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Define ten basic steps for entering franchise

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There are advantages and disadvantages to successfully operating a franchise, yet like anything worthwhile, franchise success requires hard work. Be diligent and research before entering any business mitigates in order to avoid difficulty and disappointment down the road.

Chapters 11, 12, and 13 address the importance of careful consideration before and after choosing to become a franchisee.

Identify, define the Ten Basic Steps for entering a franchise and explain why each step is important to the successful franchisee.

Table 15-1 identifies primary factors to be evaluated when considering a specific franchising system. Explain why these factors are important and how they might impact the success of a new franchise operation.

Chapter 16 details the financial obligations and potential means of financing in a franchising system.

Identify and define the five primary franchisor fees that are customarily paid by the franchisee. What other obligations or requirements may be expected of an owner operator?

Identify the possible sources of capital or financing arrangements available to those considering a franchise. Can you think of other means to finance the upfront capital requirements involved in opening a new franchise?

Reference no: EM132867915

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