Question

draft a report on the possibility of opening a chain of fast food in your city.​

Answer 1

Answer:

The possibility of opening a chain of fast food in your city.​

Fast food chains including McDonald's, Burger King, Taco Bell, Dunkin Donuts, and Kentucky Fried Chicken are some of the most well-known franchises in the world. You must apply to the "franchisor" and be accepted to create your franchise. The "franchisor" will then determine whether to grant you a license to utilize its trademarks and operational procedures. After securing funds, you can sign the franchise agreement and start the required training.

Explanation:

1. Name the fast food chains. Franchises for fast food restaurants abound. Some are well-known across the country, while others are newer and less well-known. You should think about your hobbies before researching the options.

• If your library has a "franchise opportunities guide," check it out to learn about franchising options.
• To find out more about franchise opportunities, go to http://www.franchising.org. State searches are available.
• There may be a franchise expo nearby. Attending one will allow you to compare different franchises and receive any clarification you need.

2. Consider if you have the funds to launch the franchise. The cost of a franchise might be prohibitive. McDonald's, for instance, demands $750,000 in cash, which you cannot borrow. You also need $750,000 in liquid assets to order from Kentucky Fried Chicken. By looking up the franchise online, you may uncover the criteria.

• Observe estimates of overall start-up expenses as well. Kentucky Fried Chicken's entire launch expenditures will range from $1,262,800 to $2,543,000.
• Less well-known franchises typically have lesser prerequisites and start-up expenses. For instance, the total anticipated investment for the Earl of Sandwich franchise ranges from $331,600 to $485,200. Additionally, a $200,000 monetary investment is needed.

3. Speak with current and previous franchisees. You should conduct as much preliminary research as you can. Franchise ownership requires a significant financial and emotional investment. There shouldn't be any shocks. For that purpose, get in touch with present and past franchisees and inquire with them. For instance, you may ask as follows:

• Has there been any conflict between them and the franchisor or the business plan? If yes, what steps did the franchisor take to resolve them?
• Did the franchisee possess the required knowledge and abilities? Were the training courses sufficient?
• How would they characterize their connection to the franchisor?
• Was the franchisor responsible for forcing the franchisee to leave the business? How come they left?
• Did the franchisor permit previous franchisees to address any issues? How much time was provided to them?
• Was the franchisee's business sold with the franchisor's assistance?

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