Franchising is an option for business owners looking to make the leap from employee to owner. For a fee and startup costs, franchisees get to use a company’s name and business model with the assurance that they will receive support from the parent company in the form of an operational manual and dedicated corporate support. While the initial start-up cost can be steep, many successful franchisees are able to turn a profit and become a part of a growing business system.
The first step is researching franchising opportunities.떡볶이 프랜차이즈 It is important to find a franchise that aligns with your strengths, goals and lifestyle. Franchisees typically undergo a rigorous vetting process before being granted a franchise. You will want to consider the brand’s popularity, its potential for growth and whether the company has a good track record in terms of providing a return on investment.
Once you have narrowed down your options, visit the company’s website and read the franchisee agreement. The agreement will detail a variety of issues, including the rights and responsibilities of both the franchisee and the franchisor. You will also want to review the company’s financial resources and the level of support it provides its franchisees. It is important to work with a legal advisor and accountant when reviewing contracts and crunching numbers.
In addition to initial franchise fees, you will have to pay for supplies and equipment, insurance, business licenses, landscaping and signage. The parent company may have an approved list of suppliers for certain products, which can save you money and maintain product consistency. You will also need to pay a royalty fee, which is a percentage of your sales that goes back to the parent company.떡볶이 프랜차이즈
Once your business is up and running, you will need to hire employees. The parent company will likely have a set of job descriptions that you can utilize, which can save time when recruiting. They can also provide you with an internal job posting system to help you locate employees in the same region as other franchisees, which can increase the chances of finding a suitable candidate faster.
Once your business is profitable, you will need to continue paying royalties to the parent company. The amount you owe will vary depending on the contract, but it can range from 4% to 12% of your gross sales. You will also be expected to pay a one-time go-to-market fee that includes advertising expenses.