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NO HANDWRITTEN OR COPIED ANSWERS PLEASE Discuss the process of deciding whether to become a franchisee.

NO HANDWRITTEN OR COPIED ANSWERS PLEASE

Discuss the process of deciding whether to become a franchisee.

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Answer #1

The first step is to decide whether the investment can be undertaken. Then the entrepreneur needs to assess whether the brand is big enough and whether there is a market for it. This involves a lot of market research. The economics involved should be assessed. This includes analyzing the cash flows and revenues/expenses of the operations. Also the opportunity cost of the investment should be considered. The restrictions and requirements imposed by the brand should be carefully studied to see if they can be met. Site selection is important and so is the selection of employees required.

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