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Page 16 THE HERALD Wednesday June 1991 -Business- Franchise investments should be fully investigated Franchise operations can be a good investment for those with enough money and the time and energy to make a business grow During the economic downturn even more people than usual are interested in running their own business To help make sure new fran chise ventures will provide years of steady income and to guard against promoters of worthless experts say potential investors should do their homework before buying into any plan The only way buyers can be sure they re making the decision is to investigate fully before they invest says Whipple Steinkrauss Assistant Deputy Minister at the Ministry of Con sumer and Commercial tioiMMLUt Franchise trade shows and the Ministry of Industry Trade and Technology s MITT s seminar on franchising given at various Ontario locations are two good ways to get information advises Steinkrauss Talk to the Canadian Franchise Association and call our ministry s Consumer Information Centre to ask for a copy of the brochure Facts about franchising The public library is also a good place lo read up on the industry The first thing the buyer s research will uncover is the great variety of franchise operations available Retailers selling automobiles cosmetics and bicycles generally work in a simple system that serves mainly to limit a New directory unveiled for the selfemployed Have you ever found yourself in a panic at deadline time trying to find a writer photographer editor graphic artist or other professional If so you be in in a new directory published by the Peel Communications Assoc The directory provides in formation and contact numbers for several writers photographers editors graphic artists video producers public relations and desktop publishing specialists from Halton Peel The individuals featured are self employed In many cases this directory is the only way to find these talented communication specialists Copies of the direc tory are available for to cover printing and postal fees by calling HPCA member Carol at The HPCA is a not for profit association comprised of in dividual communication profes sionals as well as member organizations who regularly use the services of freelancers thly meetings which spotlight a vanety of business subjects take place on the last Tuesday of every month Guests are always welcome On Tuesday May 1991 guest speaker Phyllis Roy of Peat Thome Inc will ad dress several financail issues of interest to small business owners including running your business with more financial savvy filing of Canadian tax returns S tax laws and selling your services in the S Come to the Civic Centre at Admission is For more information call 8574 business territory Examples of the more familiar of franchise are often found in fast food chains motels and car rental offices In these plans franchisees buy an entire system from the parent company Consumers should find the products service and even the style of the shop similar at any location Once buyers have a general idea of the soi t of franchise they re looking for they should find a lawyer and accountant specializing in small businesses Experienced advisers will be able to spot potential problem areas and help determine if the franchise is right for the buyers needs as well as clarifying the terms of complex contracts Many people starting out in business don know who can pro vide the services they need To find good business advisers and gel a closer look at a couple of franchises in operation buyers should talk to owners of sue SERVICESJLTD FOR ALL YOUR MORTGAGE NEEDS CALL CAPTAIN DAVE KRAUSE Persom Serv Greit Rales 8734991 FAX 3931 ire- Summer 1990 TAURUS Cool Down in this Quality Air Conditioned 1990 TAURUS L SEDAN Equipped with many features including Pwr Windows Locks It Cruise Finished in White with Burgundy Cloth Interior now 14899 franchises It useful to talk to less successful franchisees loo Thes can give a clear pic ture of the challenges and risks as well as the opportunities Taking the time to understand everything involved in the business before start up will help ensure success in the long run When entering negotiations with franchise company all buyers want to know how much profit will make Most com panies offering franchises try to give new investors a fair picture of income potential but they can be driven by onesided interest in corporate profits alone Fran chise earnings vary widely depending on the location size stock and staff To help ensure a fair return buyers should enquire about com policy on protection of ter Franchisees frequently complain their firm lets shops locate too close to each other Other common complaints in elude companies failing to pro vide promised training and ser vices or charging too much for products the franchisee must buy In the most extreme case a dishonest promoter might at tempt to sell a business that doesn even exist If outright fraud is suspected in connection with the purchase of a franchise buyers should contact Ontario Consumer Ministry immediately Despite problems statistics showed that more than per cent of new franchise operations survive for at least three years compared with less than per cent for other new businesses says Steinkrauss Franchise operations are also more likely to reach profitability within the first year To receive a copy of the MCCR brochure Facts about franchis call the Consumer Informa Centre at 4163268555 in the Toronto area or collect from area code 807 only From other parts of the province call toll free 1800268 1142 SENIOR CITIZENS APPRECIATION DAY THURS JUNE Tylenol Extra Preparation H Liquid Viva Towels Aspirins Scottres Denture tow Tahsrr Deodorant CALL 877 2761 FOR FREE SHUTTLE BUS SERVICE FREE Blood Pressure Monitor ngatlho Centre EXCEPT PRESCRIPTIONS AND IN STORE SPECIALS 76 MAIN ST S DRAW COUPON Clip Out A In Coupon Box At it or FOR FAST CONVENIENT FULL SERVICE THINK MOUNT ARMSTRONG AVE 8779394