Frequently Asked Franchise Questions by Paul Connell, Peerless Franchises, LLC

Why should I use a franchise consultant or "Coach Approach" instead of dealing with franchise companies directly?
You'll save time, money and potential aggravation…and my consulting services are free to you. Your franchise fees or purchase price will not be greater if you use my coaching services. I provide all the information you need to find the opportunity that fits your goals, plus I already know many of the safest, strongest and most lucrative franchise opportunities in business today, a task that can take months for someone outside the industry. In today's unstable economy, there are a number of recession-resistant franchise businesses. I'll help you find one that meets your needs.

How can a franchise consultant or coach offer services for free?
You, the consumer, pay nothing for the services I offer. This is because I'm paid fees by franchisors who respect the processes I follow and who recognize the quality and fit of clients I refer to them after my consultation is complete. You pay exactly the same fees with any franchise company or opportunity seller, whether you work with a consultant or not. But as a franchise coach, I'm uniquely able to provide a win-win scenario for both parties I work with.

How will you help me find the best franchise opportunity for me?
My goal is to find an opportunity that will meet the specific needs of each individual I work with. To do this effectively, I first have to learn what those needs are. Therefore, I'll ask you a series of detailed questions, such as:

• What are your reasons for wanting a business of your own?
• Have you ever owned a business?
• What hours do you like to work?
• Where do you want your business to be located?
• How do you feel about managing people?
• How much capital do you have available for starting a business?
• Will you have partners?
• Do you want to build multiple units?
• How soon do you want your business to open?
• Will you be involved on a full-time or part-time basis?
• Will your family be involved with the business?
• How important is a flexible schedule and work/family balance?

These are just a few of the many issues I'll discuss with you over the course of our consultation process together. With this information, I can create a personalized profile and model for you to use in evaluating opportunities.

Consider that sorting through the over 6,500 franchise opportunities can be a long, confusing and overwhelming process for you. In fact, many people spend months sorting through companies without ever finding an opportunity that has what they really want in a business. That's where I come in!

I've done a lot of homework for you. I have pre-screened hundreds of companies from all business areas. This makes it fairly easy for us to home in on the perfect fit for you.

Why buy a franchise?
Franchising provides you with the opportunity to be in business for yourself, but no by yourself. The franchisor (franchise company) supports you in every aspect of the business. They'll teach you what works and help you avoid or quickly resolve any problems.

Prior to you opening a franchise business, the franchisor provides extensive training and support so you're well prepared to handle whatever comes. They can also provide advertising and marketing support to help you quickly build your business. The most significant benefit to franchising is the reduced level of risk. This comes from a franchise system's brand recognition and proven method of doing business.

How do I finance a franchise purchase? Is assistance available?
Financing can be a major hurdle for any potential franchisee. Startup costs can reach a high level, and it's essential that the franchisee has adequate working capital. It's important to address any financing issues during your investigation of franchise opportunities.

The best source of information about financing options is the franchisor. Once again, we're dealing with an issue that the franchisor has addressed numerous times with other franchisees, and they'll have a good deal of information about the practical options available.

I also have a list of recommended franchise resources for your convenience.

What is an FDD or UFOC? (Franchise Disclosure Document or Uniform Offering Circular)
This is the disclosure document the Federal Trade Commission requires every franchisor to provide the prospective franchisees before they purchase a franchise. It provides valuable information a person will need prior to making their purchase decision, including required fees, initial investment, failures, litigation, company history, etc. This is a very useful tool that needs to be thoroughly examined during the investigation process.

How soon can I get my business started?
This depends almost completely on you. The franchise consultation process can be completed easily within a few days if you're responsive and motivated. After you begin investigating opportunities, you may find a great match within one to three months. After you select the right business for you, it will typically take anywhere from 1 to 6 months for your business to open for operation.

Will my personal information be sold?
The answer is no. The information you provide me is confidential and will only be seen by me and any business you decide to investigate further.

When will you send my information to a franchisor?
Only after you have requested and approved such a submission.

How much cash do I need?
I can show you a wide variety of affordable franchise opportunities that have initial investments as low as $15,000. It's important to note that the investment required in any franchise business is often not a good indicator of the returns available. In any case, the most important requirement is that the franchise business fits your needs and goals. The business concept can cost $1,000 or $100,000, but the only way to know if it's the right opportunity is to match it against your personal interests, skills and wishes.

Do I need experience in a particular industry to successfully run a franchise?
No. In fact, most companies are looking for people with no experience in that industry. This is because they want their business operator to focus on running the businesses and not performing the labor their concepts require. Franchisors need people who can be effective in motivating employees, generating sales, and running the day-to-day operations as effectively as possible. The franchisee role is typically one of management rather than laborer.

Ready to find the right franchise for you?
Contact us now for a FREE initial consultation to discuss your franchise opportunities and best franchise for you.

Remember, my services are FREE!