3 due diligence tips for franchise buyers

By Nick Hall | 25 Mar 2019 View comments

Want to buy a franchise without the headache and heartache? Check out these 3 due diligence tips because the best antidote for business blues is getting it right from the start.

If you want to make the most of a franchise opportunity, due diligence is key.

That’s why we’ve highlighted these 3 steps to due diligence:

3 due diligence tips

Her are 3 things all franchisees need to know about due diligence

  1. You are entitled to it

It is sensible to ask as many questions as possible before you buy a franchise. Quiz the franchisor, your accountant, your lawyer and most importantly, yourself.

  1. Help is available

You won’t be expected to understand every element of due diligence. Nor are you supposed to forecast all the possible scenarios. Professional advice is available to help you make sense of this information.

  1. Due diligence is an investment, not a cost

Advice from legal and financial experts in franchising before you buy is key to operating a business smoothly. It may cost you time and money but it could save you thousands of dollars in the long-run.

Remember, the benefits of due diligence far outweigh the costs.

Interested in your rights and obligations? Check out the ACCC’s Franchisee Manual.