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Today’s Featured Topic: Franchising
While every item on the franchise disclosure document (FDD) is important, some may be more important to you than others. One of the big-ticket items you should be paying attention to is money: what you must put into the franchise and what you get in return.
It would be wonderful if there were a simple calculation to figure out your cost benefit, but there just isn’t. Unfortunately, because the FDD is such a complex document, many prospective franchisees try to simplify it, and nowhere is this more apparent than in the items dealing with fees and services (Items 5, 6, and 8).
Frequently, prospective franchisees will focus on either the franchise fee or the royalty and compare it to the competitors’. At a quick glance, the lowest fee seems the most attractive. Unfortunately, that’s the equivalent of going to a used-car lot and buying the cheapest car you can find.
Welcome to Franchising & You! If you’re interested in learning more about owning your own business and considering franchising as the path to business ownership, then this podcast 🎤🎧 is right for you. If your interest is in expanding your portfolio of businesses and franchises, then you’re in the right place. And, if you’re a current business owner exploring whether or not to franchise your business, then Franchising & You is right for you.
Franchising & You airs Saturdays at 9:30 AM EDT / 8:30 AM CDT and is sponsored by Benetrends Financial, Spadea Lignana and Retail Solutions. Access all segments of Franchising & You on-demand HERE.
We do choose our own destiny. It comes down to choices we make, action we take and the commitment we follow through on to achieve our goals. There is no time like the present to make things happen and to make each and every day count. #Acceler8Success