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| Cheap Jamie Collins Jersey (17th Jan 18 at 7:41am UTC) | | America is often mischaracterized as a land of giant corporations and big businesses. But the truth that it is a nation of small businesses Cheap Joe Schobert Jersey , many of which started out as franchises. McDonald’s, for example, wasn’t always a global restaurant chain that serves 70 million people a day in over 100 countries. It began as a hamburger stand that was founded by the McDonald brothers in San Bernardino, California in 1940. At the time, franchising was a fairly new concept, but the company took it to a completely different level.
What is franchising?
Although it comes from a French work that means “free,” franchising is anything but. The practice is based on the idea that anybody can be successful if they work hard and follow a proven business model. A company like McDonald’s not only gives its franchisees access to it food and special recipes, it also teaches them how to operate their stores efficiently. Not to mention the fact they will receive all benefits the brand conveys. Most importantly, of course, is a loyal customer base that will stop at any store because they know and enjoy the products they serve. For those reasons, and many more, franchising has gone from a gimmick to a respected business practice in the United States.
According to the U.S. Census Bureau, franchise businesses now account for 10.5 percent of American businesses with paid employees! There are tens of thousands of franchise in America, but only a small percentage of them go national, and far fewer go global. In this article we will discuss what it takes to start a successful franchise.
Look before you leap!
Contrary to popular believe, franchising your business is not always a good idea. Even if your first few stores are successful, there is no guarantee that stores that are controlled by strangers will make you money. In fact, they could end up sullying your reputation if they run them poorly.
It is also important to note that being a franchisor is not a worry-free job. You don’t simply hand your new franchisees your business model and let them figure it out on their own. All successful franchises, from McDonalds to Subway Cheap Briean Boddy-Calhoun Jersey , are intimately involved in training their new franchisees to ensure that they maintain a consistent level of quality and service. In other words, if you don’t have the time to teach others how your business became successful, do not franchise it!
Hire a good franchise law firm!
Successful franchises don’t give applicants a lot of leeway. They have proven business models that they have absolute confidence in, which is why their franchise contracts are ironclad. If a prospective franchisee doesn’t like it, they can go elsewhere. It might seem procrustean, but it works for them. Aspiring franchise owners would do well to follow their lead, which means hiring a franchise law firm to draw up a clear but fair franchise agreement that lets applicants know exactly what is expected of them in plain English.
Since the franchise laws differ from state to state, it is important to contact a franchise law firm in your area. The firm should concentrate on corporate and franchise law and should be able to peruse you business model and plan and determine whether or not it can be easily replicated. Tillmans Roadhouse Dallas Requires Comfort Meals To Elliot Whitaker Submitted 2014-01-14 14:40:50 When enjoying a feature at Majestic 10, 190 Boxwood Street, Williston, VT 05495, the Texas Roadhouse is a short 5 minute generate away at 225 Interstate Company Center, Williston, VT 05495.
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