1
Franchise planning overview
A franchise can provide an existing brand and operating system, but it still requires research, capital, legal review, licensing, location planning, accounting, and compliance.
2
10 practical steps
- Research industries and franchise brands
- Review startup costs and ongoing royalties
- Study the Franchise Disclosure Document
- Speak with existing franchisees
- Prepare a business plan
- Choose an entity structure
- Secure financing
- Review lease and location requirements
- Complete licenses and registrations
- Set up accounting and payroll
3
Before you sign
Franchise agreements create long-term obligations. Review fees, restrictions, territory rules, defaults, renewals, transfers, and termination provisions with qualified advisors.