You will need
  • - documentation/permissions;
  • - business plan;
  • - start-up capital;
  • premises;
  • - staff.
Conduct market research. Find out exactly what did your competitors, what they did and what not. You can do this by simply becoming a client or customer in these companies. Consider also the amount of profit that they get during promotions or other trade actions (methods) to implement their products.
Create your business model, which will differ from the existing players in the market. Use the information and data you gathered during market research, companies and promotions. Pick only the most effective methods and then convert them in a new direction, creating a unique product or service. A successful franchise is becoming such in the case when a business offers the market something new, but at the same time similar to what has already been presented, for example, "McDonald's"
and any other similar eateries.
Find sources of funding for the creation of the franchise. You can use the business loan. It is, of course, risky because of the potentially large interest, but many entrepreneurs start with him. In some cases, you can expect to get grants from the government or from individuals/entrepreneurs that support the industry. Count on getting from $500,000 to $1,000,000. Everything will depend on the size of the firm. But the data for business figures by type of franchising is minimal.
Prepare a business plan. It needs to be done in great detail, pointing out the difference between you and competitors. A business plan must assess the potential profit and a plan to run the franchise. Attach copies of market research and competitors that you've done before. Will it be a guarantee that you will provide start-up capital. Investor it is very important to see benefit to themselves from the future of the enterprise.
Collect all standard package the document for launching business-type franchise. Get permission from all authorities to open businesses (housing Department, fire Department, tax Inspectorate, etc.). Get written permission from the Executive authorities in your area. Invest the received funds in the construction business, the training system (training) for staff, marketing and promotion.