Question about business startup

[cptacek]

keep us informed! you know, after the 19 hour days

[vsjhoc]

You need to get an attorney who specializes in franchise law. It is a very heavily regulated area, and someone without relevant experience will be of no use to you, and may even steer you wrong.

The franchisor will have specific requirements about who owns the business and where the cash comes from.

Remember also when you run a franchise, you have extremely little control over the business. The franchisor will dictate everything from the color of the napkins to the location of the business. You have to sign a long-term agreement and have to pay royalties and other fees even if you are not making money.

In the right situation, it can be a great opportunity. Good luck!

[Brokemofo]

keep us informed! you know, after the 19 hour days

If that is true, I'll stick to what I'm currently doing.

[simpleyme]

that's why it is important to talk to someone doing what you want to do, someone that that is not the person that franchise arranges for you to talk but someone who you find on your own ;-)

[Brokemofo]

that's why it is important to talk to someone doing what you want to do, someone that that is not the person that franchise arranges for you to talk but someone who you find on your own ;-)

I will definitely talk to one, two, or all of the other franchise owners around me. Based on some knowledge I already have though the hours are not too awfully bad which is one reason I like this franchise. At some point I will disclose what exactly the business is folks, so you know more precisely what I'm talking about.

[vsjhoc]

I will definitely talk to one, two, or all of the other franchise owners around me. Based on some knowledge I already have though the hours are not too awfully bad which is one reason I like this franchise. At some point I will disclose what exactly the business is folks, so you know more precisely what I'm talking about.

It doesn't matter which business/industry it is, so long as you will be happy living, eating, and breathing it.

It's a good idea to talk to other owners. A better idea is to talk to the ex-franchisees. The franchisor is required to disclose to you the number that left the business in the last year. Those are the ones I would seek out and ask why they dropped out.