What is the Process of Buying a Franchise Store?

Making the decision to purchase any type of franchise store such as a UPS store for sale can be exhilarating for many new business owners. This stable, ever-growing type of business can be an adventure that can be passed down through the generations. Before you dive into new business ownership, there are a few steps that need to be followed.

1.    Inquire about franchising opportunities with the company. You initial inquiring will result in an invitation to attend a webinar geared towards prospective franchise business owners. From that, you will learn more about the opportunity and what to expect in terms of profits, cost of ownership, and business growth. Should you be satisfied with the information, you will be invited to fill out the formal application.

2.    Application Process. The second step is the application process which consists of an interview, disclosure agreement, validation of funds and identity, and a formal interview with the executive of your region. This is essentially the part of the process where the company decides if you are a quality individual they want to be in business with.

3.    Acquire funding. All franchise owners will need to have a specific amount of assets in their name to apply for funding. Next, you will fill out your letter of intent and apply for financing within the company or your bank.

4.    Booking. The final step in purchasing a franchise such as a UPS store for sale is to secure financing and receive training. You will need to have the lease signed on your potential location and have your franchise agreement signed as well. Should all things be in order, new franchise owners undergo five weeks of training to learn everything there is to know and what is expected of them as franchise owners. This will help them be successful and know how to operate their store within the standards set forth by the company.