Special Report #113
©COPYRIGHT 2003 FGS – ALL RIGHTS RESERVED
Four Steps to Qualifying for and Evaluating a Franchise
1. Exploratory Meeting
Initial meeting to get to know one another
• Overview of how the franchise license process works
• Review key points of the franchise
• Complete profile questionnaire
• Review the power of franchising
• Understanding the industry
• Franchise support and systems
• Receive UFOC, license agreement and candidate evaluation
After Step 1:
Review UFOC, Agreement & Other Materials
Formulate Questions
Fill Out Candidate Evaluation
2. System Verification
Understand and confirm the franchise system and agreement
• Answer questions about license agreement of UFOC
• Review candidate evaluation form
• Review validation process
• Introduce support team (Generally by Conference Call)
After Step 2:
Validations with Franchisees
Formulate Additional Questions
Complete Short Business Plan
Review Documents with Professional Advisors (If Necessary)
Reserve Time for Location Visits
3. Verification of Support
Understand the franchise support system
• Review validations
• Review additional questions
• Visit stores and/or office
• Visit with support team (Discovery Day)
• Review terms of agreement
• Review business plan
After Step 3:
Formulate Questions
Finalize Review of Documents with Professional Advisors (If Necessary)
Review Business Plan, Agreement Terms
Review Potential Start Dates & Time Frames
Review Final Questions with License Advisor
4. Contract Signing
Receive final approval for franchise license
• Review any outstanding questions
• Upon approval of all parties, execute license agreement
After Step 4:
Begin Working with Market/Location Planner
Work Through Financing Arrangements
Set Date for Training
