Franchisors have a qualification process that will involve interviews and reviews of financial information. You are creating a business relationship – often for 10 years – and this is not to be taken lightly.
Typically, there are seven steps to franchise ownership of a franchise:
1. Find a franchise concept that fits.
2. Submit the application/request for consideration.
3. The franchisor delivers the Franchise Disclosure Document to you and you confirm that you have received it.
4. Training and support overview with franchisor’s representative.
5. Franchise disclosure review with franchisor’s representative.
6. Franchise due diligence with franchisor, franchisees, and industry sources.
7. Celebration or discovery day, where you meet the corporate staff and may sign a franchise agreement.
Now, each franchise may have different steps in between these larger milestones. However, these are the stages that you can definitely expect to go through when seriously pursuing a new franchise opportunity. We encourage you to explore these franchise opportunities, and, to find the right franchise fit. If you would like assistance in where to start your search, consider taking the Franchise Compatibility Assessment, or, a Franchise Characteristics Assessment.
About Wireless Toyz
Named one of the fastest growing franchises of 2007 by Entrepreneur magazine, Wireless Toyz ranked as number 352 in the same publication’s Entrepreneur Franchise 500 list of that same year and advanced to number 169 in 2008. Built on the principles of convenience and variety, Joe Barbat’s Wireless Toyz stores have prospered because of the company’s unique concept. Wireless Toyz features one-stop shopping, allowing wireless users to compare and contrast cell phone plans by Sprint, T-Mobile, Metro PCS, Cricket as well as other providers. Additionally, each Wireless Toyz store is owned and operated by a competent wireless phone expert, providing customers with a comprehensive resource for information and questions.