Business Advice Needed

[Cultcha]

I am looking to purchase a small business franchise. I would rather not go the franchise route at all but unfortunately the product and service I want to provide is owned by a company that has sole rights to it.

My question is this. Before they can give me any real info regarding franchise fees etc... they want me to fill out a confidentiality agreement (understandable) but they also want to have me fill out a franchise application.

One of the questions on the application is how much assets I have (minus my home). My worry is that they will use the amount of assets I have to set the franchise fee. So say if somebody put down that they have $50,000 assets maybe they will charge them $30,000 for a franchise fee. But if somebody else put down that thy have $700,000 in assets maybe they will charge $400, 000 in franchise fees.

This is my first bid at purchasing a franchise so I really am quite green at this. Also, are franchise fees negotiable?

Anybody have experience in such matters?

[sistactry]

Re: Business Advice Needed


sound like biggg tings a gwaan fe u bredren, God bless, and biggguppp

[Gen]

Re: Business Advice Needed

shouldn't the franchise fee be the same across the board for anyone ? and non-negotiable (generally speaking)

from what I understand your assets (amount and type of) determine whether you qualify for the franchise or not

and this information (fee) should be already available on the internet if you dig deep enough

[Gen]

Re: Business Advice Needed

entrepreneur magazine is good to read


entrepreneur.com

is the site

[Cultcha]

Re: Business Advice Needed

Thanks Sistah Ctry. I am just starting on this journey.

Gen, I have searched but I guess because of the confidentiality agreement there is little or no info regarding fees.

I almost feel like telling them to show me their fees first and then I'll show them my assets. I just hope that is generally acceptable when it comes to doing business.

[Cultcha]

Re: Business Advice Needed

Thanks Gen. I'll check out those links for sure.

[sistactry]

Re: Business Advice Needed

u cant google it??

[Cultcha]

Re: Business Advice Needed

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: SistaCtry</div><div class="ubbcode-body">u cant google it?? </div></div>

I have, and I have read a few different experiences people have had with other franchise opportunities. Honestly, I am more confused now than I was initially. I was just looking to see if someone had gone through this here and perhaps had some time to drop me some hints.

[Gen]

Re: Business Advice Needed

yuh always a hot up yuhself fi no reason. sometime yuh haffi know how fi slick enuh otherwise

here's what you do then.

fill out 2 diff applications with diff assets info and this way you will get the answer yuh looking for.

if you have to meet with them in person before they give you the application, then get one of your friends to do a fake meeting and you fill out the other application.

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: KF_Milo</div><div class="ubbcode-body"><div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: SistaCtry</div><div class="ubbcode-body">u cant google it?? </div></div>

I have, and I have read a few different experiences people have had with other franchise opportunities. Honestly, I am more confused now than I was initially. I was just looking to see if someone had gone through this here and perhaps had some time to drop me some hints. </div></div>

[Cultcha]

Re: Business Advice Needed

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Gen</div><div class="ubbcode-body">:

here's what you do then.

fill out 2 diff applications with diff assets info and this way you will get the answer yuh looking for.

if you have to meet with them in person before they give you the application, then get one of your friends to do a fake meeting and you fill out the other application.
</div></div>

Now that is some great advice. Thanks Gen. That is exactly what I will do.

[sistactry]

Re: Business Advice Needed

but no only one social number u we have???

good luck Milo

[Stormmey]

Re: Business Advice Needed

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: SistaCtry</div><div class="ubbcode-body">but no only one social number u we have???

good luck Milo </div></div>

but sista u dont see he is going to have one/two of his friends fill out the application then based on this he will make his move

[sistactry]

Re: Business Advice Needed

yeah....but on de app u no haffe put ur ss#

me no know yaa, dem muss know

[Gen]

Re: Business Advice Needed

you should also let them know that by filling out the application you are not giving them permission to run any kind of <span style="text-decoration: underline">credit check</span> on you. your application is just for informational purpose since you haven't fully made up your mind about whether you want to go ahead with the franchise or not.

good luck

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: KF_Milo</div><div class="ubbcode-body"><div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Gen</div><div class="ubbcode-body">:

here's what you do then.

fill out 2 diff applications with diff assets info and this way you will get the answer yuh looking for.

if you have to meet with them in person before they give you the application, then get one of your friends to do a fake meeting and you fill out the other application.
</div></div>

Now that is some great advice. Thanks Gen. That is exactly what I will do. </div></div>

[Cultcha]

Re: Business Advice Needed

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Gen</div><div class="ubbcode-body">you should also let them know that by filling out the application you are not giving them permission to run any kind of <span style="text-decoration: underline">credit check</span> on you. your application is just for informational purpose since you haven't fully made up your mind about whether you want to go ahead with the franchise or not.

good luck

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: KF_Milo</div><div class="ubbcode-body"><div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Gen</div><div class="ubbcode-body">:

here's what you do then.

fill out 2 diff applications with diff assets info and this way you will get the answer yuh looking for.

if you have to meet with them in person before they give you the application, then get one of your friends to do a fake meeting and you fill out the other application.
</div></div>

Now that is some great advice. Thanks Gen. That is exactly what I will do. </div></div> </div></div>

Again, great advice! Thanks!