Ask Entrepreneur - Franchises

How do I know if my business is right to be franchised?

We've had our family business for a few years and wonder if it would be a good model for a franchise system.
Jeff Elgin

How do you prepare a franchise agreement for an LLC?

The franchise is a property management company.
Jeff Elgin

What should I look for during my franchise search?

I'm interested in buying a resale franchise business. It's a profitable franchise opportunity, but I'd like to know the specific precautions I should take.
Jeff Elgin

What industries are the hottest for new franchises during the recession?

What industries are doing better than others right now? I want to pick a franchise that's doing well and will continue to be successful for years.
Jeff Elgin

Should I form an LLC before I sign the franchise agreement?

What about before applying for a loan?
Jeff Elgin

What questions should I ask if I'm buying an existing franchise?

I would love to know what information I need in order get the full picture about whether the franchise will be profitable.
Jeff Elgin

What is the difference between licensing and franchising?

What advantages does a business gain when they license instead of franchise? Recently, I contacted a business which I thought were into franchising, until I was corrected with the right term "licensing."
Jeff Elgin

If a franchisor declares bankruptcy, what happens to the franchisees?

I'm considering purchasing several franchisee food restaurants but am worried that the franchisor might go into bankruptcy.
Jeff Elgin

What are my rights if I purchased a franchise that didn't have a license in my state?

The franchise I purchased told me I didn't need a license to operate a small business. Now I'm paying big franchise fees with literally no support. Am I bound by the non-compete clause if I start a new business of my own under a new name?
Jeff Elgin

How can I force a franchisor to honor the franchise agreement or return the fees I've paid?

I bought a franchise area with rights to sell franchise territories within that area. The franchisor has since made changes to the franchise agreement before allowing any more franchise sales. Therefore I have never been allowed to sell franchises. I don't have the money for a legal battle.
Jeff Elgin

How can I determine a true projection of earnings for a franchise?

The franchisor skirts the issue with vague answers. Surely there must be a way that they can share supportable earnings projections of for their units so that I can determine if this is a good investment.
Jeff Elgin

Does buying an existing franchise qualify for an SBA loan?

I want to buy a franchise from an existing owner. Can I use an SBA loan to finance the sale and to finance working capital?
Jeff Elgin

What's the best way to raise the last bit of capital needed to launch my business?

I have raised $700,000 in funding from two local investors for a hospitality business. I need an additional $300,000 of funds--what's the best way to raise the rest?
Pam Newman

How can I grow my business during the recession?

Despite the economic downturn, I still want to grow my small business. What are some good strategies?
Greg Digneo