While it is a good idea to get franchise ownership advice before you buy, you don't want to take it from just anyone. For example, a franchisor can provide advice, but it is sure to be biased, as he wants you to buy into his system. Instead, it may be a better idea to seek advice and guidance from an attorney, broker or consultant.
An attorney offers legal help, advice and representation to those involved in franchising. Some represent the franchisor, while others help the franchisee. An attorney can help you understand the legal considerations of buying a business opportunity, assisting you with understanding the Uniform Franchise Offering Circular (UFOC) and explaining contracts.
Seek Franchise Ownership Advice
A broker may also be well versed in the ins and outs of franchising, although he may not be as knowledgeable about the legalities of contracts. Brokers can offer advice about buying into business opportunities, but be careful. They do have an interest in having you purchase one of the businesses in their portfolios. Seek a broker who is reputable and doesn't react negatively if you are not interested in his initial suggestions.
A consultant offers advice and guidance about business ownership. Some may act as brokers as well. Typically, these consultants have a wealth of knowledge to share and can help you match your talents to the right business opportunity.
At MatchPoint Franchise Consulting Network, we offer free consultations and advice to those interested in franchise ownership.