{"id":12565,"date":"2014-02-20T03:47:27","date_gmt":"2014-02-20T03:47:27","guid":{"rendered":"https:\/\/www.thefranchiseking.com\/?p=12565"},"modified":"2019-09-04T16:58:42","modified_gmt":"2019-09-04T16:58:42","slug":"dont-share-financial-information-cant-buy-franchise","status":"publish","type":"post","link":"https:\/\/www.thefranchiseking.com\/dont-share-financial-information-cant-buy-franchise","title":{"rendered":"If You Don\u2019t Share Your Financial Information You Can\u2019t Buy A Franchise"},"content":{"rendered":"

\"personal<\/a><\/p>\n

If the thought of sharing your personal financial information with others makes you nervous, don\u2019t search for a franchise to own<\/a><\/strong>.  It will be a complete waste of your time.<\/p>\n

It will also be a complete waste of time for the franchise development department of the franchisors you contact. That\u2019s because they won\u2019t be able to award<\/span> sell a franchise. And, as you know, it all starts with the sale. There has to be a buyer and a seller.<\/p>\n

If you don’t share your personal financial information with the franchise development representative, you won’t be able to buy a franchise<\/b>.<\/p>\n

 <\/p>\n

How Franchisors Look At Things<\/h2>\n

It\u2019s important for you to understand exactly where franchisors stand when it comes to all things financial. Maybe this will help.<\/p>\n

Imagine investing hundreds of thousands of dollars into the creation and development of your franchise idea<\/a><\/strong>\u2026your franchise concept. Not only does every piece of the puzzle need to work once it\u2019s all said and done\u2026you have to be able to sell franchises\u2026which (in these days<\/i>) isn’t all that easy. There are a lot of franchise concepts around. There are only so many buyers. Not lookers<\/i>. Not people that are just curious<\/i>. Buyers<\/b>…people that have the money. The people that have the desire to own what they do\u2026that are sick and tired of the corporate rat race and are ready to be their own bosses.<\/p>\n

Today\u2019s franchisors have to talk to many, many candidates. Some of them are financially qualified. Some aren\u2019t. But, franchise salespeople-the franchise development representatives-have to get the money stuff out of the way early on. After all, if someone can\u2019t afford to buy the franchise, why would they want to waste time talking with them?<\/p>\n

Think about it: If a franchise development representative spends an inordinate amount of time talking with anybody and everybody that\u2019s inquiring about their franchise concept, they won\u2019t be able to sell any franchises. Franchisors who\u2019ve invested their money into developing their concepts-their bosses, won\u2019t be too happy about outcomes like that. New franchise sales<\/a><\/strong> are an important part of the franchise machine.<\/p>\n

Now, before you say, \u201cMaybe someday in the future, the people that don\u2019t have the money now will have money and end up buying the franchise at a later date<\/i>.\u201d<\/p>\n

 <\/p>\n

\"Why?\"<\/a><\/p>\n

Really?<\/strong><\/p>\n

That almost never happens. Salespeople\u2026all salespeople, have to qualify or disqualify prospects early on, or they will end up spending oodles of time with well-meaning nice people who can\u2019t buy what they\u2019re selling. And, if salespeople don\u2019t sell, salespeople don\u2019t eat. Or pay their mortgages. Or pay their car payments. Or, pay for college. Etc.<\/p>\n

It\u2019s super-important for the sales team to only spend time with franchise candidates that have enough money to invest in their concept. It\u2019s just good business. That\u2019s why franchisors need your financial information<\/strong> early on in the process.<\/p>\n

 <\/p>\n

Use My Free Net Worth Calculator<\/b><\/a><\/p>\n

 <\/p>\n

If You Don\u2019t Share Your Financial Information You Can\u2019t Buy A Franchise<\/h2>\n

I\u2019m serious. If you\u2019re uncomfortable about revealing all of your financial information, you won\u2019t be able to buy a franchise<\/a><\/strong>\u2026even if you\u2019re paying cash<\/em><\/span> for the franchise.<\/p>\n

Your financials say a lot about you. How you save. How you spend. How you invest.<\/p>\n

There are a lot of steps to a franchise sale. Lots of things have to take place before a franchise candidate is offered an opportunity buy a franchise. The financial qualification step is only one of them.<\/p>\n

If you can\u2019t make it past that step, you\u2019re not going to get very far.<\/p>\n

As a matter of fact, you\u2019ll be right back to square one.<\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

If the thought of sharing your personal financial information with others makes you nervous, don’t search for a franchise to own.  It will be a complete waste of your time. It will also be a complete waste of time for the franchise development department of the franchisors you contact. That’s because they won’t be able […]<\/p>\n","protected":false},"author":2,"featured_media":28755,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","footnotes":""},"categories":[729,25],"tags":[1424,1647],"class_list":["post-12565","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-be-the-boss","category-franchise-financing","tag-financial-information","tag-franchisors"],"yoast_head":"\nYou Must Share Personal Financial Information With Franchisors<\/title>\n<meta name=\"description\" content=\"If you don\u2019t share your personal financial information, you can\u2019t buy a franchise. 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