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I cannot stress enough how crucial it is to investigate the franchise development company you are thinking of using when franchising. It is extremely annoying to reveal that some of our competitors are facing serious litigation, tax crime and are under inquiry for fraudulent practices. For over thirty years I’ve watch many companies appear and vanish. Many Franchise Shingles have been hung by folk who confess to be franchise professionals when in truth they have only been associated with a franchisor for a short while and now think they can be a expert or worse yet, a franchise developer.

Two things you may ask the advisors are :

Are they published? Other words have they frequently written articles?
Have they been on radio or television?
Are they considered an expert witness?
Are they a public speaker or lecturer on franchising?

Yes this is all so true. Some of our unnamed rivals have been under investigation and now in litigation for making misrepresentations when selling franchises for their clientele. Allegedly, several franchisees have stood up claiming that this franchise development company misrepresented their customer because they’d a vested interest in the client’s company making culpable misrepresentations, concealment of info, conspiracy and breach of contract. The prosecuting solicitor has said’This company fully stepped out of the job of being franchise specialists and became their customer’s partner, joint venturer and legal counsel’.

This supports my position that a franchise development company who also sells franchises for their clientele is a conflict of interest. If you come across a corporation that offers this service and if they also require that you give them a % share of the company to defer charges, RUN. Not only are you jeopardizing the integrity of your business, but also future franchisees who buy into your system.

Other broadcast reports confirm that our nameless rivals have had their attorneys walk out on them refusing to be associated with the franchise development company. It has also been reported that just last week some of these franchise development companies have fired key personnel after failing to meet payroll. It is unclear how in depth these layoffs will be.

Bottom line, if you are shopping our competition, do your due diligence so you do not inherit pointless headaches and legal challenges.

Discuss the probabilities of franchising with Ken Hollowell by getting in contact with him at 407-363-3545. Free Consultation is available.

Ken Hollowell, President/CEO of Profran Consultants has over 30 years been consulting with companies wanting to become a franchisor and develop a franchise system. Ken Hollowell has developed over 800 franchise business throughout the world. He is one of the most sought after franchise consultants in the USA. In addition to the franchise development work, Ken prepares private placement offering for companies needing to raise funds for their projects or companies. Ken can be contacted at www.pro

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