No you don’t need to share the secret, instead you can distribute the readymade product in that case to the person seeking your franchisee. E.g. You have a restaurant and the secret of your dishes lie in your mixture. In that case you can supply the mixture as it is to the person and tell the recipe from thereon to make the dish, but not the recipe of mixture.
Yes, franchise have their own standard of procedure as their brand’s name is involved in your business. So they provide the required training for the same.
You should first select franchise, because different franchise have different terms and conditions regarding the size and location. Without the approval of franchisor you cannot get the franchise. Therefore investment on location should be done afterward.
Generally those companies or brand, become franchise who have a lot of customer base. A lot of people are aware of their product or service quality. Once you get the franchise name, you automatically get that loyal customer of the brand without doing anything. Big franchise promote the brand through television and print media. They hire stars as their brand ambassador. The good thing is that you would not have to bear the expense of that. So your business will become a household name in your locality and the areas nearby. Other promotional offers and many things are there which a franchisor can easily do, whereas you will think twice before doing it.
Once you talk to the franchisor through our portal, you will get to know the approximate investment required for machinery setup and equipment. Then there would be franchise fees. The specification for the location will also be given like area of outlet, size of outlet etc. according to that you can calculate the total cost and continue with it according to the budget.
) Different franchise have different franchise fees and approximated investment. List down the ones lying under your budget. Now as per your research of the market chose the franchise which you think will give you maximum returns.