McDonald’s is a business with excellent success story. The company has been persistent for decades and has been aligned as one of the most accomplished business in the world. Mc Donald’s is not just about food. They are committed to bringing about incomparable customer experience. As such, the company makes sure that all its outlets all around the world provide for optimum clientele satisfaction, exceptional service, plus exceptional foods and drinks. McDonald’s has long been open for franchising. This is the reason why, there are McDonald’s outlets in every nook of the world. Franchisees have the duty to keep up to the standards of the company in terms of product quality and service. Thus, in purchasing a McDonald’s franchise, owners/operators and their employees must be well-trained and with high levels of success in view.
Today, McDonald’s has about 119 outlets all around the world. The company still allows franchising for the international market. In their website, franchisees can access franchising information, which will be helpful to know whether you fit in as a franchisee. McDonald’s is, however, stringent when it comes to financing. They do not provide for financing assistance, and in order to become a franchisee, the company calls for at least cost of £750,000 as financing requirement, which amount must be non-borrowed personal resources
Know Your Eligibility as Franchisee
McDonald’s do invite individuals as franchisee. Nonetheless, there are requirements which must be satisfied to successfully purchase a McDonald’s franchise. McDonald’s representative in a country where the franchise will be put up will do the evaluation of a franchisee’s eligibility. Aside from credit, the franchisee must be committed to forging an excellent quality of customer service, definite business market, exceptional entrepreneurial strategy and enthusiasm, and business experience.
Evaluate Your Finances
Franchising may be the most convenient and painless way of putting up a business. Through franchising, expenses are minimized, and the cumulative impact of the franchisor’s reputation in the international market does benefit the franchisees. However, franchising demands stability in terms of finances. As for McDonald’s would be franchisees, non-borrowed finances of personal source in the amount of $750 000 must be at hand. There are also continuing fees to be concerned of. These ongoing fees include a service fee of 4% of sales for each month. Other expenditures to mind are construction fees, rents, facilities, permit fees, machineries, and labor.
Know Your Market
Knowing your market is an essential part of franchising. As for McDonald’s franchisees, finding the right market is not difficult at all. This is because of the universal patronage of people over McDonald’s foods, and even service. People of all ages do love McDonald’s. But still, careful planning is necessitated to ensure success.
Find a Suitable Location
Although the market is not a fuss, putting up McDonald’s outlet in the appropriate location is significant. It must be located in a place frequented by people and is easily accessible. McDonald’s provide for franchising support, but the choice as to location of the new business is left to the discretion of the franchisee. The franchisee may opt to construct a new outlet or simply rent out a building. My name is Julie. Feel free to browse franchiseforsale.org.uk for franchise business that might catch your interest.