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Common Pitfalls In FDD Item 7 During Franchise Due Diligence
Thinking about buying a franchise? Item 7 of the FDD is where a lot of buyers underestimate what it really takes to open the doors and stay afloat. In this Q&A, Beau breaks down the most common Item 7 pitfalls, from underestimating working capital to covering your living expenses during the ramp-up. He explains why accurate projections matter, why you should detail every expense for your SBA loan and plan for unforeseen costs, and why talking to existing franchise owners about their real startup costs is essential before you commit.
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The skinny
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