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HOW TO OPEN YOUR FIRST FRANCHISE

The opportunities to undertake are very varied - and the sky is the limit when choosing which business idea you want to pursue. But if you want to start a business that comes with an established brand and business model, opening your first franchise might be a good option. (BBGV201120)

•Franchise opportunities: Do not forget to do your research, having information about franchises and entrepreneurship will be essential. Your first important decision is what industry you would like to enter. Are you passionate about food? Take a look at restaurant franchises. Are you a gym fan? Check out gym and workout studio options. In addition to determining which industry to follow considers the initial investment required, the competition in your area, the training offered by the franchisor, and ongoing costs. This information is often found on the franchisor's website (for example, Dunkin 'Donuts, Taco Bell, and Subway). With these things in mind, evaluate which franchise option is the most suitable for you.

•How to start a franchise: Starting a franchise is a big commitment, and there are a few things to consider. Let's take a look. Evaluate the costs As in any other small business, there are upfront costs to get your franchise off the ground. Here are some common initial investments:

•Franchise fee - The franchise fee is the fixed cost that a potential franchisee pays in advance to operate the franchise. Before looking for a franchise opportunity, make sure you can cover the start up costs, which typically range from $ two thousand of dollars, depending on the size of the franchise. Fortunately, there are financial assistance options, which you can opt for. These can boost your primary cash investment in the business.

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450, Mastermind 1, Royal Palms, Aarey Colony, Goregaon (E), Mumbai, Maharashtra 400065

Ph: +91 8097027355, +91 9137256150, +91 9222086563

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