Franchising 101
The primary barrier to expansion faced by today’s business owners is?
Capital
List one way to learn more about a franchise offering
Website
Broker Network
Portals
Trade Shows
Name 2 Loans that you can get to fund your franchise
401K Rollover
Conventional Loan
SBA Loan
Unsecured Loan
This concept is credited with creating the chicken wing
Anchor Bar
item 19
This franchisee is commonly more motivated to see the franchise succeed
Owner/Operator
This step in buying a franchise is the last step before making a decision
Discovery Day
Lenders like to see a minimum of what credit score
680
This franchise has a movie named after it called "The Founder"
Estimated Initial Investment (Total Investment)
Item 7
These 2 Documents are required by the FTC to be a franchise
FDD & Operations Manual
While filling out this piece of information. The franchisor may ask how much liquid capital you have or what locations you're looking at
Request for Consideration
Lenders will require you to have between how much of the total investment in cash
10%-30%
"We Have The Meats"
Arby's
Item 21
List the 2 cooling-off periods and when they are enforced
FDD Review 15 Days
FA 7 Days
You should consider traffic, competitors, and market saturation when selecting this
Territory
Name 2 important considerations when exiting
Top/Bottom Line Revenue
Timing for exit
How many units do you own
How’s the territory
Finding the right buyer
What will you do post exit
This company was the largest franchisee for Burger King and was recently bought out for $1 Billion
Carrols
This Item is for Territory requirements
Item 12
Registration States
Filing States
What are 2 things to consider when selecting a franchise
Territory Selection & Ability To Grow
Market Trends
Franchisor Support
Financial Capability
Personal Goals & Values
Burn Rate
This franchise used to be called St. Louis Bread Company
Panera Bread
This Item is where to find the Royalty/Ad fee
Item 6