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A business consulting service may help you find a franchise opportunity in your area. When you invest in a franchise, you buy into an established brand with a set of vendors, a loyal customer base, standard operating procedures, national advertising campaigns and training and support programs.
Business Consulting Services Help You Understand the Terms of Your Franchise Contract
A business consulting service helps you sort through the technical terms of a new contract. Buying into an established business requires an entrance fee, which is often referred to as a licensing agreement. You will also be asked to pay royalty fees, which are generally a percentage of monthly gross profits.
As the owner of a small company, it’s important to comply with the terms of your franchise contract. Any breach of contract could lead to termination. If your contract is terminated, you may still be responsible for royalty fees even though you’re not bringing in any monthly income. The right contract representative will help develop a long-term budget, with concessions for additional expenditures.
A financial adviser may also give you insights into restrictions on creative control and day-to-day operations. Some companies require you to work with specific service suppliers and use standard equipment. If you want to produce your own advertising or marketing copy, there may be restrictions on that as well. Some franchisors do offer flexibility when it comes to uniform selection, hours of operation and website sales.
Through consulting and training, Franchise Research Corp can build a custom tailored program..More
Between 2004 and 2005 over 300 new franchise concepts were launched in the US.
In today’s high growth franchising industry, 1 new franchise opens its doors every 8 minutes of every business day.
The execution of business requires a strategy and top talent.