Franchise information that is pertinent to your investigation is disclosed in the Uniform Franchise Offering Circular (UFOC).
Franchise information that is pertinent to your investigation is disclosed in the Uniform Franchise Offering Circular (UFOC).
The UFOC was a response to exploitation by unethical individuals and con artists in the 60’s and 70’s.
Franchises are regulated by law.
The FTC requires franchisors in every state to provide a UFOC. In addition, some states require that the offering must be first approved and registered by the state before it can be promoted to perspective franchise buyers.
Although the FTC requires specific franchise information be given to the prospective franchisee, note that the FTC does not check the franchise information and will not vouch for its accuracy. Nothing will take the place of your own investigative activities.
Some UFOC Tips:
• The financial statements of a new franchise system will probably not be very impressive, since they have no opportunity to establish a track record. In this case, concentrate more on evaluating the business concept and the management team.
• The UFOC is a great tool to learn specific franchise information.
• Review this document with your Attorney and Accountant.
• Two important questions that should be answered in the UFOC are: Is the franchisee obligated to buy any or all its supplies from the franchisor or from approved vendors? If not, do franchisee-chosen suppliers have to be approved?
• Most major points of the franchise agreement will not be negotiated by the franchisor, if there is something you are unclear request the franchisor clarify their position.
Franchise information that is pertinent to your investigation is disclosed in the Uniform Franchise Offering Circular UFOC - To learn more about this author, visit Jim Coen's Website.
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The Federal Trade Commission (FTC) requires each franchise to make full and frank disclosure regarding 23 key franchise information items the FTC deems important to any considering an investment in a franchise, that document is commonly referred to as the Uniform Franchise Offering Circular or UFOC.
The UFOC was a response to exploitation by unethical individuals and con artists in the 60’s and 70’s.
Franchises are regulated by law.
The FTC requires franchisors in every state to provide a UFOC. In addition, some states require that the offering must be first approved and registered by the state before it can be promoted to perspective franchise buyers.
Although the FTC requires specific franchise information be given to the prospective franchisee, note that the FTC does not check the franchise information and will not vouch for its accuracy. Nothing will take the place of your own investigative activities.
Some UFOC Tips:
• The financial statements of a new franchise system will probably not be very impressive, since they have no opportunity to establish a track record. In this case, concentrate more on evaluating the business concept and the management team.
• The UFOC is a great tool to learn specific franchise information.
• Review this document with your Attorney and Accountant.
• Two important questions that should be answered in the UFOC are: Is the franchisee obligated to buy any or all its supplies from the franchisor or from approved vendors? If not, do franchisee-chosen suppliers have to be approved?
• Most major points of the franchise agreement will not be negotiated by the franchisor, if there is something you are unclear request the franchisor clarify their position.
Franchise information that is pertinent to your investigation is disclosed in the Uniform Franchise Offering Circular UFOC - To learn more about this author, visit Jim Coen's Website.
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John PowerJohn Power, founder of Biltmore Franchise Consulting, has extensive experience developing and marketing franchises and business opportunities. He has been in and around franchising for over twenty years. From 1980 through 1990 he conceptualized, organized, and developed the American Video Association. He grew AVA to 2,000 national members, before selling the company it 1990. It was later merged into another home video marketing company. From 2000 to 2005 he worked as a contract marketing and human resources consultant to several local and national companies. In 2005 Mr. Power began working as a franchise development consultant on a full-time basis. Since that time he has helped more than three dozen companies initiate and develop their franchising program. He notes that there are many companies interested in developing a franchise program, and who need his specialized assistance. Mr. Power is a “hands-on” franchise consultant. He said, “I am the ‘nuts and bolts’ person who tends to the details for my clients.” Mr. Power holds a B.S. degree with a major in Marketing. See: www.biltmorefranchise.com You may contact Mr. Power at: jpower@biltmorefranchise.co - Visit John Power's Website |
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Anne BarrAnne Barr has over 26 years experience in sales and marketing, six years as a franchisee. She has assisted over 367 business owners and purchasers to achieve their goals in career change, transition and exit strategy. She holds the designation of Certified Franchise Executive from the International Franchise Association, Certified Business Intermediary from the International Business Brokers Association and Board Certified Broker from the Texas Association of Business Brokers. Anne is active in professional organizations, networking groups and volunteers for non-profit entities. As owner/operator of four successful businesses, Anne has proven people skills and enjoys helping clients find the right "fit" in business ownership. Visit www.FranchiseOpportunitySpecialist.com for more information about me and my company. - Visit Anne Barr's Website |
