Are you thinking about buying a franchise? Don't make costly mistakes that could drain your time, money, and energy! Learn how to research, validate, and choose the perfect franchise.
In this episode, Erik Van Horn breaks down the step-by-step process of buying a franchise the right way. He shares how to properly evaluate a brand, avoid red flags in the Franchise Disclosure Document (FDD), and ask current franchisees the right validation questions. Erik also explains why brand recognition isn't everything, how to navigate franchise broker and consultant relationships, and what franchisors look for in potential owners.
Discover the four stages of the franchise buying process, why franchisors evaluate you as much as you evaluate them, and smart franchise validation strategies to avoid being sold into the wrong franchise. Tune in and learn to buy with confidence!
“Buying a franchise, probably for most people, is one of the biggest financial decisions they'll ever make. You do it right, it can be life-changing; it was for me. You do it wrong, you rush it, and it could cost you everything. I've seen that as well." ~ Erik Van Horn
In This Episode:
- Why brand recognition isn’t always a good reason to buy
- The four key stages of the franchise buying process
- Understanding that franchisors also evaluate buyers
- Choosing the right franchise industry for you
- The role of franchise consultants, brokers, and FSOs
- Following the franchisor's process
- Researching and finding the best franchise opportunities
- Reviewing the FDD (Franchise Disclosure Document) the right way
- Asking smart franchise validation questions
- Preparing for Discovery Day and making a decision
Resources:
🌐 Consult with Erik - https://form.jotform.com/222685728939070
🌐 Want to buy a franchise? Connect with Erik here - https://forms.gle/n4JedEuU5p7asE617
🌐 Want to franchise your business? Connect with Erik here - https://forms.gle/n4JedEuU5p7asE617
🌐 Franchisees and franchisors find proven tactics and strategies to scale YOUR businesses - https://scalablefranchise.com/
🌐 Download the 100+ Validation Questions To Ask Franchisees! - https://franchisesecrets.com/validationquestions/
Connect with Erik Van Horn:
🌐 Website - https://franchisesecrets.com/
📷 Instagram - https://www.instagram.com/erikvanhorn/
👍 Facebook - https://www.facebook.com/erik.v.horn/
💼 LinkedIn - https://www.linkedin.com/in/evanhorn/
