Rather, they are required to have disclosure statements and franchise agreements, presented in a timely manner to prospective buyers, which meet certain criteria and expose pertinent facts and franchisor information. In addition, many states have their own registration laws, requiring, for example, financial statements for franchisees at least 10 business days before the sale is made. Fortunately for franchisors, states are becoming more uniform in requirements for offering circulars, which saves franchisors time and expense. To be successful as a franchisor, you must start with a unique concept. Then, you need a viable marketing plan.
Nothing is more important than sound planning.
The franchisor should bring in the best consulting help they can afford right from the start. Consultants will help in communications, public relations, sales and in establishing strong franchisee relations. Keeping franchisees happy and satisfied has practical benefits. When franchisors continue to expand and improve services and respond to franchisees' needs, franchisors build a tremendous sales force with their franchisees. There will be new successes bringing impressive financial rewards to those who will take a risk.