Check It Out

On The Case

Your work is just beginning. Now that you've identified a few programs you find exciting, it's time to assess what information you'll need to make the right decision and how you'll go about gathering those nuggets.

The tasks ahead look something like this:

  • self-assessment
  • franchisor and business system evaluation
  • site location and market study
  • investment projections and financing
  • legal assessment and negotiation

And the basic information sources to help you complete those tasks are:

  • the franchisor representative and promotional materials
  • the Uniform Franchise Offering Circular (UFOC)
  • libraries and other public demographic information sources
  • current franchise owners
  • government agencies
  • professional advisors
  • personal advisors, family and friends

It helps to create separate files for these subjects. Your investigations can generate a lot of paper, and you'll want to have it well-organized.

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This article was originally published in the January 1998 print edition of Entrepreneur with the headline: Check It Out.

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