Before embarking on the quest for your future franchisor, it is essential to thoroughly analyze your future activity and the state of the market (national and local). This is an essential prerequisite before meeting franchise networks that offer collaborations in this sector of activity.
A good mastery of the activity and the market will allow you to better select the networks which correspond to your expectations. Thus, you must list the criteria which seem essential to you in setting up your project (activity, location, exclusivity, implementation budget, etc.). For business for sale in Indonesia this is important in ads.
Educate yourself properly about franchising
If you aspire to start a franchise, you need to learn about how a franchise collaboration works in order to fully understand all the workings of this cooperation formula.
For this, we offer several publications on this topic:
- The pre-contractual information document
- The advantages and disadvantages of franchising
- The business plan for creating a franchise business
- The franchisee's obligations
- The franchisor's obligations
- The franchise contract
Select and meet several franchise networks
Once your checklist of essential parameters has been established, it is necessary to select the franchise networks that may a priori correspond with your project and then get in touch with them.
Even if you have a first crush on a brand, you have to meet others in order to compare the proposed collaborations. You will thus be better equipped to pass judgment on what is on offer and perhaps decelerate other opportunities. For business for sales you need the best ads.
Consider talking to franchisees from the coveted network
During the assembly of your franchise business project, it is important to meet franchisees from the coveted network. The feedback obtained by these professionals on their collaboration with the network constitutes valuable information.
Thus, you will know more about the strengths and weaknesses of the network, the profitability of franchisees, their difficulties, their opinion on initial training… You have to meet several franchisees in place, this allows you to compare the responses of each and 'get a relevant point of view.
Finally, it may be interesting to find out about the causes which have possibly pushed certain members of the network to leave it (financial difficulties, end of the contract, retirement…?).
Take the time to decipher the DIP and get advice
The pre-contractual information document (PID) contains key information on the collaboration offered to you: identification, history, development and presentation of the network, state of the local market, conditions of the future franchise contract, etc.
First of all, it is necessary to verify that the DIP contains all the mandatory information, then to ensure that the elements which appear there correspond to your criteria (evolution of the network, financial conditions, duration, training, establishment).
If possible, it is advisable to be assisted by a professional specializing in franchising to analyze the content of the PID.
Set up your business plan with an accountant
To secure the financial aspect of your franchise creation project, it is advisable to be assisted by a chartered accountant to prepare the forecast . Even if the franchisor offers to give you a business plan, it should be personalized with your own elements and get an outside analysis.
Initial training provided by the franchisor
The quality of the initial training offered by your franchisor impacts the success of your project. This is an essential step in its implementation, through which the franchisor transmits its know-how and methods to you to carry out the activity.
At the end of your initial training, you must be able to meet the expectations of your customers from the start of your activity. It is necessary to ensure that the initial training is of a sufficient quality to allow you to start in good conditions.
For this, you can try to get the details of the training plan from the franchisor. In addition, the feedback from franchisees already in place on the initial training they have taken is also interesting.