HOW TO OPEN YOUR FIRST FRANCHISE

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HOW TO OPEN YOUR FIRST FRANCHISE
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• The opportunities to undertake are very varied -
  and the sky is the limit when choosing which
  business idea you want to pursue. But if you want
  to start a business that comes with an
  established brand and business model, opening
  your first franchise might be a good option.
  (BBGV201120)
• Franchise opportunities Do not forget to do your
  research, having information about franchises and
  entrepreneurship will be essential. Your first
  important decision is what industry you would
  like to enter. Are you passionate about food?
  Take a look at restaurant franchises. Are you a
  gym fan? Check out gym and workout studio
  options. In addition to determining which
  industry to follow considers the initial
  investment required, the competition in your
  area, the training offered by the franchisor, and
  ongoing costs. This information is often found on
  the franchisor's website (for example, Dunkin
  'Donuts, Taco Bell, and Subway). With these
  things in mind, evaluate which franchise option
  is the most suitable for you.
• How to start a franchise Starting a franchise is
  a big commitment, and there are a few things to
  consider. Let's take a look. Evaluate the costs
  As in any other small business, there are upfront
  costs to get your franchise off the ground. Here
  are some common initial investments
• Franchise fee - The franchise fee is the fixed
  cost that a potential franchisee pays in advance
  to operate the franchise. Before looking for a
  franchise opportunity, make sure you can cover
  the start up costs, which typically range from
  two thousand of dollars, depending on the size of
  the franchise. Fortunately, there are financial
  assistance options, which you can opt for. These
  can boost your primary cash investment in the
  business.

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• Equipment and supplies - Franchisors will give
  you an idea of ??what equipment will be needed
  and how to obtain it. Some even offer funding
  options for these early costs.
• Real Estate - The franchisor often provides
  recommendations on the types of locations and can
  advise you on what will work best for your
  business. For example, McDonald's has specific
  requirements for its locations (for example, a
  4,500-square-foot building area and on-site
  parking).
• Requirements of the franchisor a franchisor often
  have requirements of a franchisee before they can
  offer a franchise agreement. common details that
  a franchisor might consider include Net worth,
  Industry experience, Available money, Other
  sources of income
• These can vary depending on the industry you
  join. And it's best to contact the franchisor
  you'd like to work with for more details and an
  application.
• Disclosure document of the franchise The
  franchisor must provide a Franchise Disclosure
  Document prior to signing any contract. It will
  include information on initial fees, estimated
  initial investment, and much more.
• Review the franchise agreement Once your
  application is approved, the franchisor will
  provide you with a franchise agreement. This is
  the contract that you will sign to become a
  franchisee and own and operate a business under
  the franchisor. It can be helpful to hire an
  experienced franchise attorney to help you
  carefully review and understand the agreement.
  When, youre ready, sign up to begin your
  franchisee journey.

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• Choose a location Next, you will have to find a
  place to settle. Depending on the amount of money
  you are willing to pay up front, buying a
  property and renting an existing space are both
  options. And franchisors often give
  recommendations on what type of space will work
  best.
• This is the time to work closely with your
  franchise to ensure that the site you choose is
  the correct size for the store's needs, and that
  the site's traffic patterns and foot traffic
  align with the hours your business will operate.
  franchise. Rental costs are another
  consideration, and it's best to work with legal
  counsel to ensure that the rental agreement is
  the most suitable for you and your franchisor.
• Training It's time to learn the ins and outs of
  the business. Franchisors offer training sessions
  to teach you and your new hires everything you
  need to know about the products or services you
  will sell, the guidelines and policies, and the
  systems you will use. Your franchise will often
  provide you with training on marketing,
  management, and business fundamentals that you
  will need to operate the business.
• Open for business Once your franchisor sends an
  authority person to approve your site, it's time
  to market your magnificent opening. Franchisors
  often have prearranged announcements, signage,
  and promotional ideas for the opening. And they
  can even provide you with a corporate consultant
  to ensure the opening day runs smoothly.
• Congratulations! You are well prepared and ready
  to open. Get ready for your new life as a
  franchisee.
• CONTACT Us
• 450, Mastermind 1, Royal Palms, Aarey Colony,
  Goregaon (E), Mumbai, Maharashtra 400065
• Ph 91 8097027355, 91 9137256150, 91
  9222086563
• Visit http//franchisebirbal.com/
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