1. Ask yourself the reason for getting a franchise.
2. Know where the investment money is coming from.
3. Assess how much time you will spend in day-to-day operations.
4. Do a thorough search of franchise businesses.
5. Select one thathas the strongest appeal.
6. Try out the products and services of your chosen business.
7. Check and compare if the products and services are consistent with other branches.
8. Scout for an ideal location for your chosen franchise business.
9. Visit the franchisor's head office and inquire about the franchise offering.
10. Procure all the necessary information including the procedures for applying for a franchise.
11. Discuss with family about the franchise. Seek the opinion of members with an open mind.
12. If getting inot business shall involve having partners,do analyze and have a written agreement.
13. Meet and talk with existing franchisees of the franchise business.
14. Study and consult with legal counsel before signing the franchise agreement.
15. Make a financial and market study of the location.
16. Personally meet the franchisor and partners aside from dealing with the employees.
17. Prepare questions to ask from the franchisor and franchisees.
18. Find out who will be involoved in the training and preparation.
19. Watch out for franchisors who make verbal promises. Make sure everything is written in the franchise agreement.
Source: F&B World Magazine, July - August 2007 issue
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