News of the week :
 | July 27 2010 Priszm Income Fund (TSX: QSR.UN) ("Priszm" or the "Company") today announced that it has retained Genuity Capital Markets ("Genuity") to lead the Company's strategic refinancing review. As previously announced, Priszm initially sought financial exper... Get more info here ... |
| July 23 2010 Certified Bookkeeping Service for Small to Mid-Size Businesses Kicks Off Canadian Expansion through Licensing THUNDER BAY, Ontario – Established U.S. bookkeeping franchisor, BookKeeping Express (BKE), the first franchise of its kind focused so... Get more info here ... |
| July 23 2010 Retail sales edged down 0.2% in current dollars to $36.0 billion in May, as lower sales were reported in 6 of 11 subsectors. Sales in volume terms increased 0.4%. Retail sales have been following an upward trend since the beginning of 2009. Retai... Get more info here ... |
 | July 23 2010 Extreme Pita Jul 21, 2010 18:44 ET Canadian Franchisor Signs First International Agreement in Muscat, Oman; Launches Aggressive International Expansion Initiative MISSISSAUGA, CANADA--(Marketwire - July 21, 2010) - A revitalized take on the ... Get more info here ... |
 | July 23 2010 Jul 23, 2010 07:00 ET GLENDALE, CA--(Marketwire - July 23, 2010) - DineEquity, Inc. (NYSE: DIN), parent company of Applebee's Neighborhood Grill & Bar and IHOP Restaurants, today announced that it has entered into an asset purchase agreement wi... Get more info here ... |
 | July 23 2010 Pizza Pizza Limited Jul 23, 2010 07:00 ET TORONTO, ONTARIO--(Marketwire - July 23, 2010) - Pizza Pizza, Canada's national pizza purveyor, has weighed anchor in its East Coast expansion voyage with the opening of the first restaurant serving downt... Get more info here ... |
 | July 19 2010 TSX: RON RONA Inc. Jul 14, 2010 08:00 ET New Torbay Road store to qualify for LEED certification ST. JOHN'S, NEWFOUNDLAND AND LABRADOR--(Marketwire - July 14, 2010) - Editors Note: A photo for this release is available via Marketwire's web... Get more info here ... |
 | July 19 2010 SOURCE: Rocky Mountain Chocolate Factory, Inc. Jul 13, 2010 08:30 ET Diluted Earnings per Share Rise 25.0% to $0.15 DURANGO, CO--(Marketwire - July 13, 2010) - Rocky Mountain Chocolate Factory, Inc. (NASDAQ: RMCF), which franchises gourm... Get more info here ... |
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5 Tips for Investigating a New Business Opportunity
The success rate of a typical franchise business opportunity is much higher than the success rate of most start-ups. However, you have to investigate the franchise business opportunity you're considering thoroughly to ensure that it is reputable, financially sound, and suitable for you. Here are 5 tips that will help you determine whether a franchise business opportunity is worth your time.
1. Learn as much as possible about the business opportunity and the company behind it.
Before you invest in a franchise business opportunity, learn as much as possible about it through online research. Visit various blogs and franchise information websites that compare and discuss several franchise opportunities. Furthermore, visit online forums where franchisees share their experiences.
In addition to researching the business opportunity itself, get to know the company behind it. Find out what the company's goals are, their experience level, and how many franchises they have. Moreover, determine whether the company is financially secure and if they offer sufficient support to franchisees.
2. Talk to franchisees.
Talk to franchisees, not the staff of company-owned outlets. Visit a few franchisees in your local area in person, so you can talk with them about their experiences and observe how the franchise operates.
Ask the franchisor to provide you with a list containing the contact information of at least 10 previous purchasers in your area. After speaking with several franchisees about the business opportunity, compare their statements with the information that the franchisor has given you regarding potential earnings, franchisee and franchisor responsibilities, start-up and maintenance costs, etc.
3. Compare different opportunities.
Investing in a business opportunity is no different from investing in any business venture. You have to shop around and compare different opportunities to ensure that the one you ultimately select is a good fit.
4. Seek professional advice and legal counsel.
Unless you're a seasoned businessperson, you're better off hiring a lawyer, accountant, and business advisor to help guide your decisions and go over the terms of the contract. Hire an attorney who specializes in franchise law so he or she will be better equipped to evaluate your franchise package. An accountant can determine the complete costs of purchasing and running the franchise in addition to assessing the profits you can potentially make. It's far better to spend the time and money necessary to help you make the right business decisions in the beginning rather than suffer a major loss down the line as a result of selecting the wrong business opportunity.
5. Examine the attitude that the franchisor has towards you.
When you talk with franchisors about their business opportunity, take the time to examine the attitude they have towards you. Do they seem eager to build a long-term relationship with you, or do they seem like they just want to collect the initial fee and run? Avoid working with a franchisor that seems rushed to get you to sign the contract, and take at least 10 days to review the contract and other required documents. Make sure that the contract's terms mirror what you were told in the initial sales pitch.