What's Your Next?

https://www.NextLevelFranchiseGroup.com We are going to be looking at Item number 12 of the FDD, the Franchise Disclosure Document, what it’s about, and why it's important. If you have been following along we've done the previous ones Items 1 to 11. So please go back and check those out and learn what a lot of those have built up to some of these later items that we're getting into now. Item number 12 is really important for those types of franchises where there is a built-in territory,...

https://NextLevelFranchiseGroup.com HOSTS NAME: Laura Wagenknecht No one wakes up today and says "I want to buy a franchise." But many people are very curious about it. That's why Laura Wagenknecht, of Mosaic Business Consulting, interviewed Stacey Riska, CFC on her podcast "The Mosaic Life" to learn more about the franchise business model. A mosaic is a bunch of pieces and when put together, make up the whole in a beautiful way. This show dives deep into the things you'll want to consider...

https://NextLevelFranchiseGroup.com We are picking up where we left off before where we are reviewing the different items that are in the Franchise Disclosure Document (FDD). We've covered all the way up to Item 10 in our previous episode. So please go back and watch those if you get a chance. You'll learn a lot about Item 11 if you do that. We want to start with a disclaimer we are not attorneys, so you should seek professional legal advice in addition to what you're learning here today...

https://NextLevelFranchiseGroup.com We're continuing on in the Franchise Disclosure Document (FDD) and we're gonna be today looking at Item/Section 10, which directly relates to the financial arrangements of the franchisor and the franchisee. And this section is a little bit complicated in that when you go to acquire a franchise, you may get some financial benefits from the franchisor and you may be getting some benefits from a third party as far as financing to acquire your franchise. So...

When you're exploring business ownership, you're probably not thinking about health insurance. But you should be. You should also have a mission of HOPE: Helping Other People Everyday. Watch this episode of "What's Your Next" featuring Mark Brodinsky, The Inspirational Health Guy, and learn about: Emmy Award WinnerThat's what Mark Brodinksy, this What's Your Next Podcast episode's guest, will answer. Tons of nuggets in here. Get your pen and paper ready! To book your NO COST Dream...

“I hate doing bookkeeping.” “I don’t understand any of my numbers. “Taxes? Ugh I have no idea how to plan and leverage my business for tax advantages. Sounds familiar? Then you’re going to want to listen to this entire episode of “What’s Your Next?” feature Anne Gannon of The Largo Group. Anne’s story is so inspirational as she shares her journey of becoming a pro-golfer and then deciding her passion is “business” and “economics”. She ends up starting her own bookkeeping and accounting...

https://NextLevelFranchiseGroup.com We're going to be covering the basics of Item/Section 9 of the Franchise Disclosure Document (FDD). If you've been following along, we've been covering the previous items in the Franchise Disclosure Document and in Item/Section 9, it's an actually interesting item of the Franchise Disclosure Document in and of itself that it doesn't really give you a whole lot of new information that you're going to need to review. It is more like the table of contents to...

https://NextLevelFranchiseGroup.com Here were continuing with dissecting the items in the Franchise Disclosure Document (FDD) and we are reviewing the basics of Section/Item 8. We want to start with one clarification. One of our listeners actually made us aware of a correction that we probably should make, we've been referring in the FDD to the different parts of it as sections. The reality of it is one of those things that we’ve seen in different terms, but most people refer to them as...

https://NextLevelFranchiseGroup.com We’re covering another section in the Franchise Disclosure Document (FDD), and this one is a biggie … this is section/item number seven. This section/item is really where a lot of people spend a lot of time evaluating what their total investment is going to look like in acquiring and running this franchise on an ongoing basis. Previously we've kind of given you the framework for section/item five and section/item six. This is really giving you the...

https://NextLevelFranchiseGroup.com We've been covering the 23 sections/items that make up this legal document, the Franchise Disclosure Document (FDD), that you will review before you acquire a franchise. Specifically, we will be talking about section/item six, which is along the lines of expenses. It's really other fees and expenses in the operations of your franchise that you're looking to acquire. And as we noted in our previous podcast, it's a little bit gray between sections/items...

