Broker Disclosure Document
This notice states the Broker Value and Disclosure practices for summitfranchising.com and its franchise consultants.
The Value of the Franchise Consultant to Candidates:
There is significant value when it comes to working with a franchise consultant in finding a franchise and/or business opportunity.
- There is only so much time in a day. A franchise consultant listens, qualifies, understands you, and focuses on alignment of your goals to franchise opportunities. A win-win for all!
- Which is better; one concept or a few hundred? Franchise consultants represent several hundred franchises brands and/or business opportunities. They are not focused on one brand or one industry. They are focused on you and your goals. They come from an unbiased perspective.
- Relationships matter. The franchise consultant will develop a relationship with you to understand YOU. They will show you franchise companies or industries you may or may not have thought of, or concepts they believe may be of interest to you. The results can lead to you selecting a franchise that meets YOUR goals and needs. Now that is measurable!
- The candidate does NOT pay anything additional to work with a franchise consultant. The franchise company pays the consultant if it results in an executed franchise agreement. Cost for the brand is the same price if they worked directly with the franchise company.
- The franchise consultant has professional resources that are experts in the franchise industry that you may use if you desire.
The Franchise Consultant’s Value to the Franchise Company (franchisor and/or business opportunity):
- The franchise consultant qualifies the candidate to insure they meet the qualifications required by the franchisor and/or business opportunity.
- Qualifying the candidate will include the territory being available, insuring they are financially qualified which may include pre-qualification with a funding provider, an understanding of their background and goals.
- The franchise consultant helps to educate the candidate about franchising and encourages the candidate to do extensive research during their discovery.
The Candidate’s Responsibility in the Franchise Ownership Discovery Process:
The choice is YOURS and yours alone. The franchise consultant’s role is to help guide you through a methodical process for your due diligence, but the investigation and ultimate selection of the franchise brand is yours alone. Once you enter into a franchise agreement, the relationship is governed by the contract between you and the franchise company. We strongly suggest you consult legal and financial advisors before you enter into a franchise agreement. The franchise consultant may provide professional resources that you can choose to employ if you so desire.
Disclosure Provided to the Prospective Franchise Buyer
- We are an Independent Contractor, engaged in the activity of introducing prospective business buyers and investors to sellers of franchises.
- We are not an agent, employee, representative, or other functionary of the seller of the respective franchises introduced to you.
- We are paid a referral fee by the seller if you elect to purchase a business from a company that was introduced to you by us.
- Many Franchisors disclose various earnings claims in their disclosure documents. We do not enter into discussions of earnings claims. Any earning claims information shall come directly from the franchise representatives.
- We cannot verify the accuracy of the written or web site information provided by the seller, and assumes no responsibility for the acts, errors, or omissions of the seller, or the outcome of any transaction.
- We are not qualified to advise in the purchase of a franchise. You are urged to seek professional advice from qualified franchise attorney, accountant, or other qualified resource.
- Buying a franchise is a complicated investment. Take your time to decide. Make good, common sense decisions in all investment matters.
- The Federal Trade Commission [ www.FTC.gov ] regulates the sale of franchises.
- Your state may also have laws regarding franchises.
- The Better Business Bureau [ www.BBB.org ] is an excellent information source for potential franchise buyers.
- You alone are responsible for researching and ultimately selecting the franchise or business you purchase.