How To Start A Franchise

Learn The Ins and Outs Of Starting A Franchise Business

How To Start A Franchise | Commercial Capital Training GroupFor emerging entrepreneurs thinking about starting a franchise, there are a number of critical steps necessary to get from the dream of owning a turn-key operation to actually holding your grand opening and making that first sale.

Steps like speaking to a lawyer, creating a budget, speaking with other franchise owners and doing your due-diligence are all very important to how to start a franchise.

We have gone over the top franchises and compiled a list of all of the steps needed to start a franchise.

When starting a franchise business, it is important to understand that there is an entry fee, and a total franchise cost. Some franchises, for example, can be run out of the home and have very little overhead. Starting a small scale franchise like this usually entails a cost for branding, training, marketing materials, and access to the franchisor’s support network. On the other hand, when people ask how to start a franchise in the hotel industry, the buy-in fee can be upwards of $5 million, including construction, hiring and training staff, logistics, advertising, licenses, zoning permits, supplies, and everything else. If a particular franchise interests you, check out what the total cost is, and match it against your budget. You may need to seek additional financing to start a franchise business, but there is no sense going into massive debt to start a franchise, only to have the majority of your revenue going to pay off bank loans.
There are many resources online that people can use to see all of the financial requirements needed to start a specific franchise. Starting a franchise – financially speaking – goes well beyond what you are willing to spend. When researching how to start a particular franchise, it should be noted that some require potential owners to have a certain net worth. If that requirement is outside of your financial comfort zone, then it might be time to look at starting a franchise in another field. Remember that starting a franchise is supposed to be a win-win for the business owner and the franchisor alike, and if you are going to be financially unstable by putting yourself outside of your budget, then neither party will be successful. The only difference is that the franchisor will be able to move on to another entrepreneur, and you will be stuck with a lot of debt and broken contracts.
If you are thinking about starting a franchise, sometimes it is best to talk with other franchisees to get their perspective. They will give you an idea of how long it takes to start a franchise from the initial application to being able to make sales; how much of their own money was required, if they needed additional funding and where they got it; how long it took from the initial investment to turn a profit they could put in the bank, and what the franchise support network is like. Franchisees are usually very candid with their responses, and it will give you a good idea about how to start a franchise, and if this is the particular franchise business you want to own.
There is nothing wrong with talking with a franchise representative in order to figure out what it takes and how to start a franchise business. They will tell you directly what they are looking for in candidates, how much money is actually needed, what your net worth should be, and what kind of support they will offer first-time franchise owners. It also never hurts to put in some face time to make an initial impression and let them know you are interested. If anything, the franchisor will supply you with some guidelines on how to start a franchise and what they offer business owners.
After the research, the financial planning, and the official interview, the franchisor will make a contractually binding offer. At this point – before signing your name to anything and starting your own franchise – enlist the services of an attorney. Let them go over the contract and have them explain to you what is legally required of you, what you are not allowed to do, and if there is anything in the fine print that might be a hindrance later on down the road. While starting a franchise requires these contracts, the language is not always set in stone. If you feel any point needs to be clarified, or if you want to attempt to negotiate anything, work with your attorney and reach out to the franchisor.

Own And Operate A Commercial Finance Business

If you are serious about starting a franchise to achieve success and financial independence, consider the Commercial Capital Training Group Program. The Commercial Capital Training Group (CCTG) is very similar to a franchise in that it offers in-depth training and an extensive support network comprised of individuals with decades of experience. But that’s where the similarities end.

CCTG gives you the opportunity to own your own business, create our own branding, and have limitless earning potential in the world on commercial finance. We will show you how to bring business owners and lenders to the table so they can come to an agreement, and how you can walk away with not only a share of that deal, but how to create recurring residual income from those contracts. On top of that, we will actively promote your business so that clients come to you for their financial needs. Many graduates from our program make more from a few deals through our recession-proof business model than most traditional franchise owners make in a few years.

All business owners need money. Lenders have the funding that business owners need to launch and sustain their operations. The Commercial Capital Training Group will tech you to be the intermediary between those parties and how to get your fair share for making the magic happen.

If you ever dreamed of owning a business that is much like starting a franchise, but with the added perks of limitless profitability, and a business you can call your own, take a look at what the Commercial Capital Training Group can do for you today.

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