Help in Buying a Franchise

 

The decision to buy a franchise will, for most people, be one of the most important decisions of their lives. This decision can yield realization of a life long dream or, for an unlucky few, it can spell financial disaster. Clearly, this decision should be made very carefully and with professional help if possible. There is a little known secret in franchising that can be of inestimable value to you in your search. That well kept secret is an international network of franchise professionals called Frannet, which was founded about ten years ago by Howard Bassuk. Howard saw a vacuum in the franchise industry in that there was really no one helping people find the right franchise.

He began to offer a free service to people who were serious about going into business for themselves. The services consisted of providing information about franchising, taking the prospective franchisees through a process during which they created a model or a profile of the type franchise that would be a good match for them, then Howard would suggest that they look at a number of franchise opportunities which fit their model, and finally he would provide them with a system to research the franchises that they wanted to look at closely and possibly buy. Over the years this service provided by Frannet has been polished to near perfection. Franchise professionals from all over the country and the world have joined the Frannet association, and today Frannet has offices in over 60 cities and 5 foreign countries.

Frannet has screened hundreds of Franchise companies and knows from direct involvement in the industry on a daily basis which franchises are a good investment and which are not. Frannets service is educational, and match making in nature. The Frannet process works very much as follows:

1. The Frannet Associates are the definitive experts on franchising in their communities and spend considerable time educating people about the benefits of franchising. They are constantly holding franchise seminars at outplacement firms, and seminars which are open to the public. In addition they work with military outplacement sections and with small business development centers.

2. After becoming aware of the Frannet services, an individual who is seriously considering going into business for themselves goes to the Frannet office nearest to them and meets the Frannet Associate.

3. The Associate provides the individual with important information about the franchise industry, how franchising works etc, a sort of Franchising 101.

4. The Associate takes the individual through a process which builds a model for the type franchise which will be a good match for them.

5. The individual is given information, brochures, and shown videos of a number of franchises which fit the individuals model.

6. Finally, the individual is given a systematic method to research any franchises that they are interested in looking at closely. The beauty of the Frannet service is that there is no attempt by the Associate to sell the individual on any particular franchise and further that the service is absolutely free.

Over the years the Frannet franchise selection committee has researched hundreds of franchise companies and has accepted about 70 that they will recommend to their clients. The franchises vary in investment from $20,000.00 to over $200,000.00, and interestingly enough some of the lower investment franchises yield very good incomes. If a client buys a franchise from any one of the franchise companies that Frannet has a relationship with, then the Frannet Associate is paid a finders fee by the company. This in no way affects the franchise fee paid by the client. The Frannet services are free and the individual pays the same franchise fee regardless. Frannet is a preferred provider for the American Association of Franchisees and Dealers, AAFD.

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