Are you a Texas resident or new in Texas and looking for franchises for sale? Well, these article focuses on some types of franchises you can buy in Texas. It also focuses on some rules that govern franchises sale in the state. There is a lot of information online relating to how to purchase a franchise. When starting to buy any franchise, you will need to research things like the brand name, location, supporting services, competition, and franchise fee. This information will give you an open mind on what you need to buy such a business. Finding the right opportunity may be tedious, but it will save you from wasting unprecedented sums of money and experiencing the heartache of failure.
Tips for buying a franchise
Buying a franchise is the best alternative if you are planning to start your own business. This is because the business has already been established and has frequent customers. The former owner of the business has done a lot of work for you, so all you need is to continue running the business. Follow the tips below to ensure that your franchise buying experience in Texas is a success.
- Conduct a research- a wrong decision takes a second to make, and for others, it takes a lifetime to make right. Before deciding on the franchise to buy make sure you know everything about the business. To start your diligent research, you can read the Franchise Disclosure Document (FDD) to find out details about the franchise, initial fees, investment, obligations, bankruptcy history, and litigation. Research on what your role will be as the new owner, the relationship between the franchisor and his/her lenders, future expansion plans, franchisor’s reputation in the market and the amount you will need to invest in setting up the business.
- Access the location- one of the most important factor to a successful business is its location. Access the current franchise location and any possibilities for expansion. Research on whether the business can operate well in another location.
- Review the franchise agreement and other documents
- Consider the costs- The franchisor might want you to buy some additional costs such as landlord’s legal fees, administrative costs or accounting costs. So before buying the franchise, it’s imperative to consider the costs and evaluate whether you can afford the extra costs or not.
Franchises for Sale in Texas
With knowledge of the tips you need to buy a franchise, let’s consider some open franchises in Texas. There are many franchises opportunities in all cities in Texas. However, the most common ones are the oil and gas products, chemical manufacturing, petroleum manufacturing, and computer equipment. You can also buy small businesses such as hotels, boutiques, and groceries among others. With a population of over 29 million, a franchise in Texas is meant to succeed.
You can buy a franchise from any city in Texas. However, buying one that is located in the main cities such as Austin, Houston, San Antonio, or Dallas guarantees more success. The low state is a good place to do business mostly due to its low taxes. Some franchises for sale include:
- ANDY OnCall
- Garlic Jim’s Pizza
- Blue Coast Savings Consultants
- Background Screeners of America and much more
Laws governing franchise sale in Texas
Texas is not a franchise registration state, but all businesses are regarded as business opportunities. All businesses must be registered for a chance to operate in Texas. To sell a franchise in Texas, you must file a “Business Opportunity Exemption Notice.” You don’t need to register the franchise, but it’s required you issue your Franchise Disclosure Agreement at least 14 years before accepting money from a franchise.
For a successful franchise sale, you must consult a specialist who understands all the laws in the state. Texas is the best state for your business needs as it not only has low rates but offers low cost of living, high education quality, and first-class transportation network.