That said running your own franchise can be rewarding and lucrative look to these dozen steps that can guide you from conception to opening day 1 list your top companies or businesses when putting together a list of franchises youd like to own start by thinking about your favorite businesses consider your strengths weaknesses and passions against what you think could make you money. Set up an inviting location for the franchise you will need an area to operate the business and you can either rent a space or buy a whole floor or building after meeting all the requirements needed to operate a business in the location youve chosen its time to furnish the area to make it look inviting to potential customers. We understand that starting your own business is a large undertaking that involves careful financial planning the franchise startup costs vary from company to company but many of the requirements are similar here is a breakdown of the costs you should expect to incur the franchise fee no matter which franchise you invest in there will be a franchise fee think of it as the cost of entry . Sign the franchise agreement and make your investment there is an upfront fee paid to the franchisor and usually additional investment expenses such as kitchen or cleaning equipment this is where it all begins if all is going well renew your franchise agreement when it ends to continue your business ownership
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