International Law

3 Sites To Help You Find Unbiased Information on Franchises.

Here is a list of franchise websites worth visiting.

First up, is Meal Assembly Watch. Meal Assembly Watch is an interesting look at the meal prep industry. Asking such questions such as:

"So you still think meal assembly is a good idea? Do you somehow believe that one day you?ll be profitable? Are you convinced the market will change and customers will come back? Think I?m just a naysayer and the only who thinks meal assembly is a bad investment?"

Second up, Franchisepick. Sean Kelly writes this blog, along with a number of other sites.

One of the best features of Sean's site is the right hand blog lists of all the franchise systems that he has written about.

Great feature - no need to search for the franchise system you are interested in.

Finally, a blog from a franchise representative who is on the road, traveling around visiting franchisees.

Here is a sample of some due diligence advice:

"First, the franchisor can't tell you how much profit you will make. That varies a lot depending on many variables. It will be up to you to buy materials, pay employees, control general expenses etc, so corp doesn't know how much profit you will make. That will be up to you. So, ask the people that have been in business a few years about their profit. Does that number include paying themselves? What all are they including in their expenses?

Second, call EVERYONE in your region. Call the ones that have been in business a year, 10 years, EVERYONE. It is good to call people all over the US, but concentrate on the people who will be closest to you.

Three, ask to spend a day with a franchisee in your area. All day. If it isn't part of the buying process, then do it anyway. If it is a store or resturant, just hang out there observing. If it is a business where you can't go inside, like a Maid Service, then keep asking owners until you find someone who will let you."

I have added these websites to the specialized google search engine, designed especially for franchise due diligence.

Full post as published by Misleading Advertising Law on February 20, 2008 (boomark / email).