At a Loss?

Entrepreneur, July, 2001 by Barry Farber

An important part of the UFOC is its listing of current and former franchisees, including contact information. Contact several--in both categories--and interview them about what it's like to be part of this franchise system. Was the franchisor's training program helpful? Have there been any unexpected problems? What's a typical day like? Are profits as expected? Volunteer to work at a franchisee's location to see what it's really like.

When the research is done, your choice often comes down to gut instinct. That's why chatting with franchisees and getting a feel for the business are so important.

"Look Inside," "10 Steps to a Start-Up" and "A Call for Backup" are adapted from Start Your Own Business: The Only Start-Up Book You'll Ever Need (Entrepreneur Press) by Rieva Lesonsky and the staff of Entrepreneur magazine, available at www.smallbizbooks.com.

Barry Farber is Entrepreneur's "Success Coach" and "Sales Success" columnist.

STRAIGHT TO THE SOURCE

YOU DON'T HAVE TO POUND THE PAVEMENT TO GET ENTREPRENEURIAL HELP. THIS SHOULD DO NICELY.

* SBA, www.sba.gov, (800) U-ASK-SBA

* SCORE (Service Corps of Retired Executives), www.score.org, (800) 634-0245

* Association of Small Business Development Centers (SBDCs), www.asbdc-us.org. (703) 764-9850

* Minority Business Development Agency, www.mbda.gov, (202) 482-5061

* National Business Incubation Association, www.nbia.org, (614) 593-4331

* Need money? Go to www.microenterpriseworks.org for a list of organizations that provide microloans.

Cynthia E. Griffin