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Create The Approval Process
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What is the process for franchise approval?
Create The Approval Process
A prospective franchisee wants to know the process for franchise approval and that means you better have one. It needs to be clear, concise and achievable.
When you're developing the process, think of what you can support. Check what your competitors are doing. Most companies that offer franchises also detail the steps to acquiring a franchise on their website. The information is there, all you have to do is go look.
Start with basic steps and customize them for your situation. Here is a sample process:
- Read through the information on the corporate website.
- Investigate other websites and competitor's information.
- Contact us for an information package.
- Do a personal analysis and determine if franchising is for you.
- Submit a franchise application.
- Begin the approval process: background, reference, credit checks.
- Receive and review the Uniform Franchise Offering Circular (UFOC).
- Ask questions. Talk to us.
- Visit the corporate facility.
- Move forward with a signed franchise agreement and franchise fee.
- Create a market plan and timeline for opening your business.
- Begin site selection and construction.
- Grand opening!
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