This form is a franchise registration questionnare. The form requests information concerning the name and address of the franchisor, affiliates, and competition. Federal law and the law of franchise registration require that an Offering Circular be provided to prospective franchisees no later than the first meeting with them to discuss the franchise and at least 10 business days before either entering into a franchise agreement.
Michigan Franchise Registration Questionnaire
Category:
State:
Multi-State
Control #:
US-1-01-STP
Format:
Word;
Rich Text
Instant download
Description
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How to fill out Franchise Registration Questionnaire?
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Sample questions to ask a franchisor Will the franchisor help me find a good location? ... Can you tell me more about your training program? ... Can you provide extra financial assistance? ... How are disagreements resolved? ... Other Articles From AllBusiness.com: What's a typical day like for your franchise?
What Should I Consider Before Buying a Franchise? The type of experience required in the franchised business. The hours and personal commitment necessary to run the business. The track record of the franchisor, and the business experience of its officers and directors. How other franchisees in the same system are doing.
Find out about the culture of the franchise system and the people you have to work with How long does the typical franchisee stay with the franchise system? How many franchisees have failed in the past 3 years? Who founded the business? ... What experience do key staff have in operating or managing a franchise business?
Some of these questions are: What made you choose this franchise? How would you rate your relationship with the franchisor? How would you rate the initial training?
Michigan is a Franchise Registration State, but unlike other registration states Michigan does not review the FDD and requires only the filing and registration of a notice.
These legal documents, along with the operating manuals, staffing, training programs, and marketing initiatives, are your main investments in the franchise system. The two primary documents you'll create are the Franchise Agreement and the Franchise Disclosure Document (FDD).
Top questions to ask when choosing a franchise What are my personal goals? ... What type of industry do I want to conduct business in? ... What are my strengths? What role do I want to play in the business? ... What kind of commitment do I want to make? ... What is my investment budget? ... A strong support system for franchisees.
How to Prepare for the Franchise Interview Be Aware of Potential Challenges. Do your homework. ... Analyze Your Financial Situation. ... Talk to Current Franchisees. ... Questions for the Franchisor. ... A Mutually Beneficial Relationship.