Let’s be realistic: in order to become a franchisee, one must have at least some financial means; he must find the right brand, but also he has to be chosen by a franchisor. We will try to formulate some general ideas but let’s not forget that there is some specificity to each situation.
For a business entrepreneur, franchising has become incontrovertible in many sectors. Working with a franchisor reassures and makes you gain time. Signing a franchising contract must give you reassurance that the concept was experimented at a pilot point of sale, a guarantees that some services will support your activity. Training provided by the franchisor is an essential for performance improvement in marketing and in the management of the business. Nevertheless, you remain an independent entrepreneur and cannot have all-risk insurance. Franchisors know it and thus have a set of conditions pertaining to the choice of candidates.
The first step is to be sure you have enough financial means. In general, a franchise requires a slightly higher investment than the one needed for an independent business; it is to finance better locations and a more performing business. This will allow you to start in good conditions, to have sufficient stocks in your warehouse, a good settlement, and the means to become well-known. However, you can find franchises for every budget: from 30000 euros up to more than a million euros… In addition, in case you have a staff, you must possess managing capacities acquired either by experience or through training. We can notice that today… continue reading.