HOW DO I BUY FRANCHISE?

In this blog we will look at the questions need to be considered before buying a franchise . Firstly we will discuss about buying a franchise so we look at the following questions:

HOW DOES FRANCHISING WORK?

In the above question we will cover the types of franchises like licensing, dealership franchising, conversion franchising, multilevel marketing and business format franchising.

IS FRANCHISING RIGHT TO ME?

Buying a franchise from an established, growing, and ethical franchisor can have a many benefits as well as drawbacks. Merits of franchising include marketing research, brand strategy, existing customer, training, advertising power and complete package. However the drawbacks involve the franchise fee, franchisor control, royalties, advertising and lack of goodwill equity. Although it also franchisor also look the personal skills which suits for being a franchiser.

HOW DO I CHOOSE A FRANCHISE?

These is full process you should go through before buying a franchise but the main three things you should keep in mind are minimum investment, initial franchise fee and required capital; also, assessing the franchisor, assessing the opportunity and buying an existing franchise.

HOW CAN I FINANCE A FRANCHISE?

You should keep in mind the financial requirements and sources of finance like personal sources, government programs, banks and investors.

WHAT ARE THE CONTRACT ISSUES?

Lawyers working on behalf of the franchisor prepare the franchise agreement to ensure that every sentence of every paragraph benefits and protects the franchisor. Your interest in the contract is to make sure that you understand the implications for each of its provisions, and decide whether or not you are willing to accept those conditions.