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: 85Word Count: 448See All articles From Author

Business Articles

1. Why Video Transfers Have Become So Essential At Present?
Author: alphadvdcreations

2. Video Transfer Method To Keepyourfavourites For Life
Author: alphadvdcreations

3. How Compact Lube Trucks Can Increase Industrial Maintenance Capabilities
Author: Scott Lee

4. 5 Tips To Get Your Construction Business Visible In Canada
Author: Rick Greoneveld

5. Why Retailers Need Ecommerce Product Catalog Management?
Author: Liza Zeimer

6. Cutlery For Wedding Should Have A Smooth Reflection And Smooth Edges!
Author: Dean Lance

7. Htc Screen Repair And Replacement In Uk
Author: Rosie Grace

8. Cutlery For Wedding Made From Copper Is Always Safe On The Use!
Author: Dean Lance

9. Floor Lamps South Africa Is Safe And Extremely Beneficial On The Use!
Author: Dean Lance

10. Stem Floor Lamp Is Designed To Produce Perfect Accent Of Lighting For Your Home!
Author: Dean Lance

11. To Be Appropriate For Benefiting Instant Cash For Me
Author: Jack martin

12. Opportunities For The Global Waterproofing Admixture Market To Reach $4.5 Billion By 2023
Author: Lucintel

13. Money Loan Specialist Carries On In A Positive Sense And Answers
Author: Alex Mighty

14. How To Increase Sales By Using Just One Word
Author: Ian Marsh

15. Xbox Game Console Repair Services In Uk
Author: Rosie Grace

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