What are the steps involved in opening a franchise for a beginner?

Published on : 21 April 20203 min reading time

Opening a franchise, in order to put all the chances on your side, must be a well-founded and well-considered project, especially when you are still a beginner in the field. Concretely, creating a franchise consists of a succession of steps to be implemented until it is a success.

Choose your future sector of activity while thinking about the financing of the project

What you need to do before your project is carried out is to determine the sector in which you are going to carry out your activity, without forgetting to know the budget you need to devote to carry out the project. In principle, creating a profitable franchise in France can indeed extend to a range of areas such as restaurants, real estate, shops, personal services, and so on. Just keep in mind that some professions require a specific diploma and others do not really require technical skills. So, before you decide anything, please take some time to think it over. You can also choose the sector that fits your budget. Above all, don’t forget to analyze the market to increase your chances of success, for example, develop a competitive analysis. On the other hand, it is important to know the minimum amount of money required to open your franchise business. Of course, you can cover part of this amount with your personal contribution. For the rest, you can approach the banking institutions or of course the aid schemes for creators.

Determining your franchisor

Bearing in mind that franchising is a model of network development based on a contract of collaboration between franchisor and franchisee, before jumping into the fray, it is necessary to determine the franchisor to be attached to. This is obviously the fundamental step in becoming a franchisee. In fact, this choice undoubtedly stems from the choice of your sector of activity. In addition to bringing you its notoriety as well as its network, a franchisor will also put its experience at your disposal. This is undoubtedly the secret of successful franchises: having an experienced franchisor at your side. To find the right franchisor, the best solution is to go directly to trade shows dedicated to franchises.

Once you’ve found your franchisor, there are more steps to take!

You must also choose the area in which you are going to operate using the logo and brand of the franchise in France. It is indeed your franchisor who will validate or not the geographical area you have chosen. After this step, your franchisor will submit to you a pre-contractual information document (DIP) which will of course serve as a basis for negotiations. With your franchisor, you must also define your legal status. Once you have reached an agreement with your franchisor, all you have to do is sign the franchise agreement and then prepare your point of sale layout.

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