Retail Zoo Franchising Check List
- Assess why you really want to own a business;
- Think about how your lifestyle and income will change when owning and operating a business; do you have support from your family and friends?
- Access the franchise brands you have chosen and if they are consistent with your answers to the above 2 questions?
- Build your understanding of the franchise relationship by reading all franchise collateral available.
- Narrow your franchise search to a few systems, then request further information.
- If appropriate, and you are comfortable with the decision, select a system and commence the application process.
- Ensure you have adequate funds, borrowing capacity, and working capital to successfully establish this type of business.
- Be sure you receive and evaluate all disclosure material during the application process.
- Be sure you receive independent legal and accounting advice from lawyers and accountants with franchise experience before making any final commitment.
- Use the recruitment process to do all relevant due diligence on the franchise brand and location.
- Make certain you do your own sales forecasting, budgeting and due diligence on the brand.
- Make certain you feel confident that you know everything there is to know about your chosen franchise brand before signing franchise documentation.