Starting a franchise business is a great idea if you decide to become an entrepreneur. The statistics are relentless - most start-up businesses will close in the first five years. Do you want to avoid this? Then it is worth concluding an agreement with the franchisor.
Instructions
Step 1
It is very good if you have a familiar businessman who can provide you with support at first, advise on emerging issues. If there is no mentor, then you will have much more difficult. But you can always open a franchise business, then you will have an experienced mentor - a company that has already achieved success in the market.
Step 2
Franchising came to Russia in the 90s. At first, he was perceived with distrust, but over time, the situation has changed. Now, many aspiring entrepreneurs are looking to buy a franchise in order to pursue less risky business activities. A franchise significantly increases the chances of a business for success.
Step 3
If you want to open a franchise business, study in detail the information that is available on the Internet. The catalog of franchises will help you, so you can decide on a niche. As a rule, franchising of shops, cafes and other enterprises in the service sector is the most popular.
Step 4
The opening of training centers, construction companies, and gyms is no less popular. As you can see, a franchise is a great opportunity to change your life and become a successful entrepreneur. You just need to choose the field of activity to which you have a soul.
Step 5
So, you are about to start a franchise business. Start by working out the contract, this is a very important point. Collect as much information as possible about the franchisor. A seller who really values his company and cares about his reputation does not hide information about his company, willingly talks about achievements, strategic goals, open subsidiaries.
Step 6
Pay close attention to the "daughters". Their success is the main sign that you should cooperate with a franchisor. Contact representatives of subsidiaries and ask questions. In any case, it is worth reading the catalog of franchises thoughtfully, you should not concentrate on one enterprise, choose several options.
Step 7
Be sure to carefully study the terms of the contract. Remember that you do not just have to buy a franchise, you must also be ready to fulfill certain requirements of the franchisor, who has the right to conduct checks and even penalize for non-compliance with the clauses of the agreement.
Step 8
Don't be afraid of difficulties. Starting a franchise business is still easier than storming the heights of the business alone. Frachising has helped many aspiring businessmen to succeed. You will be assisted with the purchase of equipment, raw materials, and will prompt you with which suppliers it is worth working with. In addition, you will be constantly consulted and again consulted, and this is very important, because a novice entrepreneur always has a lot of questions.
Step 9
Of course, a franchise costs money, no one will help you for free. Its cost can be different, it all depends on what price segment and niche you want to focus on. The price can start from a few thousand dollars and go up to hundreds of thousands when it comes to a luxury brand. Look through the catalog of franchises, choose a suitable option, after that you can buy a franchise.
Step 10
Many franchisors do not just advise on issues, but send a field specialist to help a novice entrepreneur. But not all companies offer such a service, so you should carefully study the terms of the contract before opening a franchise business. Remember that you will have to deduct a certain percentage of the possible profit to your "patron".
