Buying a Franchise

Benefits

Franchising allows you to start and run your business with a very high success rate. When you buy a franchise, you receive many benefits, among them:

  • Proven and successful way of doing business
  • Established and recognizable brand name
  • Comprehensive training and support system
  • Professionally designed marketing and advertising programs
  • Other franchisees as a network of advisors
  • Lower costs from suppliers of different products and/or services

Do Your Research and Assessment

Like any other businesses, franchising contains certain risks. However, you can avoid many risks and increase your confidence and chances of success in franchising by getting professional advice. We recommend you to do some „homework” prior to seeking outside expertise:

  • Learn about franchising
    • Surf the internet
    • Read business publications
    • Visit franchise trade shows
    • Read books
  • Evaluate your personality and skills
    • Management skills
    • Technical skills
    • Willingness to take risks
    • Ability to follow someone’s rules and procedures
  • Assess your financial situation
    • Personal finance
    • Additional financing available
  • Think about your preferences
    • Target market
    • Industry and sector
    • Full time vs Part time
    • Single unit vs Multi unit
    • Investment level
    • Income and ROI expectations
  • Get information about franchises
    • Internet
    • Franchise directories
    • Consumer business publications
    • Trade shows
  • Conduct a basic research on competitors and market trends

Get Professional Advice

After you have done your “homework”, we recommend you to look for a professional advice in the following areas:

    • Market research
    • Feasibility study
    • Legal advice
    • Negotiations with franchisors

We can assist you at every stage of choosing, buying, setting up and launching your franchise to make these processes more effective in terms of time and costs.

To find out more about buying a franchise and how we can assist you, call on +371 29 558 222 or e-mail us at info@francity.com.

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