The Franchise Edge, LLC

Our Team | Contact Us | FAQ's

Top 5 States For Franchising (Based on IFA Members)
1. California
2. Texas
3. Florida
4. Georgia
5. New York and Minnesota

Frequently Asked Questions

Questions:

1. Is my business or concept ready to franchise or expand further?

2. What should my franchise cost?

3. What about ongoing royalties and fees?

4. What type of franchise document do I need?

5. Do you draft a UFOC?

6. How much do they cost to draft?

7. Do I need any other legal document?

8. What type of franchise material do I need?

9. Do you develop these franchise materials?

10. Where do I find potential franchisee?

11. Do you help with the leads generated?

12. Do you help with franchise sales?

Answers:

1. Is my business or concept ready to franchise or expand further?

This conclusion will be determined by a number of factors:

How is your existing store or stores doing?
Do you frequently have customers asking when they can buy one of your stores?
Who is your competition?
Where are they located?
How are they doing?
Do they franchise?
How much does it cost to open one of theirs?
Is your business seasonal?

2. What should my franchise cost?

Again, this conclusion will be determined by a number of factors:

How well do you know your business model?
Can a new owner expect to make a profit – 1st year and 2nd year?
Are there any competitors offering similar business opportunities?
What are they charging?
Why is yours different?

3. What about ongoing royalties and fees?

Most franchisors charge between 4 to 6% of net sales on a monthly basis. Again, this depends on how successful your business model is and the level of support you can and will provide.

4. What type of franchise document do I need?

If you don’t already have a Uniform Franchise Offering Circular ("UFOC"), you will need to have one drafted; this is one of the many services The Franchise Edge offers.

5. Do you draft a UFOC?

No, we are not attorneys. We do form the basis of the UFOC and then forward the information to our alliance in franchise law. Our legal alliance is one of the most reputable and recognized team for Franchise Law in the country. In turn, our legal team completes the work required for filing of the UFOC.

6. How much do they cost to draft?

That will depend on which law firm you select and the type of structure in which you wish to have within the franchise community.

7. Do I need any other legal document?

You will need to have a Franchise Agreement and you will need an audited financial statement to insert into the UFOC.

8. What type of franchise material do I need?

In store franchise cards, a franchise brochure, classified and internet ads developed; all referring to the franchising portion of your website.

9. Do you develop these franchise materials?

Yes. This is part of the service you get from The Franchise Edge inclusive with our agreement.

10. Where do I find potential franchisees?

The Franchise Edge will help you determine where to best source your leads, this will also help you determine what type of budget you are willing to place upon this process and system.

11. Do you help with the leads generated?

Yes. The Franchise Edge will work directly with each concept and prospective franchisor, guiding you from ad placement through inquiry to close of the sale.

12. Do you help with franchise sales?

Absolutely! The Franchise Edge will facilitate all new sales and work with all potential franchisees from the initial inquiry all the way through to the closing of the sale.