The franchisee desires to purchase a franchise for the location described in the document. The company requires that the franchisee complete this questionnare in order to enable the company to confirm that it and its employees and representatives have fully complied with all applicable franchise registration and disclosure laws.
Massachusetts Franchisee Closing Questionnaire
Category:
State:
Multi-State
Control #:
US-9-01-STP
Format:
Word;
Rich Text
Instant download
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How to fill out Franchisee Closing Questionnaire?
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FAQ
Unlike building an independent business, when you build a franchised outlet, your business always has a horizon. Once your franchise agreement expires, that's it. That's the end. At this point, you have the experience you gained as a franchisee, but you no longer have a business that you can operate?or sell.
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.
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.
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?
Find out if current franchisees are successful If you could go back in time, would you buy your franchise again? Have you been able to pay off your initial investment? ... Is your cash flow positive or negative? ... What are your costs of goods? Does the franchisor require you to pay more for supplies than you think is fair?
Some of these questions are: How long have you been in business? What made you choose this franchise? How would you rate your relationship with the franchisor? How would you rate the initial training?
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.
3 essential factors franchise buyers must consider are: 1) Strong Leadership who sets the foundation and is committed to best practices, 2) Killer unit economics - the franchisees have within and provided the tools to execute and deliver to the franchisee's bottom line, 3) brand differentiator - what problem is the ...