Franchise Buying Guide

Now You're Cooking

The Shopping List
Presented by Guidant Financial
Guidant Financial specializes in helping entrepreneurs purchase new franchises using their retirement funds.

Next, make a list of your assets, personal strengths, resources and limitations. What money do you have in the bank? Is your credit report in good shape? Do you think you'll qualify to borrow the investment capital you'll need? Do you have friends or family members who are in a position to invest in a promising business venture?

Expect to have these resources tested during your search for the right franchise. Prepare a current financial statement, and obtain references from your bank and your major creditors, like a landlord or a credit union.

If you go into the investment without your list, you could end up forgetting a crucial part of the preparation.

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This article was originally published in the January 1999 print edition of Entrepreneur with the headline: Now You're Cooking.

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