https://NextLevelFranchiseGroup.com We're going to be covering section/item five of the Franchise Disclosure Document (FDD), which is the initial franchise fee. These are the fees involved in acquiring the franchise, typically the franchise fees, advertising fees, and your royalties here. So essentially it's what are you going to put out of your pocket to the franchisor before you even get to the point where you're going to start operating. In section/item five it's going to be the upfront...

https://NextLevelFranchiseGroup.com We are still dissecting the Franchise Disclosure Document (FDD). These 23 sections/items of legal information are critical to making a decision about whether or not to acquire a franchise. We've been through the first three sections/items in previous posts so check them out. If you want to learn more about what the FDD is, and why it was created, go back to the first episode which kind of gives you the history and what it's really about. Now we are...

https://NextLevelFranchiseGroup.com We're continuing on from previous posts plowing through the Franchise Disclosure Document, also known as the FDD. As we mentioned previously there are 23 sections in this FDD. We are going to be reviewing one of the sections, Section 3/Item 3, which is truly what I consider to be very important, which is knowing the good standing of the franchisor that you're about to get married with and any litigation history of that franchise. So what are some of the...

https://NextLevelFranchiseGroup.com From our previous posts/episodes we've been reviewing the Franchise Disclosure Document, also known as the FDD. In our last post/episode, we covered section one, which had to do with the organizational structure of the franchisor itself. Today we're gonna be going and diving into Section/Item Two, which is about the leadership of the organizations. What’s in Section/Item Two might stand out from a franchisee reviewing an FDD? I like section two because...

The Franchise Disclosure Document (FDD) Item 1 Explained https://NextLevelFranchiseGroup.com From our last episode, we learned what is a Franchise Disclosure Document (FDD), and we learned the meaning of the Franchise Disclosure Document. What we're going to do in this episode is we're actually going to look at one of the sections/items, section/item number one and we're going to walk through and give you a little bit of information about what you would expect to find in this section in...

https://NextLevelFranchiseGroup.com We're doing these questions during due diligence in categories to keep things organized. Putting your questions in categories is something that you should make sure that you do in your due diligence as it is really easy to get lost in the phase of asking franchisees questions. If you don't have a very organized structure to these due diligence questions when you're asking them we really encourage you to try to keep them lumped together. We've done this...

https://www.NextLevelFranchiseGroup.com The temporary staffing industry is BOOMING! It's on track to generate a projected $185 billion in North America this year. Imagine yourself in a business that's ranked in the top 25 of Entrepreneur's Franchise 500 list! New offices average over $6.1 million in just their first two years, and mature offices averaging $6.7 million annually. (see their FDD for more details). Watch the replay below of this event and learn about how YOU can own a...

https://NextLevelFranchiseGroup.com We're going to cover the exciting topic of the Franchise Disclosure Document. What is a Franchise Disclosure Document? It's often referred to as the F D D, has a whole mess of Items (Sections) and is often a massive document. Before we dig in I'm going to start off with a disclaimer. We are not attorneys, and we highly recommend that you get and seek legal advice when reviewing this document. What we're going to be doing is just reviewing the FDD in...

https://NextLevelFranchiseGroup.com Today what we have on tap for you is just where does the franchise industry currently stand today as far as its breadth and depth. And I think what's really interesting about all of these statistics we're going to go through is the amount that they've grown in just a short period of time. Now I do want to disclaim a couple of things here. Number one, these franchise industry statistics come from different sources, including Entrepreneur Magazine and the...

https://NextLevelFranchiseGroup.com We're continuing on with the questions to ask franchisees during due diligence, and I'm going to ask Stacey three questions. She's going to answer as if she were a franchisee talking to another franchisee, looking at the current franchise that we run today. And she's also going to give you some perspective on why she feels. This is such an important question and maybe some add-on questions. How does the franchisor provide ongoing support? The franchisor...