123ArticleOnline Logo
Welcome to 123ArticleOnline.com!

ALL >> Business >> View Article

10 Most Common Mistakes In Franchising

By Author: Jamie Parker
Total Articles: 19

Franchising is a big decision with big investment. There are many popular stories about successful franchise businesses but then there are the stories of failure. Most of the businesses for sale in Kansas City fail due to following common mistakes; let’s take it from the bottom to the top:

10. Not Studying Your Market Well

Your franchiser may help you in selecting the location but it is still your prime responsibility to study to see if the site is promising. It’s imperative to confirm the market for the selected product of service.

9. Not Making an Effort to Meet the Franchiser

Most often, the sales representative from the franchiser’s side will do good job to win your confidence and you will never make an effort to meet the key management of the businesses for sale in Kansas City. Don’t commit this mistake. Take time to meet the top management personnel to confirm the information provided by the sales representative.

8. Not Identifying the Need for Financing

If accounting of franchise cost and keeping track of the investment is not your forte, hire a good accountant for assistance.

7. Not confirming Availability of Required Working Capital

There are many other types of associated costs other than just the initial setup cost. Make sure in advance that you have enough working capital in hand.

6. Not Learning From the Failed Franchises

Find out the reasons behind the failed franchisees (if any). If there is some common issue behind all the failed franchisees, that is surely something that you would like to avoid.

5. Not Getting In Touch With Current Franchisees

Even if your franchiser offers you a tour of their existing franchisees, it’s a good idea to contact them on your own as well. You may ask them questions that you feel are important in helping you make a decision.

4. Not Verifying the Oral Conversation

You might like to record the conversations to avoid this mistake. It will also serve as evidence in legal matters if they arise later.

3. Not Seeking Legal Advice

Hire and retain sound legal adviser preferably an experienced one to advise you on legal matters.

2. Not Interpreting the Franchise Agreement Correctly

You with your adviser must clearly understand the document for franchise opportunities. Clear all the questions that you may have in your mind before signing the deal.

1. Not Understanding the Role or Responsibilities

Such documents are generally long but it is utmost important to read each and every point mentioned. Prepare notes for the unclear or confusing points to seek attorney’s opinion. Make a clear understanding of responsibilities.

The author of this article is very conscious about helping businesses to get the right franchise. Here he discusses about the common mistakes of franchising in Kansas City for a safe investment.

Total Views: 73Word Count: 448See All articles From Author

Business Articles

1. One Of The Best Kitchen Equipment Manufacturers
Author: Paul Wright

2. Advantages Of Getting Listed In Online Construction Directory
Author: John Smith

3. How Radiologist Email Lists From Healthcare Mailing Change Your Business Perception?
Author: Richard Braxon

4. Choose Yourself As A Yoga Teacher With The Help Of Adinath Ashram
Author: Jack Stevens

5. Best Service Provider For Life Time Events In Pune
Author: biz porto

6. Crimping Your Own Earrings
Author: Nitesh Pathak

7. An Overview Of Surface And Chemical Analysis
Author: Tan Sean

8. Prorack Roof-racks Install With Smart-foot Technology
Author: Tony Bulic

9. Siib: The Changing Face Of Business Education In India
Author: Mohan Kumar

10. Things To Know About Coworking Spaces
Author: romyfernandis12

11. Things To Consider Before Opting For A Mailbox Rental
Author: romyfernandis12

12. Different Types Of Advertisement Print Products
Author: romyfernandis12

13. Advantages Of Hiring Professionals For Printing
Author: romyfernandis12

14. Data Cabling Through Wire Mesh Cable Tray
Author: Noah Gabriel

15. Pretreatment And Grit Removal From Sewage Water To Repurpose It
Author: Manoj Shukla

Login To Account
Login Email:
Password:
Forgot Password?
New User?
Sign Up Newsletter
Email Address: