What is the process of starting a Franchise Operation?
Franchising may appear to be a simple option but in reality it requires sharp business acumen to start and run a successful unit as a franchisee. The following steps are key to making the right start for a franchise operation: • Selecting the appropriate franchise: You need to do thorough homework before deciding upon the kind of franchise opportunity that you wish to go for. The business must match to your interests and skills, the financial requirements must be within your budget, and the business must have a strong future for growth potential. • Understanding the franchise agreement: It is critical to understand all the details of the franchise agreement that is drawn between the franchiser and the franchisee. If necessary, you may hire a franchise lawyer to advise you in this matter. It is important to know all the pros and cons of the business that you are going to invest in. • Verifying the track record of the franchiser: Before going ahead with signing the franchise agreement, y
