How do you find a franchise?
Table of Contents
How do you find a franchise?
8 Steps to Finding the Right Franchise
- Define your goals.
- Identify some franchise options.
- Make initial contact.
- Identify their processes.
- Evaluate the franchise documents.
- Interview existing franchise owners.
- Attend discovery day.
- Execute the franchise agreement.
Why is franchising popular?
The primary reason most entrepreneurs turn to franchising is that it allows them to expand without the risk of debt or the cost of equity. First, since the franchisee provides all the capital required to open and operate a unit, it allows companies to grow using the resources of others.
How do I search for franchise opportunities?
Search franchise opportunities based on investment level, territory and location, type of business, and industry. It’s simple to use, quickly leads to the results you want, and will have you on the road to franchising in no time.
What is the law of franchise agreement in India?
In India, all the contracts come under the purview of the Indian Contract Act, 1872, which is based mainly on the English Law Principles. The agreement to the franchise is a standard printed agreement which deals with rights and obligations of the licensor and licensee.
Why choose a reputable franchisor?
Reputable franchisors conduct market research before selling a new outlet, so you will feel greater confidence that there is a demand for the product or service. The franchisor also provides you a clear picture of the competition and how to differentiate yourself from them. Finally, franchisees enjoy the benefit of strength in numbers.
Is there any interdependence between the franchisor and the franchisee?
There is considerable interdependence between the franchisor and the franchisee. Some examples of today’s popular franchises are McDonald’s, Subway, Domino’s Pizza, and Bata.