Franchise Business

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A franchise is an authority given by a franchisor(company) to another person or a group to sell its products/services under its name by giving the amount of fees and the person who buys it known as a franchisee, it is a legal process.

For example many famous franchises are McDonald’s, Domino’s, first cry and etc. But before buying any franchise some important points should be clear and kept in mind:

  1. Before taking any franchise market research is essential as without the knowledge of a particular product/service making investment is worthless.
  2. Analysing the investment cost beforehand can be more profitable, and hire a good analyst for making a smart decision.
  3. Competitors in that franchise, it is very much important to keep in mind about the parties providing the same product or service with other brands and comparing their prospects.
  4. Looking for a good location where business can run is the main point.
  5. The taxation policy of a government and permits should be kept in mind.
  6. It’s important to read all the franchise agreements points carefully so that any confusion can be avoided.
  7. It is not necessary to make a huge investment in a franchise, small investments are also very profitable.

Taking a franchise is becoming a trend nowadays but before investing keep in mind the P’S in franchise:

Legal Points
Product’s Popularity
Profitability
Persistence
Positive attitude

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