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Guide To A Successful Franchise

Having decided to become a franchisee in a particular industry, your next immediate step is to look out for a suitable franchise. With large number of brands and franchisors offering franchise opportunities, it is bit difficult to zero down on a particula

By Pallavi Majha Chief Sub Editor

Selection of a franchise based on a particular franchise concept you are interested in, is an important aspect of a successful franchise. Once you have selected the industry you want to take a franchise of, start looking for all the franchisors offering franchise opportunity in that particular sector. As the process of acquiring the franchise takes some time and patience, so do not haste and select a franchisor that is most suitable according to your franchise concept. If you are an aspiring franchisee, learn more about the steps to own a perfect franchise business.

Information extraction

Initiate by letting the franchisor know regarding your interest in his company. Almost all franchisors have their franchise application forms ready for franchisees. The application form contains all the points on which a franchisor would want to extract all the necessary information from franchisees’ end for that particular franchise concept. The form mostly includes sections followed by asking for details for particular sections. The sections are broadly classified under sub heads like personal details, contact details, financial details, experience in business, legal history, educational qualifications and professional qualifications and experience.

Initial meeting

Once the form is submitted the franchise company will get in touch with you. The franchise managers are the ones who usually carry out the interview. As it is the meeting, make sure you leave your best impression. Try to sell yourself and your ideas well to them. Discuss as well as ask questions that you may have in your mind. After this meeting you should be convinced and should have gathered enough information that you wish to know about the brand.

Cross checking

After this meeting, the franchisor from his end will verify all the information that has been provided by you. Your work experience and financial status will matter the most to him. The checklist is important for the franchisor as this is the point where he will make sure if he is giving the rights of his business into the right hands.

Selection

As all the initial information have been submitted, now the franchise managers submit the reports with all the details about you to the franchisor. After a rigorous procedure of submission and meetings then comes the final decision as the team sits together and finalises on giving the green signal to you. It is after getting their approval that you will be the proud owner of the franchise.

The above stages are followed by the signing of the deal, procuring the location, getting the required finances, hiring personnel and finally opening of the franchised store. So if you have thought that the process of taking up a franchising business is lengthy and difficult, so now with all the tips readily available to you, you must be feeling relaxed and motivated to opt for the franchise route.

Comment
s.mishra 03, Sep 2010 at 11:25 PM
dear sir, i am looking for franchise business in bhubaneswar. Please advice me.
AVS Menon 07, Sep 2010 at 06:29 AM
Look for good company's franchise in Navi Mumbai Area.
Angam 07, Sep 2010 at 07:46 PM
Sir, I am interested in ready made garment/shoes business in Manipur State. I have got my own commercial building and kindly send me lists of companies for franchise business regarding
ketan 07, Sep 2010 at 11:28 PM
i think franchiseindia is no. 1 franchise solution company Ketan
jaganath 09, Sep 2010 at 05:26 PM
To whomever it may concerned I am interested in going for a business endeavor/franchise business in Rourkela town of Odisha. Can anybody suggest me something to go ahead with please?
SUKHIJA SACHIN 08, Oct 2010 at 11:30 PM
INTERESTED TO INVEST IN ANY FRANCHISEE, I HAVE SPACE N MANPOWER....GUIDE ME WHERE TO INVEST...
Anoop Kishore Bhatnagar 09, Oct 2010 at 02:30 AM
Dear sir, I wish to start Jumbo King Vada Pava franchise in Delhi. Can the Organization or the FI should send the detailed project on the same. Thanks & Regards Anoop
ideal play abacus india pvt ltd 09, Nov 2010 at 09:29 PM
ARE you interested to be a franchisee in the name of ideal play abacus india pvt ltd.
jainendra 21, Jun 2011 at 09:54 PM
we distribute franchise of IT web solution.interested person can kindly contact me
G.B.Prakash 29, Nov 2011 at 05:34 AM
I have a 500sft fully furnished office space . Pls suggest where to invest in any franchise to give \r\ndecent returns\r\n\r\n
Anandh 03, Jul 2012 at 01:05 PM
Dear sir, i am looking for franchise business / dealer ship / agency in Coimbatore,Tamilnadu. Please Suggest me.
Manan Malhotra 13, Jul 2012 at 04:47 AM
Dear sir/mam,\r\n I am looking for franchise(Back end, Call Centre, BPO etc.) in Meerut city\r\n\r\nPls let me know, if ur company have theses type of facielty.\r\n\r\nThanks & Regards
Aman 16, Oct 2012 at 09:27 AM
D i m looking for franchise for my company
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