How should I complete my application form when buying a franchise?
As a former franchisor and having helped friends buy franchises, I have witnessed many things regarding the filling of franchise applications. A lot of people try to cheat on resumes, but in the franchise world, well, that’s a really bad mistake.
For example, if you lie on a franchise application form and then sign it, you may find that the franchisor in a future legal dispute could use that against you and state that if you had told the truth, they may not have sold you the franchise in the first moment. instead, giving them the upper hand in litigation. In addition to that problem, you are really setting a bad precedent on a franchise application at the beginning of the franchise relationship.
You see, the franchisor will surely find out anyway. It would be the same if you lied to your future husband or wife before marrying them, and the franchise has been likened to some kind of marriage by just about everyone in the industry at one point or another. So do yourself a favor, yes, take your best step forward and do whatever it takes to look like the best candidate of choice, but tell the truth.
Whatever you do, don’t lie about your ability to finance the franchise or pay for it, as you will need working capital and cash flow up front to survive, lying about that could cause you to fail and lose everything. Also, realizing that the franchisor wants a team player, a hardloader, and someone who will proudly represent the brand to the best of his ability, that’s what I’ve always looked for in the franchisees we accept. Please consider this.