With more than 3,000 franchise concepts available today, why make the decision alone?
Here at FranNet of Oregon, we specialize in helping you learn about the many choices available and how to select the right next step for you! FranNet will provide you with guidance, information and support as you seek your goals. We are ethical and experienced consultants who can help you safely and affordably find what you want. No other franchise organization has as much experience and as much success in helping prospective franchisees find businesses. Investing in a business opportunity is a big decision.
No doubt you have many questions. Here you will find answers to our most frequently asked questions.
What does FranNet do?
FranNet is a large franchise network of local, franchise experts. Your FranNet consultant will help you navigate through a multitude of franchise opportunities. FranNet provides guidance, information and support to individuals who are interested in purchasing a franchised business. FranNet consultants specialize in helping their clients find the right franchise through their exclusive matchmaking process.
How does FranNet help me?
Our consultation process will save you time and money (our services are free!) in support of your search and provide you with fact based information in response to personal goals and preferences. Most people do not understand the range of available franchising choices and tend to make decisions without sufficient knowledge. FranNet of Oregon can:
- Help you understand the pros and cons of owning your own business.
- Recommend franchise opportunities based on your lifestyle and business goals.
- Save you money by educating you on anticipated costs, franchise fees, financing options and training.
What is our consultation process?
When working with with us, we first have you complete our Personal Franchise Assessment (PFA). The PFA was created by a behavioral psychologist specializing in psychometric profiling. This unique and sophisticated profiling system helps us narrow down the selection process from a few thousand franchise companies to only those franchise systems that are well-suited to your skills and goals. We will ultimately make the search process easier by supporting you through what may seem like an overwhelming process. There are over 3,100 franchise opportunities available and we can help you find the right one for you.
What is the cost of our services?
We provide our services at no cost to you!
FranNet of Oregon has pre-screened hundreds of available franchises in determining a select few that represent successful and dynamic opportunities for our clients. Again, there is no-cost for our services as we act like recruiters, where the franchisors pay our fees to find them people that will be successful franchisees. FranNet’s thorough process of matching individual talents with franchisor profiles ensures a high success rate. In the interest of success for all parties, we pair the right individual with the franchisor most suited to them and their goals with our Personal Franchise Assessment.
Why use a franchise consultant?
For most people, starting a business is a once in a lifetime event. It is essential to utilize available resources effectively and “get it right” the first time. FranNet uses an established matching process that helps connect an individual’s talents and goals with the right franchise to ensure a higher success rate. We act as your strategic advisor throughout the process to be certain you are making decisions based on facts and not speculation. Our goal is to educate our clients about many different business opportunities without having to go it alone.
At FranNet of Oregon, we provide our services at no cost to you so there is no need to go through this process alone!
What kind of franchises do you represent?
FranNet represents a wide range of franchises as diverse as the individuals who want to pursue business ownership. Franchising has many possibilities and is not just retail stores or french fries. Potential franchise owners are sometimes surprised to learn that franchises are available in such unexpected industries, such as management consulting, tutoring, senior care and pet care. In fact, there are several service based and business-to-business franchises that are extremely successful and recession-resistant. FranNet has pre-screened all represented companies and built relationships with only the best franchisors so you can select from the best opportunities.
How do I pay for a franchise?
Many financing options are available today such as cash, loans, IRA’s, 401(k)’s, CD’s, stocks and using equity. The cash needed to finance a franchise purchase varies depending on the type of liquid capital, the individual and the franchise being purchased. You will typically need $40,000 – $60,000 ready to invest with the ability to finance the rest. To receive financing it is best to have a credit score of 700 or better.
This all said, franchises are available at many investments levels and FranNet or Oregon can work with you to recommend franchises based on investment level as well as recommend sources for financing.
What are some of the benefits of franchise ownership?
There are a number of aspects to franchising that appeals to prospective business owners such as:
- Easy access to an established product
- Proven method of operating a business
- Training, support and advertising
- Reduced risk of opening a business
In fact, statistics from the U.S. Small Business Administration and the U.S. Department of Commerce show a significantly lower failure rate for franchised businesses than for other business start-ups. The franchisee purchases not only a trademark, but also the experience and expertise of the franchisor’s organization. However, a franchise does not ensure easy success. If you are not prepared for the total commitment of time, energy and financial resources that any business requires, you should revaluate your decision to enter the franchise ownership.
What factors should I consider when selecting a franchise?
Like any other investment, purchasing a franchise is a risk. When selecting a franchise, you should carefully consider a number of factors, such as the demand for the products or services, likely competition, the franchisor’s background, and the level of support you will receive. To read more on this topic, see our blog post here.
What is the Franchise Disclose Document?
The Federal Trade Commission (FTC) requires sellers of franchises and other business opportunity ventures to provide prospective investors with the information they need to make an informed investment decision. It also requires that all earnings claims be documented, that the information investors receive be complete and accurate, and that investors have adequate time to consider and evaluate the disclosures before making any final purchase commitment.
All required information is given to prospective investors in the form of a Franchise Disclosure Document, which must be furnished at least 14 business days before any purchase may occur. This document includes 20 important items of information, such as:
- Names, addresses and telephone numbers of other franchisees.
- A fully audited financial statement of the seller.
- The cost required to start and maintain the business.
- The responsibilities you and the seller will share once you buy a franchise.
- Litigation involving the company or its officers, if any.
- Again, use your professional support to examine all of these issues. Some of the contract terms may be negotiable.
How can I evaluate if I’m ready to be a franchise owner?
Perhaps your most important step in evaluating a franchise opportunity is examining your own skills, abilities and experience. The ideal franchisee is a creative, outgoing person who is eager to succeed, but must be able to balance his or her entrepreneurial initiative with a willingness to comply with the business formulas used by the franchisor. It’s important to remember, a successful partnership between franchisee and franchisor involves a mutual understanding of each other’s values and achievements.
Determine exactly what you want out of life and what you are willing to sacrifice to achieve your goals. Be honest, rigorous and specific. It’s also important to ask yourself how this decision will affect your family. Do they understand the risks and sacrifices required, and will they support your efforts?
Beginning a franchise is a major decision that does not ensure easy success, but working with a FranNet consultant can help you determine if becoming a franchise owner is the best next step for you.
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