If you’ve been investigating franchise opportunities for a while, you know how much information gets thrown your way.
Even the most organized people can get overwhelmed during the franchise searching/researching/purchasing process.
But here’s the thing; the information being sent your way is kind of like the appetizer portion of a fancy 4-course dinner.
“A small portion of a food or drink served before or at the beginning of a meal to stimulate the desire to eat.”
“Any small portion that stimulates a desire for more or that indicates more is to follow.”
Example: “The first game was an appetizer to a great football season.”
“But Joel, what does this have to do with the franchise fee?”
You’re Only Getting Limited Information
When you work with a franchise sales representative, the information she’s sharing with you is important. You’ll definitely be able to learn enough about the franchise concept you’re investigating to get a good idea of what the business does, the total investment amount and more. But there’s something you won’t get…something you can’t get. Yet.
A gentle tip from The Franchise King®:
Do not buy a franchise until you know EXACTLY how to do thorough research.
Learn how here
Can you guess what it is I’m referring to?
C’mon. Try harder. Want a hint?
Do you remember back in the day when the KFC recipe was considered a “closely guarded secret?”
Well, The Recipe is the thing you won’t get.
It’s also the thing you can’t get.
Until you pay the Franchise Fee.
As a matter of fact, you won’t get much of anything until the Franchising Fee is paid-and the franchise contract is signed.
And it’s when those two things are done that changes everything changes.
Because you’ll be the proud owner of a franchise business.
For more information on the Franchise Fee, including costs etc, read this article. (I wrote it for the U.S. Small Business Administration.)