The Franchise Disclosure Document (FDD) is a legal document that franchisors must furnish to prospective franchisees, by law. The Federal Trade Commission (FTC) is the regulatory body that enforces it. That makes it kind of a big deal. The FDD contains information…facts and figures on the franchise business opportunity, and is provided to help you analyze the offering.
Are you seriously thinking of becoming your own boss this year? Is starting a business something that you’ve been thinking about…but haven’t pursued? Finally, why are you considering business ownership now?
Forget the “hottest” franchises. Ignore suggestions from franchise brokers on which franchises are “a possible fit” for you. Take articles that rank franchises from 1-100 with a grain of salt. Consider them to be “light reading.” Forget what you’ve learned about franchising up to now. Empty your mind. Clean your slate. I’m about to teach you about the two most important words in franchising. Ready?