We've already discussed franchises here on Transaction Talk, but there's just so much information to cover that we've decided to revisit franchising today (and honestly, we just love talking about it!) So today, we'll be defining what a franchise is, the various franchise options that are available in today's market, and so much more. We are joined by the illustrious Greg Mohr, a franchise consultant who combines his experience as a business owner to help his clients find their best franchise options. First, Greg defines "franchise" and explains why franchising may be a better option for you than starting a business. Then, we unpack the questions that prospective franchise buyers should be asking, how to find information on other franchisees, the characteristics of a good franchisor and their role in the success of their franchisees, and the importance of conducting comprehensive research before signing on the dotted line. To end, we explore common franchising mistakes and how to avoid them, the ins and outs of an area development agreement, why franchise attorneys are an essential part of the process, and a reminder to be thorough in your due diligence.
Key Points From This Episode:
Tip of the day: Visit the SCORE chapter in your area!
Links Mentioned in Today’s Episode:
Greg Mohr Phone Number: 361-772-6401
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