Okay, so you’ve finally decided to purchase a franchise business. You’re done doing your research and you’ve found the right franchise company to partner with. After submitting your application, you are now ready to meet with your franchiser to sign up your contract. So what’s next?
Keep in mind that signing up your franchise contract will bind you to the Terms and Conditions of your franchiser. Thus, it is crucial that you clearly understand and that you are in complete agreement with the stipulations in the contract. What are the things you need to know before signing up your franchising agreement?
Ever notice how franchise businesses increase in numbers. Just take a walk down the street and you may find several kiosks, booths or establishments owned by franchisees. Many popular franchise businesses are food chains because of the great demand for food and beverage in the market.
If you have plans to start you’re on franchising business, this article was written for you. First, let’s define the term business franchising more clearly then let’s discuss the advantages of purchasing a franchise.
Business Franchising – Defining the Term
The term “franchise” simply means “business”. All franchise businesses start from one company – the main business or the original company. When you establish a company and it becomes a big hit after a few years, you may want to widen out or branch out to other locations. This is where the concept of franchising comes in.
This article raises a number of important questions and handy hints to consider when assessing franchise opportunities.
Corporate psychologist Greg Nathan talks about the relationship between franchisors and franchisees. Read about what Greg identifies as the six stages of franchise relationships. This model will be of interest to prospective and existing franchisors and franchisees.
Learning about franchising and finding the ideal franchise needn’t be the arduous task it was 10 years ago. Pamela Gold explains how many stages of the selection process can be undertaken online.