Once you have decided that you wish to start afranchise business you need to choose the company of which you wish to take the franchise. Therearemany options availableand you can choose the company that sells the product or servicethat you can relate to better.
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The first step is to get in touch with the franchisor that is operating the franchise that you are keen to start. When you show your interest to start thefranchise of the company youwill have to full up a form that contains a lotsofdetails about you.
Thequestions may be around your finances. Thefranchisor may also ask you about your personal assets. This is because he needs tobe sure that you have something to fall on to in case the business does not run out asexpected.
You may also have to include details about your spouse’s income. It is important for the franchisor that bothyou andyourspouseareready to takeover thisfinancialcommitment.
You will also have to answer questions about your experience, your background,and your aspirations. Thiswill let the franchisor to known whetheryou are suited or not for the role. Thosewho are successful in carrying out the franchisebusiness model haveto make sure that they apply the system in auniform manner. The franchisor will not want people who they think are too independent or those who they think may start experimenting with the system thatis already in place.
The interview process
Once you pass the test andthe franchisor is happywith your application then the next stepwillusually be where you meet the franchisor. Thisislike a regular job interview. Thefranchisorwill want to understand yourcommitment and your areas of interest. This is also the stage where you should try to get as much information about the businessthatyouwant from thefranchisor.
In casethefranchisorthinks that you are suitable for theposition, then you will be offered a contract that sets out all the obligations that binds boththesides. It is recommended that you get a legal help at this stage so that you know that the contact is fair. Some parts arenegotiable andif there is something that the franchisorhadpromised youabout butis missing, then get thatwritten on the contract.