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January 27, 2023

Ten Questions Any Franchise Candidate Should Ask

Ten Questions Any Franchise Candidate Should Ask
  1. What is the initial franchise fee, ongoing royalties, and other fees associated with the franchise?
  2. What type of training and support do you provide to franchisees?

  3. What is the territory or geographic area in which you are allowed to operate?

  4. What is the franchisor's experience and track record in the industry?

  5. What is the financial performance of existing franchisees?

  6. What is the level of involvement required of the franchisee, both in terms of time and effort?

  7. Are there any restrictions on the products or services that can be offered?

  8. What marketing and advertising support is provided by the franchisor?

  9. What is the process for renewing the franchise agreement and what are the associated costs?

  10. What is the process for selling the franchise, if you decide to exit the business?

These questions will help you better understand the franchise opportunity and evaluate whether it's the right fit for you. Additionally, it's important to review the franchise agreement and have it reviewed by an attorney before signing.

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