How to Become a Franchisee for a Restaurant / Bar?

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  • How to Become a Franchisee for a Restaurant / Bar?


Answer #1 | 19/12 2013 08:51
You go to the corporate website and find their phone number. You look it up and ask about being a franchisee. If they have franchises, they'll tell you all about it. No one is going to steal your idea. It's not the idea that's important, it's the willingness to work on it. You're going to need to show the bank and everyone else that you have the ability to run a restaurant. Do you have prior experience? Do you have a degree in management or marketing? Have you written a business plan? I don't know what this franchise would charge, but I do know of some that charge $60,000 or more, and you can't count on the bank loaning the whole thing to you. Go to the library and get a book on franchises and start reading.
Answer #2 | 19/12 2013 09:02
The cost of buying a franchise differs a lot. A McDonalds can cost you $250,000 and upwards. There are others that cost $100,000. All you need to do is contact the company vie their website. Check they offer franchises - many don't. Then make an application. Companies will sometimes help you with the finance for one of their franchises Good luck!!
Answer #3 | 19/12 2013 10:02
A lot of money! They don't just give franchises out to people. You have to have a proven business track record and usually 250k to 1.5 million up front to fund it.
Answer #4 | 19/12 2013 11:13
Look at the website for the company you want to become a franchisee of. They likely have info on the website, including info on what's required to be a franchisee including net worth and needed startup money, and contact info. Requirements vary substantially from one franchise to another.

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