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Buying a franchise? The questions to ask, the people to see, the resources to use

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If you're attending a trade show for the first time, it helps to go in with a set of questions that cover the information you need to gather. Here's a sampling:

  • What's a typical day of business like for your franchise owners?
  • Is there an independent franchise owners' association? Can I have the name and address of the current head of such an association?
  • Tell me about your network of franchisees. How many are there in the United States, and how many were added to the system last year?
  • How thoroughly have you developed the market in my town? Are franchises available in my town? How many franchises have been sold in this state? What are your development plans in this area for the coming year?
  • What's the total overall cost of building a franchise?
  • What are the initial franchise fees and the monthly royalty rate?
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