Hoboken, New Jersey, attorney Thomas Foley presently leads The Indigo Group, LLC (previously Navitas Concepts, LLC), in New York. He also manages a team of professionals in Dallas, Texas, and is in the process of creating a quick serve restaurant franchise in North Texas. Thomas Foley engages closely with potential franchisees to ensure they are well informed of the factors involved in joining a franchise operation.
Becoming a franchisee is a process that begins with due diligence and careful evaluation of whether the franchisor’s operation meshes with the entrepreneur’s vision and business capacities. In order to ensure a good fit, franchisors typically have an application process that includes extensive face-to-face interviews. Once a positive relationship has been established, the potential franchisee is provided with a franchise disclosure document, which sets out details on the overall operations, as well as the guidelines that all small businesses must adhere to in creating a franchise. New team members are also encouraged to observe other locations, in addition to undergoing dedicated operational training. Mr. Foley emphasizes that, while franchises offer a variety of benefits, including a proven support network, they are not a guarantee of entrepreneurial success.