A franchise is a concession of rights that a company gives someone so you can exploit a product, a trade name or activity. By purchasing a franchise, the entrepreneur can exploit it commercially but is obliged to respect a number of conditions and, of course, to pay a percentage of their profits to the company that has made the franchise.
The positive part is that it opens a business that is recognized by consumers and has the same quality products and services than any other branch.
Steps to mount a franchise…
Choose the business: We must remember that this franchise is going to take us along time, so the best we can choose is something that we really like and motivates us. Be critical of yourself and analyze your skills and abilities.
Preliminary study of business: We must do a comprehensive study and develop a business plan where we evaluate the costs will have to face and a tight prediction of benefits. Check other branches, collects all the information you can about the business you have chosen.
Seeking legal advice: It is vital that we have a professional with us to inform us of the legal steps that we will have to give, assures us that the company you want to do the franchise complies with all laws and regulations and contrasting the information you’ve collected.
Find funding: At this point we must find ways to negotiate or obtaining necessary to start riding the economic capital franchise. Although due to the current economic situation is difficult to find that financial support from banks, it is easier to achieve if we are under a consolidated company. One of the first payments we have to do from the beginning is to the company and fund lost and responds to the transfer of the brand and business model. This payment varies between 6,000 and 25,000 euros.
Sign a preliminary contract with the company: It is very useful measure to have a first contact with the central and know the actual operation of the company. With this pre – contract one makes a reservation of an area or a place in the company until the franchisor finds the right place.
Find a location: The most important thing is that is the best possible set taking into account the characteristics of the business. Often it is the company which advises the franchisor the right setting.
Constitute society: certain procedures must be performed to establish the company and to this end, decide the legal form to adopt.
Sign the contract: With this step the relationship between the entrepreneur or franchisee and the company is fully regulated. You should pay attention to all add clauses, such as the transfer of the mark, control of the company, etc.
Learning: Before you get to work you have to know every detail of the business activity.
Contract staff: The people who go to hire will be the basis of your business so we must be aware of who these people are.
Taking into account these tips can be successful in your franchise.