Though there are many legitimate, low-cost franchise opportunities available, there are often nearly as many scams to avoid. Your success as a business owner starts with distinguishing a good opportunity from a sham.
Some scams are obvious. For example, if you see an ad that promises you thousands of dollars per week, a loyal customer base and free marketing materials with no investment, you’ll probably know to steer clear. However, other available franchise opportunities may actually sound legitimate, even though they are just as seedy.
Available Franchises: Avoiding Scams
Here are some ways to avoid scams as you compare available franchise opportunities:
- Stay away from marketing that promises something for nothing.
- Ask for earnings information in writing.
- Always read the franchise disclosure document.
- Request contact information for current franchisees and ask them about their experiences with the opportunity.
- Contact the Better Business Bureau to learn whether the company has negative reports.
- Enlist the help of a franchise consultant or attorney who can help you decipher the opportunity’s small print and gauge whether or not it is something worthy of consideration. A consultant can also refer you to legitimate businesses for sale.
Here at MatchPoint Franchise Consulting Network, our number-one goal is helping prospective franchisees avoid scams and referring them to legitimate opportunities that meet their needs. We specialize in matching individuals like you with opportunities that meet their goals, interests and talents.
We also offer free online education modules that cover a range of topics important to franchisees, including marketing, customer loyalty and business growth.
Through consulting and training, Franchise Research Corp can build a custom tailored program..More
Between 2004 and 2005 over 300 new franchise concepts were launched in the US.
In today’s high growth franchising industry, 1 new franchise opens its doors every 8 minutes of every business day.
The execution of business requires a strategy and top talent.