The Uniform Franchise Offering Circular (UFOC) is a comprehensive document every franchisor is required to process and keep current. The FTC requires franchisors to give the UFOC to prospects that want to purchase a new or franchise resale from the franchisor.
The purpose of the UFOC is to give the potential franchisee complete background about the franchise. The UFOC includes detailed information on items such as the franchise’s business history, litigation, bankruptcy, initial franchise fee and other fees, total initial investment required, franchisee’s obligations, franchisor’s obligations, financing, territory, trademarks, patents, copyrights, restrictions, dispute resolution, earnings claims, financial statements, contracts, and more.
Once you narrow your list of franchises down to the ones that interest you the most, be sure to carefully read each franchisor’s UFOC as part of your due diligence process. What you find in it is often the case for moving forward with the franchisor, or moving on to another franchise opportunity.
About The Author - Peter Siegel,MBA is the founder of BizBen.com and USABizMart.com. A nationally recognized author (3 books and a syndicated small business blog) and expert consultant on buying small to mid-sized businesses, you can reach Peter Siegel at 925-785-3118.
|Helpful Resources To Assist In Selling And Buying California Businesses|
|Helen Yoo: Escrow & Bulk Sale Services - Southern California
New Century Escrow, Inc. is a fully licensed & bonded independent escrow company. Over 20 years combined experience in handling bulk escrow transactions. Multi-lingual staff that speaks your language, including Korean, Chinese, Vietnamese. Call Helen Yoo direct at 626-890-1151.
|Elizabeth McGovern: Escrow Services - SF Bay Area
McGovern Escrow Services, Inc., is a leading independent escrow company. We are a trusted partner with our clients, assisting them through the tangled bulk sale & liquor license transfer process. We provide attentive, quality & innovative customer service. Phone Elizabeth McGovern at 415-735-3645.
|Brad Steinberg, Broker - Laundromat Specialists
PWS is the leading laundromat broker in California. Since 1968 PWS has brokered over 2,500 laundromat sales. With over 90 employees dedicated to the coin laundry industry, PWS has 18 licensed agents, a 3 person in-house finance department, 10 service technicians and a 20 person parts department.
|Willard Michlin, CPA, Certified Fraud Examiner, Due Diligence Services
Willard Michlin, CPA #106752, offers buyers step by step training & assistance in doing Due Diligence Services when they are thinking of making an offer, or are in process of investigating a business purchase. He helps to determine the actual net profit even when there is cash. Call 805-428-2063.
|Janet Carrera - Escrow & Bulk Sale Services - SF Bay Area
Redwood Escrow Services, Inc. is a full service, licensed independent escrow company. We are EAFC Fidelity bonded, fully insured & licensed with the Department of Corporations. Committed to offering our clients the most comprehensive variety of escrow services available. Phone Janet at 510-247-0741.
|Joe Sandbank, Esq. - Legal Services
I have provided legal counsel to business buyers, sellers and brokers for over 17 years. With prior experience as a business broker and SBA loan officer, Joe brings both a practical and legal approach to all aspects of the business acquisition process.
|Diane Boudreau-Tschetter: Escrow And Bulk Sale Services
California Business Escrow, Inc. is a full service independent escrow company serving all of California and has expertise in a wide range of escrows. Our team prides itself on providing an exceptional escrow experience. For more info phone Diane Boudreau-Tschetter at 888-383-3331 or 209-838-1100.
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