The most important point to remember is that this is going to be a process of mutual due diligence. The company is going to be looking at you and you are going to be looking at them to see if you want to be partners. For each of these opportunities that you have an interest, we will facilitate an introduction to an executive in that company. That executive will send and/or e-mail materials to help you become acquainted with their franchise opportunity. They will present to you their particular process and send you the Franchise Disclosure Document (FDD), which is a disclosure document for their franchise opportunity. This document is required by the Federal Trade Commission. The procedure will be different for a non-franchise business opportunity, and we will discuss that as needed. As Your Franchise Coach, we will have weekly calls so I can guide you every step of the way through your due diligence process.
These are the key areas you will be doing in your Discovery Process:
• Weekly calls with the development person and more if needed
• Review the System Documentation with the development person
• Weekly coaching calls with me
• Franchisee Calls (Validation)
NOTE: You should feel free to consult with an attorney and an accountant before making a final decision. It is important to ensure that any professional you retain has an excellent background in and understanding of franchising. If they do not, then the process may be more costly and time-consuming while they do their research.