Do u love Business ?!

Posted: February 15, 2010 in Business

Today I was reading Entrepreneur magazine and I noticed some thing might be interesting to you if you are looking for franchise opportunity , This 9 Steps will help you to see if the franchise worth it or not :

1- Check The Track Record :

Start by asking how long the company has been in the business, for instance more than a dozen start their business that same year . that mean the franchisor doesn’t have a lot of expertise with the concept that it can share with franchisees .

2- The Management :

You have to know how much experience the management team has in the business sector , if they have never operated retail business before that’s mean they don’t have a lot of expertise to share about how to do it.

3- Check The Paper work :

Some new franchisors start selling franchises before they are legally registered to do so . Be sure the offer is valid where you want to open a unit .

4- Read The Financials :

Franchisors provide an audited financial statement that reveals their own operating costs and profits .

5- Ask About The Growth Plan :

Before you open a franchise make sure your region is a priority for the franchisor.

6- Inquire About Training  :

Franchisors should be hiring experienced franchise managers who can present full training program “That’s a big part of what you are paying the fee for” .

7-Talk to the franchisees if there are any :

If possible meet them  and ask if you can spend the day at their store , while you are there ask about their experience with the franchisor, Find out what made them decide to purchase the franchise and whether they would do it again, knowing what they know now. Find out if the franchisor is helpful accessible when there are problems .

8- Take Your Time :

be wary of any efforts by the franchisor to rush you into signing on to open a franchise .

9- Consider Your Background :

You have to know the skills and experience that you have and would help you to start up the franchise .

P.S : If there is some thing you want to ask about or need more explanations please do not hesitate! 7esat seghaar Al mostathmeren Entahat , Narakom Bel class Al Qadem :r

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Comments
  1. faith says:

    🙂
    thanks
    I have a business test and I’m sick of the entire topic but this one is light and quite useful 🙂

  2. bla says:

    sounds easy bss lama it6abiq allah layraweek shlon 7osa:p lemon-aid

  3. Miss LuLu says:

    Usually, “business” talk is so complicated, or it’s so boring that I lose interest. Your post was nice and light read. Very easy to understand, and most of all, it was interesting 🙂

  4. ba6alah says:

    faith : zain ashwa :]

    lemon-aid : akeed it’s not easy but i tried to explain it in simple way

    Miss LuLu : “Everything should be made as simple as possible, but not simpler.” Quote from Einstein :]

  5. msha3erha says:

    I like points 4 and 5 in particular (y)
    Good and nice post 🙂

  6. ba6alah says:

    msha3erha: Thanks, long time ! :]

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