Franchise country: we hit the road and went in search of the hottest trends in franchising, from the mountains to the prairies

Entrepreneur, June, 2003 by Todd D. Maddocks

RELATED ARTICLE: RESEARCH AT A GLANCE

MONTH 1, GENERAL STUDY: Research by visiting www.entrepreneur.com/franzone as well as individual franchisors' Web sites.

MONTH 2, LOCAL FIELD TRIPS: Frequent any place in your area that looks like it might be a franchise. Try to shop at the concepts you're interested in.

MONTH 3, FRANCHISE SHOW: The International Franchise Expo in Washington, DC, is the biggie. If you can't attend a show, take a trip to see concepts not in your area.

MONTH 4, APPLICATIONS AND DUE DILIGENCE: Apply to at least three concepts; weigh the benefits and strengths of each offering. Hire a franchise attorney/consultant.

MONTH 5, LENDING SOURCES: Talk to your banker and see if funding for the concept would be available. Write an executive summary with estimates of cash requirements.

MONTH 6, SIGNING THE AGREEMENT: Dot those i's and cross those t's. And keep your day job until the last possible moment.

Todd D. Maddocks is Entreprenew's "Real Life" columnist