Why should I invest in a franchise?
Because franchises are documented, proven, successful business models. The average failure rate for new business start-ups in this country is 55%. The average failure rate for franchises is 12%. The franchise model mitigates the most risk in starting a new business and has a much higher rate of success.
How do I know if a franchise is legitimate?
Franchises are regulated by the US government. Every year, the franchisor must submit a document called the Franchise Disclosure Document. This 300 page document covers all aspects of the franchisor’s offering including past history, expenses, and earnings claims, all of which must be verified. This document will be shared with you.
Can I invest in any franchise I choose?
No. Franchises are not “for sale.” They are “awarded.” The franchisor evaluates you as a potential partner as closely as you evaluate their opportunity. They want to be sure the person to whom they award a territory will be successful. Their success is directly related to your success. You and the franchisor are partners in building your successful future.
What is a franchise fee?
The initial investment in a franchise is the franchise fee. This is a one-time fee which basically gives you a turn-key business. It allows you to use their name, branding, proven business model, processes and procedures. They also provide complete training and on-going support plus various other services pertinent to their industry.
Couldn’t I just do it on my own?
Maybe. (See the first question above.) But why would you? The franchisor has already spent millions of dollars, hours and resources perfecting their model and are dedicated to continual improvement that keeps up with the changing market. While no one can guarantee success, franchises are probably as close as you can get.
Are franchise territories exclusive?
Most are. There are a few which allow you to work with clients all over the country. Most often, you receive an exclusive geographic territory – no other franchisee will be competing for business within that region. Also, franchisors will not award territories that are not “viable.” In other words, they know that the demographic density of the population within a territory meets their parameters to yield a successful franchise operation. Evolution Partners will perform a “territory check” in your area of choice to determine availability before sharing that franchise option with you.
How many franchises are in Evolution Partners’ portfolio?
As a member of the International Franchises Professional Group, Evolution Partners represents some 350+ successful franchise models in a wide variety of industries. We work with the top models in each field. Our clients are serious business professionals – they demand the best.
Why work with Evolution Partners?
Because navigating the world of franchise options on your own is a daunting, time-consuming task. Every member of our team is a Certified Franchise Consultant. Our EPIC system analyzes all facets of your background, skills, interests and goals which allows us to recommend business opportunities uniquely fitted to you. We then help you navigate the process of discovery, as you investigate all aspects of your potential new business until you reach a decision that is right for your future. Evolution Partners is truly your partner and trusted advisor in this journey.
Do you offer established businesses for sale?
Yes, on a limited basis. Most successful business owners do not sell their businesses. They more often view it as a legacy to be passed down to children or family members. Some choose to hire competent managers and simply provide minimal oversite.
What is the process of Discovery?
Every franchise has a defined process in which they share every aspect of their business with potential owners. You will have multiple conversations with the principals of the franchise including webinars and other resources. The franchisor will provide the names and contact information of other owners around the country and invite you to speak with them independently to “validate” their opportunity. Sometimes, you will travel to their headquarters to meet in person and experience their business model firsthand. This process is very transparent. All questions will be answered in great detail so that a successful partnership can be established.
Can I finance my new business?
Yes! Some franchisors will provide financing for you. If they do not, there are numerous other options available. With a credit score of at least 680, many different business loan products will be available to you. Some require no income verification, some have no interest for 9-15 months while you build your business. Rates are competitive and funding can be achieved anywhere from 2 weeks to 2 months on average. You can also roll-over IRA funds to start a new business and incur NO taxes or pre-payment penalties. Evolution Partners can refer you to reputable, experienced sources so you can investigate your funding choices. Our partners are experts in all avenues of business funding and can help make your ownership dreams a reality.
Does Evolution Partners charge a fee for service?
NO. There is never a fee or obligation associated with our services. Franchisors award franchises to top talent so finding that talent is critical. They want the best. And we work with the best. When Evolution Partners makes a successful match, the franchisor pays us an executive finder’s fee.