The franchise process By: Osvaldo M. & Brayan P..

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Presentation transcript:

The franchise process By: Osvaldo M. & Brayan P.

Choosing the right Franchise  Choosing the right franchise is a crucial step, making sure that the franchise you chose is the right one for you. Make sure you have interest in or have past experiences. Also that the franchise is financially right for.

Can you afford that Franchise?  There are many cost that go into buying a franchise like franchise fee, legal fee, supplies and working capital. Take your time to make sure that you have the right amount of money needed to start you franchise.

Documentation  This step is the most important step because it takes care of the legal and business part of the franchise process.  For this step your going need to hire a franchise attorney so he can go over the plans and documents with you and the franchisor.

Business Plan  If your planning to own a business or franchise you should create a business plan to help map out how you pay back your lender back. A business plan will help your lender understand what he is investing in and it well help in how you are spending the money and the terms of payments.

Subway  Total investment: $84,300 - $258,300 Franchise fee: $15,000 Ongoing royalty fee: 8% Term of agreement: 20 years, renewable  Qualifications Net worth requirement: $30,000 - $90,000 Cash liquidity requirement: $80,000 - $310,000 Business Experience: General business experience  Operations 65% of all franchisees own more than one unit  Number of employees needed to run franchised unit: 6-10  Absentee ownership of franchise is NOT allowed. (100% of current franchisees are owner/operators)