Franchise Information Sources Michigan

I want to use a systematic process to evaluate franchise opportunities. What are the best sources of information I should examine to make sure I make a good decision about which franchise to select?


1 . Local Companies

Thirty-One gifts
(989) 832-7813
1117 Corrine St
Midland, MI
Seniors Helping Seniors
616234-0190
1515 Michigan NE
Grand Rapids, MI
Ernst Law Firm, PLC
313-965-5555
645 Griswold, Suite 4100
Detroit, MI
Advantage Legal Services PC
800-964-4240
65 Cadillac Square, Suite 2201
Detroit, MI
Walter Metzen-Attorney
313-962-4656
Penobscot Bldg Suite 3156
Detroit, MI
Charles Skupin & Joseph Lucas
800-771-4811
155 W Congress
Detroit, MI
Winchester Group
(248) 349-6394
22110 Cumberland Dr
Novi, MI
Hardin Laughs
(313) 861-2290
19347 Berkeley Rd
Detroit, MI
Lason
(248) 597-5800
1305 Stephenson Hwy
Troy, MI
Compass Group Associates Ltd
(248) 540-9110
401 S Old Woodward Ave Ste 460
Birmingham, MI

2 . Accessing Franchise Information Sources

There are many good sources of information about franchise opportunities. For most people, the process that makes the most sense is to first make sure you understand the business model of franchising. After you’re clear on what franchising is all about, then you can try to identify industry segments that may be of interest to you. Finally, you can research individual companies to see which ones match best with what you are looking for in a franchised business opportunity.

There are many good reference works and periodicals you can use to understand franchising in general and business format franchising specifically. The best sources to rapidly access this information at a very reasonable cost are:

  • A good bookstore
  • The public library
  • Internet web sites

    The best way to scan industry segments to find ones that potentially have interest for you is to refer to lists compiled and organized by others. These lists usually contain information on many companies segmented by industry. One of the best organized is the Entrepreneur Franchise 500 (January issue each year). Spend some time looking at the investment level requirements and thinking about what the pros and cons of that particular industry might be. Make a list of the ones that you are qualified to pursue financially.

    The final step is to research individual franchise companies. You will find that your best and easiest source of information is the franchise itself. Most franchise companies are set up to deliver the information you need to evaluate the opportunity. Make sure to carefully consider all the following sources:

    The initial package. Most franchisors have brochures, videos and web sites that will give you a good overview of the opportunity.





    The UFOC. The standard disclosure document that all franchise companies have will provide you with information about the company history, the background of all key executives, costs and fees, obligations of the parties, litigation experience, success rate information, audited financial statements, earning’s claims (optional), and a list of existing franchisees for you to contact.

    Existing franchisee calls. You should contact a number of the existing franchisees within any system you have an interest. You want to ask them about the training programs, the initial and ongoing support they have received, the effectiveness of the marketing programs they use, what purchasing power benefits they receive, and what the relationship with the franchisor is like. You will also want to confirm both the investment information and the earnings potential of the business during these calls.

    Meeting the franchisor. As a final step before selecting a franchise, it is always a good idea to personally meet the franchise staff you will be working directly with. Make sure you feel comfortable with their professional competence and with your ability to work with them in building a business together.

    Once you have gathered all the information you need, make a decision and move on. Remember, don’t compromise on your goals. When you find a franchise that’s right for you, you’ll know it.
  • 3 . FranChoice

    FranChoice FranChoice helps future entrepreneurs realize the dream of owning their own business. FranChoice will help you find that perfect fit; matching up your interests, talents, and investment level with a strong franchise business. We provide this valuable service for free. Pre-screened, high quality franchise companies pay us a fee for referring qualified, prospective candidates.

    From the beginning, FranChoice has been committed to its Mission Statement: "Helping People Realize Their Dreams." By developing a unique and thorough system of candidate qualification, consultant training and franchise selection, FranChoice has helped thousands of entrepreneurs find a great franchise.

    C.E.O. – Jeff Elgin
    President - Lori Kiser-Block
    Year Founded – 2000
    Years in Business – 7+
    Location – Corporate offices are in Eden Prairie, MN (15 minutes outside of Minneapolis). Consultants are located all over the U.S.
    Experience Level – Consultants have over 2000 years of combined experience.
    Market Share & Industry Position - #1 Deal Closer, we are recognized as the Premier
    Franchise Consulting Firm. We place 20% of all new Franchise Owners in the U.S.

    4 . Featured Local Company

    Thirty-One gifts

    (989) 832-7813
    1117 Corrine St
    Midland, MI

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    Dates: 11/14/2009 - 11/15/2009
    Location: Rock Financial Showplace, Novi
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