Since the establishment of a franchise is so time-consuming and expensive to do better, that you really done all your homework to confuse research and lessen the chances for a big and lose all your time, effort and money.
I know that you can dream of you own your own franchise, and it sounds so grand and impressive, but please also very realistic and some cold, hard look at the facts. Find should be completed approximately six months to a year in order and onlyWhen the green light is given there, you can begin to think seriously about the possibility of owning a franchise.
The first franchisee is always the hardest to get. This is because your franchise model and have no track record, it is difficult to trust the people. In fact, they are at greater risk through the purchase of your franchise instead of another that has a proven track record.
For this reason, you find that you need to make an attractive offer couldTerms to potential franchisees such a lower initial payment, payments buy the franchise license or a lower rate of royalties. This is only fair, since that first franchisee will help you develop and prove your franchise model and taking a larger risk because of it.
Suppose your first franchisee is doing well you can make your rates and initial payments for future franchisees to increase.
The success of this first franchisee is absolutely a critical momentfor the future of the franchise itself. In short, they need to succeed. Thus prepared, all the hours it takes to support and ensure they guide you that it's made.
In the next article we will look at the importance of the interview and selection of the right kinds of people to your franchisee.
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