If you’re thinking about opening a franchise, then at some point you’re going to have to take steps to make it a reality. If you’ve been considering a Fully Promoted franchise, then you’re on the right track! Fully Promoted is an established and growing brand well worth investing in. However, that doesn’t mean that investing is as simple as signing on a dotted line. You should take the following seven steps when investing in a franchise like Fully Promoted:
1. Make the Final Decision
You can’t begin the process of opening a franchise if you haven’t decided that you want to run a franchise. There are a number of questions to consider: Why do you want to own a franchise? Why do you want to invest in Fully Promoted in particular? Are you willing to put in the work required to get your franchise off the ground? Will you be able to obtain financing without putting yourself at financial risk? Are you able to work within an established system? These are questions you should ask yourself before making the final decision.
2. Do Research
It’s a good idea to research more than one franchise opportunity. Check out the websites of the various franchises and read about them as much as possible. Check the reputation of the franchises that interest you by doing a basic online search for recent news articles, awards, and so on. You may even want to use a franchise consultant to help you find some good opportunities and narrow them down.
3. Request a Franchise Application
Once you’ve determined that Fully Promoted is the franchise for you, you’ll want to contact us to request a franchise application. Once you’ve filled it out and submitted it, we will go over the application carefully to determine whether we think you will be a good fit for our business. If we decide that you are, we will send you a Franchise Disclosure Document, which provides more in-depth information about our franchise and gives you everything you should know concerning the current state of the franchise.
4. Attend a Discovery Day
The discovery day is an in-depth meeting between you and the franchisor. Some franchises hold discovery days at local outlets, but typically they’re held at a corporate office. Here, you will be given a presentation that goes into the support the franchise can provide. You’ll be given the chance to ask any questions you have about the franchise.
5. Speak with Other Franchisees
You’ll be provided with a list of all the Fully Promoted franchises. This allows you to identify the franchises close to you so that you can visit them and speak with their owners about their experience.
6. Secure Financing
Fully Promoted requires an investment of $135,000 to $140,000. You can obtain this funding through a business loan. This is typically not difficult to do if you have solid credit since most lenders recognize the low risk of a franchise investment.
7. Sign the Agreement
Once you’ve secured financing, you’ll sign the franchise agreement. It’s usually a good idea to have your lawyer look over the agreement so that you know exactly what’s in it.
Once you’ve signed the franchise agreement, you’re on your way. You’ll still have to do a lot before officially opening a franchise—from obtaining insurance and permits to hiring your staff. However, Fully Promoted will assist you every step of the way. For more information about opening a franchise, contact us at Fully Promoted.