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Do Homework Before Bringing the Biz to the U.S.

My advice to anyone considering bringing a business to the U.S. is to really learn the ins and outs of the laws on franchising first. Don’t just leave it to an attorney to do the work for you. Get involved in the preparation of the UFOC (Uniform Franchise Offering Circular) from the beginning, and your fears will start to dissipate.

I started the process two-and-a-half years before actually arriving in the U.S. on Aug. 2, 2002. The fear simply comes from lack of knowledge. Once you have confidence in the process, you can focus on developing the concept without the feeling that you are walking on eggshells.

One more very important thing to remember is you must have ample liquid cash available. When you come to the U.S., you start with zero credit irrespective of how high your credit rating was in your own country — even getting something as simple as a cell phone can be a challenge. The zero-credit situation crops up when looking for offices, cars, and equipment if you are expecting to lease or finance.

Victor Clewes




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