The A to Zs of Buying a Franchise

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After The Franchise Expo. What Now?

So after attending the franchise expo, what do you have?

A lot of questions, in spite of a bag full of literature that you carried home. You can't possibly process all the information that you heard from franchisors, seminar leaders, attorneys, and moneylenders, but you know there's something in it for you.

Buying a franchise can change your life for the better, if only you make the right decisions.

So what do you do now?

Why'd You Go To The Expo?

Post-show fatigue is a real phenomenon. It's the result of too much information in a short period of time. Many people, because they don't know what to do, do nothing at this point. Others promise themselves that they'll review their notes and that bag full of literature, but they never do. Consequently, many people miss out on making a decision that could, in fact, change their lives for the better. Granted, it's important to understand what you're doing if you buy a franchise, but isn't that why you went to the franchise expo? Or did you go for the free food?

If you're immobilized after a franchise expo, the good opportunities may pass you by. Sure, there's always another expo, and another opportunity, but that's what most people think - and most people don't buy franchises.

Five (+1) Steps To Help You Now

If you believe that franchising makes sense for you, and you want to come to grips with a decision to buy a franchise (and overcome post-show fatigue), here are the steps to follow:

  1. Select your favorite brands. Of the franchise brands that you discovered at the expo, which two or three do you remember as potential opportunities for you? Keep whatever information you have about those brands and set the rest of the information aside.
  2. List your questions. What do you need to know to make a decision about buying one of the brands you identified above? Make a list of the questions.
  3. Validate the franchise. Not sure if you're looking at a legitimate franchise opportunity? Stop worrying. Contact the International Franchise Association at 202-628-8000 or online. Is the brand a member, or at least identified as a franchise by IFA?
  4. Attend a Discovery Day. This is the easiest and the best way to get your questions answered efficiently. Almost every franchisor sponsors a free information day. Ask for an invitation and don't worry: attending a Discovery Day does not obligate you. This is an opportunity to meet the people who operate the franchise and learn more from them.
  5. Visit a franchisee. Talking with a franchisee may help you take the next step to buying a franchise. An existing franchisee can help lead your way.
  6. If all else fails, there's one final step: Visit another expo and start all over again.

Attend America's Favorite Franchise Expo

To that end, you should know that America's favorite franchise expo, the International Franchise Expo, is set for June 18-20 at the Javits Center in New York city.

You can register for free.

You may be interested in attending my symposium, The A to Zs of Buying a Franchise - it sells out every year - so buy early. Learn details here

For the 5 Most Fascinating Stories in Franchising, a weekly report, click here & sign up.

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