Why to Buy a Franchise
Advantages of Buying a Franchise
One of the biggest advantages of franchising is that the company is already a well known brand on a regional or national scale that should have value in the eyes of customers you're trying to attract. Another advantage is that a good franchise compan has trainin programs designed to bring you up to speed on the most succesful methods to run the business.
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One of the most popular franchises is McDonalds. Roughly the cost of a restaurant ranges from £125,000 to £325,000. To set up your own McDonalds you need to provide at least 25% of the funds the other 75% can be raised through a bank loan.There's also a training deposit of £5,000 which is refunded when you complete your training, along with a one-off franchise fee of £30,000. There are also royalty payments such as rent, a service fee and contribution to the national marketing spend.
How to Buy a Franchise
- Find a Franchise Concept that Fits
- Submit Request for Consideration/Application
- The Franchise Disclosure Document (The legal stuff)
- Training and Support Overview
- Franchise Disclosure Review
- Franchise Due Diligence
- Celebration or Discovery Day