I’m buying an existing business that happens to be a franchise. Is there anything special I should know or consider?

You should obtain a copy of the franchise agreement and review it carefully. You should also determine if you’ll be required to pay the entire franchise fee, a transfer fee, royalty fees, or advertising fees. In most cases, the franchise will have to approve the transfer or sale. If you are seeking an SBA loan, it is important to determine if the franchise is one that is eligible for SBA financing. For more information, see the SBA Franchise Directory.