Featured Franchises
Primary industry: Domestic Cleaning
Minimum investment level: £7,995
Primary industry: Local Internet Directory
Minimum investment level: £9,950
Primary industry: Recruitment of ex-Forces
Minimum investment level: £15,500
Primary industry: Residential Services
Minimum investment level: £9,999
Primary industry: Lawn Care
Minimum investment level: £6,900
Primary industry: Estate Agency Sign Management
Minimum investment level: £10,000
Primary industry: Weddings and events
Minimum investment level: £9,995
Primary industry: care and buety producs
Minimum investment level: £17,500
Primary industry: Internet
Minimum investment level: £1,000
Primary industry: Mobile car valeting
Minimum investment level: £7,000
Primary industry: signs and graphics
Minimum investment level: £35,000
Primary industry: Care
Minimum investment level: £32,500
Primary industry: Business Development
Minimum investment level: £3,500
Primary industry: Accountancy
Minimum investment level: £30,000
Primary industry: Property services
Minimum investment level: £5,000
Primary industry: Photography
Minimum investment level: £46,000
How to Avoid a Franchise Scam
If you are thinking about buying a franchise, there are many opportunities in a variety of industries that you may find suitable. However, there are so many franchise opportunities now that many franchise opportunity scams are surfacing as well. You will have to be wary of these scams while searching for your perfect franchise opportunity, and take precautions so as not to fall prey to them. The most important thing to keep in mind is to avoid things that are too good to be true. If a franchise opportunity presents itself and the franchisor is promising that you will make a lot of money in a short time with little effort, this is very unlikely to be true. The franchisor will go back on their promises and leave you out whatever money you have given to them. If you are going to buy a franchise you have to be prepared to work hard if you want to be successful. You are not going to be able to go into business for yourself and make money if you are expecting to expend little effort. As for the amount of time in which you will see returns, that can vary from franchise to franchise.
Another thing to avoid is franchise opportunities which are advertised in infomercials on TV. A good franchisor will not advertise this way, and an infomercial for any product, franchise or otherwise, should raise doubts for us if we’ve ever bought anything “As Seen on TV.” You should also look out for franchisors who are trying to rush you into making a decision with things like limited time offers. They are trying to trick you into something that you will regret if you do not take your time deciding on their franchise opportunity.
There are certain things you can do to research the company you are thinking about buying a franchise from beforehand to avoid getting caught up in scams that may not be as obvious as those seen in an infomercial. Find out if there have been any lawsuits filed against the company. You can also talk to current franchisees to find out if the franchisor is up to no good or if they do all that they promise to do. You should also check with the better business bureau to find out if they have any unresolved complaints. In general, find out as much as you possibly can about the company. Keep in mind that they could have changed their name if they are a scam business.
Finally, make sure that the contract is everything it is supposed to be. If they promise that you will make a certain amount of money, you need to get it in writing in the contract, otherwise, you have no guarantee that they will follow through on that promise. Also, it is strongly recommended that you get a lawyer to read through the contract before you sign anything, no matter how confident you are in your ability to understand it and the reputability of the company.
Bio
Blair Cavagrotti is in Marketing at WorldFranchising.com, a website that provides franchise information to potential franchise buyers.
