Franchising

Discussion in 'Growing and Managing a Business' started by JPM, Jul 22, 2011.

  1. JPM

    JPM
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    Does anyone have any experience on BAF of franchising?

    If so, I have a few questions.

    • How long have you been doing it?
    • What investment did you make to enter?
    • What advice would you give to a newcomer to the industry?
    • Which country do you reside in?


    If you only want to give a little info' that's fine. I am curious about the industry and what benefits/pitholes it may entail.
     
  2. Clint Cora

    Clint Cora
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    I never had direct experience but there are franchise shows here in Toronto on a regular basis where not only are major franchises there to display but there are usually seminars for potential franchisees. These would be great to check out if any are in your area.
     
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  3. JPM

    JPM
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    I had thought about something like this, but to be honest I wanted to hear first hand from people with a more 'balanced' opinion.
     
  4. Fergal

    Fergal
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    I've never owned a franchise business myself, but I have spoken to franchisees and heard franchisors speak at conferences. The first tip I would give someone considering a franchise is to talk to other franchisees already using that system, don't just talk to the ones mentioned in the company's documentation or those given as references, talk to a few that the company never mentioned to you. Ask them how they are getting on and if they would recommend that particular franchise.
     
  5. sigma

    sigma
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    If you are talking about franchisees, it is pretty simple. You need to go to the HQ/related department and ask for it. Normally they will give you a list of requirement ( the main point is how much you gotta pay them to set up the shop). If you agree with that, you gotta pay deposit, then both party need to provide documentation for registration. After everything done and payment sent, they will set up the shop and provide training for you.

    If you are talking about franchisor, you gotta check with your government, they will tell you what is the requirement, this involve more such as fund, account etc. Everything need to be audited, normally those co. Ltd. Will hire an adviser to work on it.
     

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