yourself for a fraction of the cost of having one written for you professionally.  I also provide an option to complete the template for you.  Contact me for a binding quote.

What is the Franchise Disclosure Document (FDD)?

The Franchise Disclosure Document (FDD) is required by the Federal Trade Commission (FTC) for all franchisors offering franchises in the US. It contains 23 Items that explain the franchise that you are selling.

The FDD is required to be written in plain English and includes copies of everything the buyer will be signing such as the Franchise Agreement and other agreements.

The Franchise Agreement is the legal contract between you and your franchisees.

I was quoted $25,000 for a feasibility study. Do I need one?

Not unless you have a very complicated and high-fee offering planned such as a hotel. With smaller startups, feasibility studies are usually a waste of money.

As a successful business owner, you understand your business and industry better than anyone else ever could. Deciding whether franchising is right for you takes some thought and investigation on your part.  Just not an expensive consultant’s report.

Can I sell my franchise opportunity myself?

Yes.  The trick is to design your franchise offering without legalese gobbledygook by not using a generic template, which will make it easy for your buyer to understand what you are selling without the need to get an attorney involved to decipher your documents.

Can you help me manage requests for franchise information?

Yes.  We offer a Prospect Qualification service that works great for managing sales leads.  It also works exceptionally well if you are selling your franchise opportunity yourself.

Can you help us with franchise sales?

Yes.  I offer two services. Full-Service Franchise Sales and Franchise Sales Training.

What is your hourly fee?

My hourly fee is $125 but I also work on a flat-fee basis, one that you will know up front regardless the hours I work on your project.  You can also purchase five hour blocks of personal, one-on-one consulting time for $475.