Introduction
Buying a franchise operation is an attractive option for many new entrepreneurs. You get a concept, business plan and marketing machine that already have proven successful. While you’ll be the owner of your company, you must agree to certain rules and regulations put forth by the franchisor in addition to the various regional and federal license...
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Infrastructure
Typically, franchises require you to choose a site that’s pre-approved by the company. The company knows from experience which types of locations work best for the business and requires you to stick within company guidelines when it comes to site selection. The appearance of the store also must fit with company regulations. The franchisor may have...
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Operations
You must sign an agreement to follow the operations policies of the franchise to ensure consistency within the chain. You are restricted on the types of products and services you can offer and must stick to the approved plan provided by the franchisor. The home office often regulates marketing materials, signage, employee uniforms and bookkeeping...
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Territories
You must follow rules and regulations regarding additional locations if you want to expand. A master franchise license usually allows you to open additional locations within a geographical territory. According to the Bureau of Consumer Protection, you may be restricted from operating your own website so as not to compete with locations in bordering...
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Local Ordinances
You are responsible for obtaining building and occupancy permits within your own state. Local ordinances that may govern your type of business must be followed. Fines and permit fees typically are your responsibility. If you need a license to operate in a certain area, it’s up to you to file for the necessary papers. Local, state and federal taxes...
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