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| FiltaFry The Franchise Disclosure Document is a legal document that you usually will get in the course of looking into a franchise. By law, franchisors must furnish this document to prospective franchisees, and this generally contains materiel information that will be important to the franchisee in assessing the franchise as a business opportunity. This document is usually packed very full of information, and each piece is a vital part of the overall picture that you need to make a more informed choice. Having this document and being aware of the parts of it is important. Here, we will go into the different parts of the Franchise Disclosure Document and what different changes are in this format for franchisees. Franchise Disclosure Documents all follow the same format: The franchisor and any predecessors, litigation history, bankruptcies, the franchising fee and any other opening payments, any other fees involved, a statement of the investors initial cost, obligations to the franchisee to purchase from specific sources, obligations to purchase in accordance to standards, financing, obligations of the franchiser itself, designation of territory, trade marks, trade names, logo types, service marks and other commercial symbols, copyrights and patents, obligations of the franchisee to participate in actual operations, restrictions on goods and services, Renewal, termination, repurchase, modification and assignment of the Franchise Agreement and related information, arrangements with public figures, actual, average, projected or foretasted sales, profits and earnings, information regarding the franchisers’ franchises, financial statements, contracts and lastly, an acknowledgment of receipt. The FTC rules for franchises changed in 2007- and many people question the differences between the Uniform Franchise Offering Circular, or UFOC and the FTC Franchise Disclosure Document, or FDD. It is important to bear in mind that the FTC does not require these documents to be filed, but that twenty six states require business opportunity disclosure filings, and thirteen states keep these on file. It’s generally advised that a franchiser give you this document at least fourteen days before you sign a franchise agreement- though the better advice is to be sure you are clear on it well before then. As of July 1, 2008 the new format became mandatory. Most people have discovered that franchise closings do go a great deal more smoothly since the change, and it certainly does make delivering the document via electronic means a great deal easier. However, the same rules apply as to this document as did the old- make sure that you have a qualified franchise attorney look it over, and if you have any questions about any part of the document, or anything said in it, always ask for clarification. It is vital that you are absolutely clear on the franchise agreement, and the FDD, more importantly, before you proceed so that you are completely understanding about what you are engaging in. Rapidly gaining ground as a strong market, the bio diesel trend is gaining ground at a steady pace. Bio diesel 2020 author Will Thurmond said, “The global markets for bio diesel are entering a period of rapid, transitional growth, creating both uncertainty and opportunity. The first generation bio diesel markets in Europe and the US have reached impressive bio diesel production capacity levels, but remain constrained by feedstock availability. In the BRIC nations of Brazil, India and China, key government initiatives are spawning hundreds of new opportunities for feedstock development, bio diesel production, and export”. Companies that keep their focus towards more environmentally friendly ways of doing things have certainly got an edge, this being the case. Growing sustainability concerns are bringing about vast changes in the way that many businesses and franchises are doing things. Filtafry, a known leader in environmentally sound food service technology has not lost sight of that, since its inception in 1996. “The price of cooking oil, as a commodity, has sky-rocketed in the last year and the need for efficient operations has never been greater,” says Victor Clewes, CEO of The Filta Group, an international Eco-friendly services company which specializes in cooking oil filtration and recycling. “Filtering and re-using cooking oil reduces oil purchases. Reduced oil purchases result in cost and waste savings. Then, when the oil can no longer be used for cooking, it becomes bio-fuel. Nothing is wasted. It’s used in the food we eat, then in the cars we drive. It becomes a net positive for the environment as well as a restaurant’s bottom line.” FiltaFryFilta and YouWhen you join the Filta family you join up with one of the fastest growing franchises in the country. You get the backing and support of the Filta Group’s dedicated staff, as well as the knowledge and experience of hundred of successful Filta franchisees. These experienced professionals are available anytime through the FiltaNet to help answer your questions and give you valuable tips and advice based on years of experience in the field. Filta stands behind its product and services. Even more