Connecticut Franchise Comparison Worksheet
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How to fill out Franchise Comparison Worksheet?
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The following is an itemized breakdown of some of the most important sections of the FDD you should focus on when conducting your due diligence. Franchise History. ... Legal Issues in the Franchise. ... Financial Woes in the Franchise. ... Growth Trends for the Franchise. ... Startup Expenses. ... Cash Flow Analysis.
These may include factors such as initial investment, ongoing fees, royalty rates, territory size, brand recognition, training and support, customer demand, growth potential, profitability, and exit options. You can use these criteria to create a checklist or a scorecard to evaluate each franchise opportunity.
Large Franchise Investment Exemption This exemption applies to franchise transactions where the franchisee's initial investment is $1 million dollars or greater. As of July 1, 2020 this monetary threshold of $1 million had been increased to $1,233,000 by the FTC to account for inflation.
The Franchise Rule requires the pre-sale disclosure of material information to prospective franchisees about the franchisor, the franchised business, and the terms and conditions that govern the franchise relationship.
Factors to Consider When Choosing a Franchise Include: The franchise should have a good sales record. ... The marketability of your product or service is key. ... Look into the competition in your area. ... Invest in a franchise that has a lot of repeat business. ... Be passionate about the franchise.
These may include factors such as initial investment, ongoing fees, royalty rates, territory size, brand recognition, training and support, customer demand, growth potential, profitability, and exit options. You can use these criteria to create a checklist or a scorecard to evaluate each franchise opportunity.
Before you invest in any franchise, get a copy of the franchisor's Franchise Disclosure Document (FDD). Under the Franchise Rule enforced by the FTC, you must receive the document at least 14 days before you are asked to sign any contract or pay any money to the franchisor or an affiliate of the franchisor.
Signs of a great franchise opportunity Industry growth. What is the growth potential of the industry you're considering? ... Unit growth. ... Strong support from the franchisor. ... Good management. ... Marketing and advertising support. ... Satisfied franchisees. ... Adequate earnings. ... Sound financial statements.
I always recommend that people considering becoming a franchisee visit a number of the franchisor's locations in different areas to observe a variety of operators, if possible. Key things to look for include how well they run, how consistent the brand is, if there is good customer service and if the stores are busy.
The Rule requires franchisors to provide all potential franchisees with a disclosure document containing 23 specific items of information about the offered franchise, its officers, and other franchisees.
