What are the steps to becoming a franchisee?
- History of employment/career, may be in the form of CV
- Initial Interview (Schedule phone conversation, Questions to Prospect Franchisee)
- Due diligence
- Two references, co-workers, employers, employees or formers business partners (their email and phoen number so we can talk to them for 30 min)
- Credit history (showing past loans, bankruptcy, other current liabilities, etc...)
- bank statements showing the amount of money needed to start the business or any other documents proving eligibility to start the franchise
- Cashflows, finacial forecasts and simple (no more than 2 pages) business plan created by the Franchisee
- Signing the agreement
- Franchisee pays any fees that are due
- Initial Training during which
- Set up for email accounts, system account, etc...
- All common functions in the system will be covered
- The Franchisee Manual will be explained
- Explain all processes and case studies
What if my territory is already taken?
- You can make an offer to buy the existing franchise
- You can choose an adjacent territory
- You can form a partnership with existing franchisee