U.S. CitiesCity-Data Forum Index
Covid-19 Information Page
Go Back   City-Data Forum > General Forums > Economics > Business
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
 
 
Old 01-15-2009, 01:37 PM
 
395 posts, read 1,213,714 times
Reputation: 186

Advertisements

My husband is interested in opening a grocery store in the town we live in. We haven't yet signed any Franchise agreement but I was wondering if anyone in this forum has some experience in Franchising.

Its an Asian grocery store we are interested in and we are meeting the franchisor coming Monday. The town has about 70,000 (as per govt records) people out of which good 5000 people would be Asians (specifically Indian, Srilankan and Pakistani).

Of course I would not quit my job but I am going to be a co-signer.
We are going to hire a lawyer and an accountant but I would really appreciate if anyone can give ANY advise as how its going to be like for us. Has anyone here any experience in running a store?
Rate this post positively Quick reply to this message

 
Old 01-17-2009, 10:49 AM
 
Location: Orlando, Florida
43,856 posts, read 46,011,019 times
Reputation: 58662
I found this link online and it seems to have lots of great information you can use on it:
Progressive Grocer- Find Supermarket Industry News & Grocery Store News

Good luck to you and your family business!!
Rate this post positively Quick reply to this message
 
Old 01-22-2009, 08:22 PM
 
Location: Papillion
2,589 posts, read 9,789,722 times
Reputation: 899
Be sure to get their Uniform Franchise Offering Circular (UFOC)!!! if not familiar with that see this link: Franchise Registration And Disclosure Guidelines (http://www.nasaa.org/industry___regulatory_resources/uniform_forms/3697.cfm - broken link)

Have your good business attorney, CPA, and banker all review it with you along with your business plan.

There is very high risk with a franchise system if they don't do it right. Buyer Beware... on the flip side, franchising can be a great way for someone to get into business, if the franchisee is legit and will be in business for the long haul.

Do your diligence up front. If you are new to business it might be worthwhile checking your local SBA office and see if they have a SCORE counselor (retired executives working with SBA to help small businesses - fantastic organization).

SCORE: http://www.score.org/index.html
SBA: http://www.sba.gov/ (broken link)
Rate this post positively Quick reply to this message
 
Old 01-23-2009, 11:12 AM
 
395 posts, read 1,213,714 times
Reputation: 186
Great information! Thank you both of you.
Rate this post positively Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


 
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:
Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > General Forums > Economics > Business
Follow City-Data.com founder on our Forum or

All times are GMT -6.

© 2005-2020, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Contact Us - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37 - Top