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The Franchise Purchasing Process

Discussion in 'Business' started by Didi, Aug 21, 2017.

  1. Didi

    Didi Leading ChatmMate Moderator Watchout - Actively Moderating Privileged

    Business ownership is a dream for many individuals including myself. One of the safest tried and tested ways is franchising. If you want to be your own boss and want to consider franchising, make sure you're finding the best franchise that will work for you. Not in terms of the money and the business interest but in terms of how the franchise partnership process will pan out.

    Franchising simply put is a system of expanding a business and distributing goods and services. In actual facts, franchising doesn’t come easy to the franchisee who is the buyer. There is a process involved which includes application to be submitted, criteria to be met and due diligence from the franchisor and the franchisee. These processes are mapped out clearly below.

    · Finding a Franchise concept that will work for you

    · Submitting Application for Franchise consideration to the Franchisor (the company)

    · Going through the Franchise Disclosure Agreement or what is also called the Legal Franchise Document

    · Undertaking the franchise training and support overview

    · Having the Franchise Disclosure Review or Interview with the franchisor

    · Being satisfied with the Franchise Due Diligence

    · Signing the Franchise Agreement and starting your business

    Since Franchising is a business agreement that is going to last for a long span of time say 10 years and more, it is wise not to go through these processes hastily. Your life and your dream of owning a business is linked to your thoroughness of the franchising process.

    If some procedures in these processes don’t sit well with you, seek the services of an experienced franchise lawyer or better still, walk away from that Franchisor and the find another.

    Achieve your dream of owning a business today. Find a franchise concept that will work for you and take the leap by submitting your forms for consideration.
     
  2. Faustinus

    Faustinus Addicted ChatMate Moderator Watchout - Actively Moderating Privileged

    Interesting to know you also an aspiring business owner. May be we should discuss your idea. if you like.
     
    Didi likes this.
  3. Didi

    Didi Leading ChatmMate Moderator Watchout - Actively Moderating Privileged

    Good to know you are one too. We will discuss the idea but that will be in private though. I wouldn't want us to shift the focus of this topic to my business idea. I want readers to be caught by this topic. It's great to know I can talk to you. Thanks
     
    Faustinus likes this.
  4. Faustinus

    Faustinus Addicted ChatMate Moderator Watchout - Actively Moderating Privileged

    Ok, private was just what I also had in mind. Please state the where and when.
     

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