Want to be your own boss? A franchise or business opportunity looks interesting, especially if you have limited resources or business experience
Franchise and Business
Want to be your own boss? A franchise or business opportunity looks interesting, especially if you have limited resources or business experience. However, you may lose a large sum of money if you don 't investigate a company before buying. The Federal Trade Commission 'Franchise Rule if the business opportunity requires sellers of franchises and business opportunities to provide specific information to make an informed decision.
Use the FTC Rule
A franchise or business opportunity seller must give you a detailed disclosure document at least 10 days before paying or legally committing to a purchase. You can use this information for a particular business with others, we can consider or just to compare information. The disclosure document contains:
Names, addresses and telephone numbers of at least 10 previous purchasers who live near you;
Completely financial statements of the seller;
Preparation and experience of the "frame company;
Costs of establishing and maintaining the activity and
the responsibility of you and the seller is to have each other, after having "invested in the opportunity.
If doesn 't seller will give you a disclosure document, ask why. Verify that the declaration of an attorney, work, or the FTC by calling its toll-free at 1-877-FTC-HELP (382-4357). Although the agreement is not legally obliged to provide a disclosure document, you can still just for your information.
For complete information
Before purchasing a business:
Study the disclosure document and proposed contract carefully.
Interview current owners in person. (They must be listed in the prospectus.) Their visit in person, you can help these people "paid shills" to give favorable reports. Do count on a selected list of reference for the company because they may contain cronies. ask the owners and operators how the information contained in the information document their experience corresponds with the company.
Review the statements about the potential gains. Some companies may claim that you "earn a certain income or that existing franchisees or business opportunity purchasers earn a certain amount. Companies, the representations of the profits, you have to do with writing the basis for their claims. Beware This does not seem of any company in writing as the result of the credit is calculated.
Sellers also you need in writing the number and percentage of owners who have done and, as they say to tell you. Keep in mind that the main complaints about the sales success of the company, a part of our industry 4000000000'Be $ ", for example, can not influence the probability of success. Also understand that you buy the company, it is possible with the franchise or independent businessmen are competing with more experience than you.
Shop around. Compare with other business opportunities in franchising. Some companies offer benefits not available from the first company that you visited. The Franchise Handbook, published annually by the Department of Commerce, U. S., describes more than 1,400 corporate and franchise offers. Contact those that interest you. Required disclosure documents and compare their offers.
Listen to the sales presentation. Some sales tactics should signal caution. For example, if you have to sign immediately "because prices will rise tomorrow" or "another buyer wants this company," to slow down. A seller does offer a good "t to use high-pressure tactics. The rule of the FTC, the seller has at least 10 working days after you expect the required documents before accepting your money or signature on a contract. Be careful when the seller makes the sound work too easy. The idea of "easy money" may be interesting, but success usually requires hard work.
Get the seller "s promises in writing. Verbal promises that you receive from a seller in the contract that sign is written. If the seller says one thing but the contract does not say anything about it or said something, it 's is the contract that counts. If a seller hesitates to write to be vigilant against potential problems and making verbal commitments to consider doing business with another company.
Consider professional counseling. Ask to see a lawyer or accountant consultant to the notification document and proposed contract. The money and time spent on professional assistance and research and current phone owners could save a bad investment decisions.
The Business Opportunity Fair in Chicago, the oldest fair / the compound in the customers of companies belonging to companies and government agencies committed to supplier diversity, will host the 44th Annual Exhibition April 18 to 20.
For Immediate Release
44 Business Opportunity Fair for Chicago with 18 to 20 April at Navy Pier
Annual event to connect to the opportunities that stimulate growth and MBE celebrated to contacts / contracts
CHICAGO, IL - With the unemployment rate reached a record level, entrepreneurship is the best gateway to success - especially for minorities, who are often the first to lose their jobs. However, if a job opens its doors, the challenge is to make room for useful links for companies that include both embracing supplier diversity and value of transactions with minority businesses.
This is the best path to success for minorities in Chicago Business Opportunity Fair (CBOF) held April 18, 19 e 20 will be at the Festival Hall "A" of Navy Pier. CBOF Minority Supplier Development Council, is in Chicago, whose president and CEO of Morgan Hill is sponsored Sheila.
CBOF, the oldest, the greatest show of supply in the nation dedicated exclusively to the development of partnerships between minority and majority stakes in companies and government agencies. Now in its 44 years CBOF as a catalyst for the creation of billions of dollars in contracts and opportunities for businesses owned by minorities, through its membership base of business and government customers served. The exhibition offers a series of activities whose sole purpose is to change the settings in which companies belonging to minorities committed before their products and services agencies, suppliers can introduce diversity.
This year's event is led by Winovation theme analysis, optimization and implementation - presenting sponsor Allstate is "more than a single sentence, is a strategy.".
Highlights of the three days of entertainment events:
Opportunities or MBE and buyers in a business environment to meet
or specific industry segments
or networking events that connect with prospects on which the decision makers in a relaxed
laboratories, or full of information, including the popular segment on how to make a right and a new seminar on how to grow the business success of media in social
or meetings, including the People's Business Forum on Speed
A lunch and awards ceremony of the Chicago Minority Business Enterprise Input Committee MSDC, where buyers are honored for their commitment to supplier diversity, sponsored
A gala dinner and dance
A sponsor or breakfast with a speech by a leader in business
The centerpiece of the exhibition event, where the man is currently their MBE
Products and services to meet the business opportunities and government
useful links and introduce new business opportunities.
Leading the event are the honorary president Susan Whiting, Vice President, Executive Vice President and diversity of end to end, The Nielsen Company. Co-chairs are Arthur Miller Zayas, President / CEO - MZI Group, Inc., and Brinda Bradley, Director - Supplier Diversity for The Nielsen Company. Juventino Cano, President - Cano Container Corporation, is chairman of the awards lunch.
In making the announcement, said Mr. Hill. "Small businesses are the lifeblood of the business and affairs of minorities is the segment made in this category of small business units through the contacts may CBOF, minority business owners manage their own business and reap the rewards, which represents the spirit business. CBOF The visit is the most practical way to commercial success for the abundance of opportunities to achieve the contacts with clients and knowledge under one roof and is in three days what it provides and because CBOF continues to enjoy great success. "
ChicagoMSDC members are invited to participate. Non-members may attend the fair with a one-day pass. For more information on CBOF 44, please contact Cynthia Jordan at 312-755-2555 or e-mail to cjordan@chicagomsdc.org. Join MSDC for more information on Chicago, visit their website www.chicagomsdc.org. Updates on the exhibition is available on Twitter and Facebook with the next.
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Chicago Minority Supplier Development Council on:
Mission ChicagoMSDC is the main organization to increase value-added business opportunities between major buying organizations and minority groups will be conducted. For over 40 years of service suppliers and purchasers of minority business in Chicago was the heart of Chicago MSDC network to meet business partners will be able to have and develop lasting business relationships. Today CMBDC partnership includes more than 200 private and public sector contracts and over 1,000 minorities out. Member of the Society CMBDC reported more than $ 3500000000 in annual purchases from minority businesses. MBE shall have to employ more than 90,000 workers reported each year.