A franchise can be a great opportunity for any entrepreneur. Here are some of the most important things to consider when buying a franchise.

2. Checklist before investing
• Check the franchise fee, outlet furnishing cost, inventory cost,
recurring expenses like rent, royalty etc. and match it with the
funds you have to invest.
• Based on the above derive the expected turnover to achieve
profits; and asses whether the turnover is achievable or not?
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3. • You may opt for master or individual franchise based on your
investment.
• Find a business coach; consultant to find an suitable franchise
opportunity matching your requirement.
• Check the market demand of the product, is it seasonal and
overall competition scenario locally, regionally and nationally.
Short listing the Franchisor
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4. • Check the marketing and advertising budget of the
Franchisor and if you are expected to shell out any sums
towards the same.
• Check the franchisors reputation, goodwill, experience of
running the Franchise; business support and training provided
by Franchisor.
Short listing the Franchisor
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5. • You get the right to “ready to use” format or system
developed by Franchisor and the “brand name”.
• You get support from Franchisor in selecting location for your
outlet; training, operating manual, support and advice on
business issues.
Benefits of taking a franchise v/s
independent business
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6. • You benefit from low overhead cost; Uninterrupted and
consistent product supply; Support in the form of advertising,
marketing and promotion.
Benefits of taking a franchise v/s
independent business
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7. • If you have a small risk appetite we recommend you to own a franchise
vis-à-vis starting an independent business.
• It is advisable to form a limited liability company or private limited
company.
Disclaimer: Every business is susceptible to risk and efforts can be made to
minimize risk, but risk cannot be eradicated.
La skil Business Nuggets©
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8. @laskil.legal.services
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