About the Franchise Investigation Process
Step 1 - Contact Us
Your first step is to fill out the form on the Contact Us page. Alternatively, you can send an e-mail or give us a call at (954) 568-5677. We will gladly answer any general questions you have about franchising prior to starting the franchise investigation process.
Step 2 - Consultation
During this stage, we gather the necessary information to assess your capabilities and determine which business models are a potential match. We want to first understand who you are (e.g. your previous job skills, your hobbies, your stage of life and your overall objectives for owning a business). The ultimate goal of the best franchise systems is not to "sell" franchises; rather, to "award" them to candidates who are highly qualified and appear to be a great match for their business model. Your success is truly their success!
Step 3 - Evaluation
We will introduce you to a select group of franchise opportunities. You'll gain valuable knowledge about each business model and the respective franchise system. We ask that you keep an open mind and judge the merits of moving forward with additional information based upon how the model aligns with the criteria you've provided. Once you've determined which franchises you'd like to learn more about, we'll introduce you to seasoned Franchise Development representatives working directly for the franchisor. They will take you through a comprehensive investigation process which will include a review of their Franchise Disclosure Document.
Step 4 - Franchise Disclosure Document (FDD) Review
Upon receipt of the Franchise Disclosure Document (FDD), you will need to thoroughly review all sections and seek answers to any questions you may have. The franchisor will readily assist in the process, as it is to your mutual benefit that you fully understand all contents of the document. One of the sections of the FDD includes a list of all franchisees in the system along with their contact information. It is highly recommended that you speak to a cross-section of franchisees in order to get their perspective of the franchisor and the business, as well as to get answers to your financial questions pertaining to earnings potential. This part of the process is commonly referred to as "validation".
Step 5 - Call Franchisees/Validation
It is essential to ask the right questions when making validation calls to franchisees. We will gladly assist by providing you with a list of probing questions. You'll want to walk away with a sense of what it's like to be a part of that particular franchise system and whether the information provided by the franchisor "validates" with what their franchisees have experienced, You'll also have an opportunity to get answers to questions that the franchisor might not have included in their FDD.
Step 6 - Consultation with Attorney and Accountant
We cannot overemphasize the need to consult with a competent attorney and/or accountant before purchasing any business. It is very important that they have a background in franchising. If you don't already have these professionals in place, we can make recommendations.
Step 7 - Attend a Discovery Day
Most franchisors host Discovery Days (sometimes called "Meet the Team Days") where they invite prospective franchisees to their Support Center or to a specific franchise location. The objective is to more fully understand the operations of the business and to have an opportunity to meet with key executives and employees working for the franchisor in various capacities. You will not only get crucial information to assist in making your decision, but you'll also have the opportunity to meet the staff that will be supporting you in the operation of your franchise business.
Step 8 - Decision Time
Once you have gone through all of the preceding steps, you'll be in a position to make a decision. Should you choose to move forward with one of the franchise systems you've investigated, you'll feel confident that you fully researched and evaluated the opportunity prior to making your final decision.
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.)
BTS Franchise Consulting is not an agent, employee, representative, or other functionary of the seller of the respective franchises introduced to you.
BTS Franchise Consulting is an Independent Contractor, engaged in the activity of introducing prospective business buyers to sellers of franchises.
BTS Franchise Consulting 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.
BTS Franchise Consulting 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.
BTS Franchise Consulting 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. BTS Franchise Consulting does not enter into discussions of earnings claims. Any earning claims information shall come directly from the franchise representatives.
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.
The Federal Trade Commission regulates the sale of franchises. The FTC has a very user friendly web site, www.FTC.gov. We suggest you use it.
Your state may also have laws regarding franchises. Ask your state consumer affairs agencies about them.
The Better Business Bureau is another excellent information source for potential franchise buyers. www.BBB.org will put you in instant touch with both local and national offices.