International Franchise Bureau

When Lawrence Simms made the decision to invest in either a franchise or business opportunity, he then had to begin the daunting task of finding out which one was right for him. He soon found himself in a confusing world full of similar-sounding pitches, over inflated hype, high pressure sales tactics, and a myriad of advertising supported “informational” websites where he found objectivity was not exactly a given.

“I began to wish that I was shopping for a new car instead – the confusion and frustration would have paled in comparison,” stated Simms. “I just wanted to find someplace, anyplace, where I could quickly get good, truthful information about a variety of different companies.”

His search eventually lead him the International Franchise Bureau (IFB), a relatively new organization promising that they are “Ensuring Fairness & Accountability in the Global Marketplace.” Luckily for Mr. Simms, they deliver on that promise and he now is in the final stages of launching his new business.

“With the IFB website, I was able to find more useful information right at my fingertips than I was able to uncover in over a month of tradeshows and library research,” said Simms. “Before discovering their website, I was actually on the verge of giving up on the dream of having my own business. But they made it much easier to find the right opportunity for my personal taste as well as my budget.”

Simms’ frustrating search for a business is not at all uncommon, but unfortunately his happy ending is. The good news is that as word has spread about the benefits of using the IFB website, located at www.ifbonline.org, many more franchise and business opportunity seekers are more easily able to find out what company is the right one for them.

After a quick look at the very welcoming and easy-to-use website, I have to express my own enthusiasm for the IFB. I understand why the IFB has been receiving such extensive positive exposure in trade publications and websites. The very first paragraph on the homepage got my attention and made me feel confident about their organization:

The IFB is a private, self-regulatory organization composed of forward thinking companies dedicated to promoting fairness and accountability in the franchising and business opportunity industries. We are devoted to providing instant 24/7 access to timely reports, in-depth information about individual companies, their customers’ experiences, and complaint resolution updates.

But what really grabbed my attention and made me realize that the IFB was truly different than other franchise or business opportunity websites was the last paragraph:

The IFB does not promote or endorse any particular company or business. We do not accept advertising, we do not sell sponsorships or private information or names of interested parties for the purpose of profit, and we do not offer special elevated memberships. This is to ensure that we are always objective and fair in our dealings and dispute resolutions.

This refreshing concept is very different than any other association, bureau, or similar organization that claim to be the consumers’ advocate. I won’t point any fingers, but as far as I know every single one accepts advertising or sponsorships. This calls into question the extent of their objectivity and the validity of the information they provide. I am not saying that other sources do not provide good material for research, but their very nature should leave a nagging question in the back of any potential investor’s mind.

As I continued my research into the website, I became even more enthused with what the IFB was doing. An important aspect of the IFB is educating prospective franchisees and business opportunity owners. They achieve this by providing a convenient source of in-depth Company Reports, objective articles, company press releases, testimonials, and other good information. While I enjoyed all of the articles and such that I read, the most useful information was on the individual Company Reports.

The Company Reports are the heart of what the IFB delivers to prospective investors. They can be easily found in a variety of ways and are separated by whether the company is offering a franchise or business opportunity. I put their search engine to the test by looking for companies by name, location, and price range. The results were always relevant and easy to understand.

I found the content of the Company Reports to be very informative and useful. They went beyond the normal company principals, type of business, and contact information that many other sources stop at. I was able to obtain in-depth information about the companies’ training and development programs, business records, start-up costs, IFB complaint resolutions, and testimonials from actual investors. I actually had so much fun reading about such a wide variety of companies that I never even knew existed that I found myself taking off my reporter’s hat and started to dream about having my own business!

Considering how comprehensive the information is, I was surprised to learn that the Company Reports and all of the additional articles are free if the company is an active IFB Member. If the company in question is not an IFB Member, the cost for the Company Report plus the articles is a very reasonable $20. The time saved researching is worth at least 10 times that much. To understand the value, take a look at the list of additional helpful articles received free with each Company Report:

• Consumer Guide to Buying a Franchise
• How to Finance Your Franchise
• I Decided to Buy a Franchise, Now What?
• Preparing a Franchise Business Plan
• Buying and Financing a Business Opportunity
• Business Opportunities for Those Low on Cash
• Most Frequently Asked Questions about Franchising
• How Much a Franchise Costs

I liked the fact that in order to become an IFB Member company, all prospective companies are evaluated to ensure they meet or exceed stringent IFB Best Business Practices for competence, integrity, fairness and service. Only after it is confirmed by the IFB that they meet these requirements can the company be approved for Membership. Upon becoming an IFB Member, a company can display the exclusive IFB Seal. I would suggest to anyone researching franchises or business opportunities to look for that seal, because they can certainly feel confident that that company is one of the best.

As I finished my review of the website, I had to wonder why no one had done anything like the IFB before. Who was behind it? What made them start it? The only way to answer these questions was to contact the IFB itself. I soon found myself involved in an engaging conversation with Shari Puorto, Vice-President of the International Franchise Bureau.

“Quite simply, we wanted to provide a place where any interested party had instant, 24/7 access to the objective information they need to make such a serious decision about their future,” Puorto explained. “We also wanted a quick way for potential investors to identify reputable companies that they could feel comfortable going into business with – that is why the IFB Membership Seal was created.”

I believe that the IFB and Ms. Puorto have achieved and exceeded all of their goals. I recommend anyone looking for a business start at their website, www.ifbonline.org. I also suggest that companies strongly consider becoming an IFB Member. As an observer and reporter for this industry, I am glad that there is an International Franchise Bureau.

A Convenient Source of Reliable Information on Franchises and Business Opportunities