Franchising Your Business: The Pros And Cons – Episode 2 – Part 1
Do you know everything that you need to know about starting a franchise? Are you about to purchase franchise? Do you know all of the rules and regulations associated with starting a franchise? In this episode, this is coach Clay Clark breaks down the specifics of what the pros and cons are for operating a franchise. The metaphor that he is interviewing is Terry “Boom Boom” Powell who started The Entrepreneur Source which brokers franchises for Business owners and investors. He is a wealth of knowledge about what you can and cannot do for franchising business. In this particular episode, the two of them get into the specifics of what it means to be government regulated and compliant when either buying or selling a franchise. Because the Federal Trade Commission regulates all franchises that are bought and sold, there is a set of levels that you must follow. This was a part of former Pres. Obama’s policy that he implemented while in office. However, the government did it to protect people who were wanting to buy a franchise. There are unnumbered business business systems that you must include as part of the franchise disclosure document and operating agreement for your franchise. If you were willing to sit down in detail out all of the specific action items that you must include for getting a franchise legal documents completed, then you have a chance to be very very very successful. When you were creating legal documents for franchise, you can expect to pay anywhere from between $100,000-$500,000. If you want to know more about franchising a business, make sure that you tune into the other episodes here on the website. Also, make sure that you sign up for our upcoming business conference, and sign up for a free business assessment for your business to receive one-on-one business coaching.