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John BrennanJohn Brennan Ed.D. Dr. Brennan is President of Interpersonal Development, LLC, a training and development firm. Interpersonal Development has provided sales training and coaching to more than 3,000 sales reps from over 100 companies. A native of Australia, Dr. Brennan received his doctorate from the University of Rochester. His dissertation researched the effectiveness of Behavioral Modeling Technology in training people in interpersonal skills. While he has spent most of his career designing or delivering training, he was also a Vice-President of Sales of a training and development franchise with operations in 25 markets. Dr. Brennan has designed and delivered sales training in North America, Asia, Europe, Australia and the Middle East. He has been a guest speaker at numerous national and regional professional conferences. When Microsoft wanted Best Practices articles on sales for their web site, they called Dr. Brennan. The results are at http://office.microsoft.com/en-us/FX011387391033.aspx His firm’s clients have included Volvo, The Prudential, Merrill Lynch, Eastman Kodak, Gannett, Equifax Europe, the Economist Group and countless small businesses. - Visit John Brennan's Website |
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Jay Kubassek(Jay's Full Bio: EvanCarmichael.com/jaykubassek) In five years, Canadian-born entrepreneur Jay Kubassek went from selling mufflers at a Midas franchise to revolutionizing Internet marketing with the 2004 launch of CarbonCopyPRO, a online marketing education company, now worth over $20 million with customers in over 160 countries.
As an independent film producer, his upstart film fund Aliquot Films is currently producing a films with Spike Lee and Abel Fererra (starring Ethan Hawke and Dennis Hopper.)
Jay's entrepreneurial spirit is irrepressible. He’s the owner of five companies, a professional speaker and trainer, international real estate developer/investor, extreme sport enthusiast and emerging philanthropist. Jay resides in NYC with his wife Jamie, son Milo and dog Cooper. Visit Jay's official website: www.JayKubassek.com - Visit Jay Kubassek's Website |
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John AlexanderJohn has taught keyword research and SEO skills to small groups of business owners and Webmasters from over 80 different countries world wide since 2002. John is also the Director of Search Engine Academy ; Co-director of Training at Search Engine Workshops offering live, SEO Workshops with his partner SEO educator Robin Nobles, author of the very first comprehensive online search engine marketing courses at SEO Training Online and the SEO Workshop Resource Center. I look forward to hearing from you! - Visit John Alexander's Website |
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Cheryl MatthynssensCheryl is a life skills coach, licensed Chemical Dependency Counselor and a 20 year entrepreneur. Cheryl's dedication to achieving a life of balance led to her expanding her teaching from the simple managing of life's daily challenges to adding financial well being as well. A direct marketer with DrinkACT, she is gaining ground in the online community with her concepts of making sure business owners, entreprenuers and employees have well rounded life styles. She opened up a small affiliate site - The Balance Guide- to help others find resources for mental and emotional well being. Visit Cheryl's blog to see more of the diversity beyond business she has began offering online at www.thebalanceguide.blogspot.com - Visit Cheryl Matthynssens's Website |
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David BarrDavid Barr is the President of Venture Opportunities, Inc. David has been a professional business broker/intermediary since 1980 focusing on General Business Brokerage and Mergers and Acquisitions representing client transaction value from $400,000 to $20,000,000. Mr. Barr has handled the sale of over four hundred and fifty companies. David earned a university degree from the State University of New York majoring in economics and business. David holds the Mergers and Acquisition Master Intermediary and the Certified Business Intermediary designations from the International Business Brokers Association. He is also a Senior Business Analyst and a Texas licensed Real Estate Agent. For more information about David and Venture Opportunities, visit www.bizdealmaker.com. - Visit David Barr's Website |
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For an online Car Loan Calculator and finance for a cheap car loan. Get approved on car loans or car finance in Australia with cheap bank car loans and finding a car finance broker. Commercial car loans including business car finance and car lease. Car Loan Calculator has information on finance companies and getting the right cheap car loan from banks at best car loan rates and a online car loan calculator for all finance in Australia. Get the best car finance with our help at Car Loan Calculator and Finance Ezi. - Visit Richard Jefferies's Website |
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