Joel Libava
(Image courtesy of MFV Expositions)
Sure you can. There are lots of ways to find a franchise to buy. A live event like a franchise expo can be a great place to learn about available franchise opportunities in your area.
But, you have to know what to expect at a franchise expo.
What Happens At Franchise Expos
Some hawking for sure.
The definition of hawking -used as a verb: to peddle or offer for sale by calling aloud in public.
Hawking does take place at franchise shows. I know because I’ve attended them…I’ve even participated in them, including a couple of New York City business expos.
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But, are franchises actually sold at franchise shows? Not to my knowledge. Plus, they can’t be. It’s against the law.
From The Code of Federal Regulations
Disclosure Requirements and Prohibitions Concerning Franchising
It is an unfair or deceptive act or practice in violation of Section 5 of the Federal Trade Commission Act:
For any franchisor to fail to furnish a prospective franchisee with a copy of the franchisor’s current disclosure document at least 14 calendar-days before the prospective franchisee signs a binding agreement with, or makes any payment to, the franchisor or an affiliate in connection with the proposed franchise sale.
Go here to read the entire code.
In other words, franchise representatives cannot sell franchises at franchise expos because the required 14-day waiting period couldn’t take place. So, don’t worry; you can’t and won’t be pressured into buying a franchise at a franchise expo. But, you may be encouraged to attend a more formal meeting either live or via phone at a later date. You can if you want. It’s your choice.
Having said that, generally speaking, the days of high-pressure franchise salespeople are over. The massive amount of real information available to those with an internet connection have changed the game. Today’s consumers are better educated about franchising than ever before.
Franchise Expo Tip:
Check out franchise opportunities that you’re not interested in before you leave the show.
Here’s why; life is full of surprises, and you should have somewhat of an open mind when you attend a franchise expo. There are lots of opportunities in franchise business ownership that could end up being perfect for you–ones that you never heard of, or thought of investigating. For more tips on attending a franchise expo, read this article so you’ll have the upper hand.
Can You Find A Franchise To Buy At A Franchise Expo?
You can definitely find franchise opportunities that you may end up buying at a franchise expo.
But, don’t be unrealistic. There will be a lot of franchise opportunities and business opportunities (which are a different beast altogether) to check out. Some franchise expos have several hundred exhibitors.
The differences between franchise opportunities and business opportunities explained.
Take your time. Look around. Talk to other attendees. Attend the free seminars. Get educated.
About the Author
Joel Libava is The Franchise King® — an independent franchise advisor with 25+ years in the industry, two published books on franchising, and his writing has been featured in The New York Times, Forbes, CNBC, Entrepreneur® Magazine and others. In addition, he wrote exclusively for the U.S. Small Business Administration blog for eight years. He doesn't sell franchises. Instead, Joel helps you figure out if franchise ownership is actually right for you — and if it is, teaches you his powerful, proven-to-work franchise research techniques, so you can make a smart, informed decision on a franchise to own and be your own boss.
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