importantly, Filta stands behind it’s family, the Filta franchisees. When you’re with Filta your truly are “in business for yourself, but not by yourself.” Insurance Savings However, the potential to save money doesn’t stop there. FiltaFry’s specialized cleaning system takes the burden of taking care of your fryers off of the shoulders of your staff. This means lower labor costs and a reduced risk of fryer related injuries. You can see a dramatic decrease in employee slip and falls as well as a reduction in the instances of burn reports. Every year restaurants pay out an average of $5,386 for slip and fall incidents. With FiltaFry managing your fryers and keeping the area clean and free from hazardous materials, you can virtually eliminate these occurrences. Furthermore, when a restaurant reports average or below average numbers of workplace injuries they are eligible to save up to 25 percent on insurance. This can mean a savings of about $1,400 each year on insurance alone. Filta Fry Before you decide to look into purchasing a franchise, one of the best things to do is to sit down and do a self assessment. Franchising can be a really great opportunity, but it is also something that not everyone can do- some are not really cut out for certain types of franchises, as well, so this may be something that goes deeper than just franchising itself. Dig a bit deeply and ask yourself if you feel that you are really ready to take the next steps needed and if you feel that you are able to work through the start ups and all of the different aspects of business ownership. Thinking about franchising as anything less than an investment that will require work may be the wrong path to go down. The next thing that you need to have in place is a five year plan. This may or may not include the potential franchise you are looking at- but what this does is to map out your lifestyle and this way, you can sort of cross reference it to the various franchise options you are looking into and decide if the franchise is a good fit. This will help you to narrow your choices down quite a lot and help you to really find a franchise you feel good about for the long term. In addition to this, at this time you may want to consider talking to the people at the franchise, looking into it more deeply and getting more informed so that you know exactly what this will entail and what your responsibilities and rights will be. Again, you do this in order to see if the franchises you are looking into fit into your life, and if they can stay a stable part of that long term. Once you have this in place, you probably already have a good list of prospective franchises. The next thing to do is analyze start up cost. It’s a good idea to have not only enough for start up but enough set aside to get you through start up and keep you afloat until you have your feet on the ground a bit. Sit down and working with your five year plan, consider the long term, and consider which franchises fit into that long term budget and what you feel comfortable with. This should narrow the list even further. Basically, the very best thing you can do is to begin with a list of prospective franchises, and then, weigh the information your receive on them as it comes in, against your own goals and dreams. One of the bigger mistakes that some people make is not going into a franchise sure that it will fit in with their lives- remember, going into business for yourself is also about quality of life. Make sure that you are reasonably aware of what the job is, what parts of it you’ll have to be very involved in, and if that franchise really is for you. The Filta Group originated as a waste oil and fryer maintenance service based out of the UK. From its humble origins it has since grown to become a global leader in not only environmentally conscientious oil management, but has since expanded its eco-friendly efforts into cold storage with its FiltaCool line of products and service. As more and more large corporate entities begin to embrace green business, many smaller businesses are beginning to follow suit. Restaurant owners are starting to realize that the waste oil that was once a burden is rapidly becoming a marketable commodity and that getting in now will serve them well in the future. “From 2008 through 2020, a series of transitions in the bio diesel industry will create winners and losers,” says Thurmond. “Bio diesel producers that are best able to evolve and adapt to transitions in technology, markets, feed stocks and government policies are most likely to succeed over the long term.” As these trends continue, it becomes imperative for small businesses to pick up the banner of sustainability and green business. Not only is their public pressure to do so, but as new means of conservation are struck upon, it becomes more and more apparent that availing oneself of them is the economically sensible thing to do. Keeping current with emerging developments and finding ways to integrate more efficient and sustainable business practices is the only practical means of growth and development into the burgeoning biodiesel market. For more information visit: FiltaFry or Filta Fry | ||
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