Franchise Discovery Process
Our consultation services cost you nothing. We are retained by the Franchisors to qualify and present candidates that possess the necessary characteristics for success. Fill out an information form - one of our franchise recruiters will contact you to verify your information and provide an overview of the process, including introductions to potential Franchisor business partners.
During the initial phases of getting to know you, we gather the information that is necessary to determine what your capabilities are, and which business models will be a good match for you. Our first objective is to understand more about you (e.g., what are your skills, what lifestyle do you want from your new business, what are your long term goals, what would make you jump up and out in the morning). Our Franchise partners are not looking to "sell" a franchise to just anyone that is willing and able to buy into their brand but are seeking candidates that are highly qualified and will thrive in the operation of their business model that they can "award" a franchise. Your success is their success!
Based on our conversations, we will do our homework and identify several Franchises that appear to be a good fit. We will provide you with valuable knowledge on each of the business models presented.
Expect to hear about some exciting name brand franchises in the categories that you expressed an interest in, keep an open mind, evaluate the business models and compare/contrast.
Be careful not to discount a business until you have all of the information - including an introductory interview with each Franchise of interest. Oftentimes, the first glance at a business does not provide a full picture. Your evaluation should include learning the numbers and examining the operation of a business - it is likely to reveal impressive potential that may at first be overlooked.
Review of Franchise Disclosure Documents (FDD)
Following an introductory interview with a Franchisor, you will receive the FDD for review. You need to thoroughly examine the contents and seek answers to any questions that come up. Your Franchisor contact and your ATD recruiter can help you find the answers to your questions.
The FDD will contain a list of franchisees and contact information. It is highly recommended that you take advantage of the opportunity to speak with several franchisees. It provides you with a chance for open dialog with those that have the experience. Current franchisees are your resource to gain an understanding of what it's like to operate a franchise unit in your prospective system.
ATD Business Consulting will help you prep for the franchisee interviews to ensure that you maximize your due diligence efforts.
Seek Professional Advice: Attorney, Accountant, Banker
We cannot over-emphasize the importance of finding and talking to an attorney and/or accountant before purchasing any business. You should seek professionals that have a background in franchising to ensure that you receive the best, most relevant feedback and guidance.
ATD Business Consulting works with multiple attorneys and accountants across the U.S. - we will happily recommend one for you!
What about funding your business? There are so many options and there are organizations that specialize in helping new businesses have the funds necessary to start and run the operations as you grow your client-base and sales.
Attend a Discovery Day!
Many Franchisors have a Discovery Day. They invite prospective Franchise business partners to visit a specific franchise location and see how the business is run. Most times, the location is near or within their Headquarters so that you also have an opportunity to meet the staff that will support you in the operations of your business, including training, sales, marketing, production assistance.
What a great opportunity to meet the staff that will be working with and for you to help you succeed! If offered - don't pass it up! If not offered, ask what is available for you to get that up-front-and-personal feel with your future business partner.
You've covered all the pertinent topics with relevant experts.
You've asked a myriad of questions and you like the answers!
It is time to make a decision. Is there still information you seek? Let's talk about it - your success is my success and at this point - it is all about YOU!
If your path is to complete the purchase of your franchise, you can be confident that you have followed the right steps towards controlling your life, embarking on your next, big, life adventure and experiencing a feeling of freedom that is hard to express in words. Congratulations!
Franchise Consultant Disclosure
ATD Business Consulting, Inc. is not an agent, employee, representative, or other functionary of the seller of the respective business opportunities and franchises introduced to you.
ATD Business Consulting, Inc. is an Independent Contractor, engaged in the activity of introducing prospective business buyers to sellers of franchises and business opportunities.
ATD Business Consulting, Inc. is paid a finder’s fee or commission by the seller if you elect to purchase a business from a company that was introduced by the licensed Business Alliance, Inc. broker.
ATD Business Consulting, Inc. has not checked the accuracy of the information provided by the seller, and assumes no responsibility for the acts, errors, or omissions of the seller, or the outcome of any transaction.
ATD Business Consulting, Inc. is not qualified to advise in any part of the purchase of a business opportunity. You are urged to seek professional advice from a lawyer, accountant, or other qualified resource.
Buying a business opportunity is a complicated investment. Take your time to decide, and personally visit the headquarters of the company you elect to buy from. Make good, common sense decisions in all investment matters.
The Federal Trade Commission regulates the sale of franchises and business opportunities. Contact the nearest office to you for information to assure yourself that any company you deal with is in full compliance with the law.
Your state may also have laws regarding franchises and business opportunities. Ask your state agencies about them.
The Better Business Bureau is an excellent information source for potential business buyers. Contact your local bureau as well as the bureau in the city of origin of the seller. You alone are responsible for researching the seller.