Calhoun Companies

Blog

Take a look at Calhoun Companies' blog written by our business brokers in Minnesota for advice & guidance in buying & selling a business!

Buying a Franchise? Ask These Questions First

By Administrator on
Administrator
Administrator has not set their biography yet
User is currently offline
Feb 27 in Buyers 0 Comments

Buying an existing business or franchise may mean that you don't have to start from scratch, but it can still be overwhelming. If you are considering buying a franchise, here are a few questions to help guide you through your decision:

  1. What financial data can the franchisor provide to assist me in putting together a detailed and relevant business plan?
  2. What sales turnover and profit should I expect over the first 12 months by following the system? 
  3. What  actual data from any existing company-owned or franchised operations can be provided? 
  4. Who founded the business, when, where and why? What is the founder’s involvement in the business today?
  5. Can the franchisor provide a typical training schedule?
  6. Does the training include an assessment of my ability to do the tasks required, and if not, how is a franchisee’s competency to operate the franchise determined?
  7. Can the franchisor provide a typical field support schedule and details of the frequency and nature of support available to franchisees?
  8. What is the franchisor’s leasing policy? (ie. Who holds the lease if it is to be a site-dependent franchise)?

This is a sample of questions we found at MegaDox.com, to read the full list of questions: 14 Questions to Consider Before Buying a Franchise

Tags: starting a business, buying a business, franchise
Hits: 1637

Comments

Please login first in order for you to submit comments
Buy a Franchise

Business Brokerage &
Commercial Real Estate
Services

Buying: Search our listings of businesses for sale.

Selling: Call or contact us to learn more about our complimentary business valuation.

Commercial Real Estate: Inquire about buying, leasing or selling commercial properties.