Alert
Close

Tell the U.S. Department of Labor to Close the Retirement Loophole! Learn more

Highlights

Open

Work & Money
webinars

Becoming Your Own Boss: How to Write a Winning Business Plan

Learn why it is important to have a small business plan. Register

Resources

Use these Small Business Administration tools and tips to build your business.

 

AARP PROGRAMS

AARP Participated in ‘Small Business Saturday’

AARP participated in Small Business Saturday on Nov. 29. View a blog about AARP’s role in that effort.  Read

In Search of a Second Act: The Challenges and Advantages of Senior Entrepreneurship

AARP testimony to the Senate Special Committee on Aging and Committee on Small Business and Entrepreneurship on the challenges and advantages of senior entrepreneurship

Best Employers for Workers Over 50

See the latest winners of this AARP recognition program.

Employer Resource Center

Attract and retain top talent in a changing workforce.

Franchises Under the Magnifying Glass

How to choose the right company and get resources to run your own business

5 Steps to Get Started


En español

  1. Do your research. There's no shortage of franchising information out there, which is fitting given there's so much to learn, from nuances in your contract — which are virtually always non-negotiable — to the myriad fees a franchisee pays the corporate office. Go to Franchising Resources

  2. Consider using a franchise broker. Unlike franchise consultants, franchise brokers representing numerous companies are paid by the franchisor and offer their services for free to the prospective buyers, similar to the way headhunters and executive recruitment firms work. Professionals with experience in the industry, brokers can provide guidance, although many franchise buyers do successfully go it alone.

  3. Contact the franchise. Franchise websites will have contact information for prospective franchisors; usually you'll send an e-mail or fill out a brief form, and wait to hear back from someone. If, after talking to the franchisor, it's clear that you and the franchise may have a future together, you'll move on to the next step: the application process.

  4. Fill out an application. These forms get pretty personal, understandably. You'll have to disclose your assets, submit to a background check and authorize a credit check.

  5. Hire a franchise attorney. Before you sign any contracts, consult a franchise attorney. Although you may wind up paying as little as a few hundred dollars, if there's a lot of negotiating involved you'll pay considerably more. But using an attorney can save you from a financial crisis down the road, so it's worth the money.

Continue With 5 Red Flags to Watch For >>

Topic Alerts

You can get weekly email alerts on the topics below. Just click “Follow.”

Manage Alerts

Processing

Please wait...

progress bar, please wait

Tell Us WhatYou Think

Please leave your comment below.

Jobs You Might Like

Discounts & Benefits

From companies that meet the high standards of service and quality set by AARP.

UPS Store membership discount aarp benefits

Members save 15% on eligible products/services, 5% on UPS shipping at The UPS Store®.

membership adt

Small business owners save 20% on new installation of any new ADT security system.

Woman holding smartphone in city, Google map tool

Members can find discounts on the go via the AARP® Member Advantages Offer Finder mobile app.

Member Benefits

Renew today! Members receive exclusive member benefits & affect social change.

Advance your skills. Transform your career.

Explore your learning possibilities.