I Want to Develop an Overseas Franchise in my Country – Can I Secure Development Rights to Operate A number of Franchises?

The following answers to posed questions should provide basic information relating to choosing the right franchise partner and the possible questions you need to be asking any potential franchisor about a franchise opportunity.

Should I research the franchise industry?

You can research a particular franchise industry via on-line franchising directories, franchise magazines and on-line franchising resources. Have you prior business experience?

Do you have prior business experience? Then assess these skills according to guide lines set out by the International Franchise Association, and by the potential franchisor you are interested in approaching.

All franchisors will provide potential franchisees with expert training seminars, on-going support and advice in the initial stages of your franchise operation.

A good franchisor will offer effective support networks to optimize the success of your franchise. Ask to see business annual forecasts and sales histories of the franchise opportunity you are interested in becoming part of.

It is important to remember when deciding to enter into a franchise agreement that you have methodically researched the particular franchise industry you are interested in, and you are aware of the pros and cons associated with this franchise opportunity.

8 Key Questions Posed in Approaching a Franchisor and a Franchise Opportunity

Research: You will also want to investigate the background of your chosen franchise and do some market research on the territory in which you are considering opening your new franchise.; You can find valuable resources through the United States Department of Commerce, United States Commercial Service, International Franchise Association, and International Trade Administration when researching your potential development area. Once you've received the all-clear, you can then determine if there are franchise disclosure requirements in your chosen country.; If there are disclosure requirements, review these documents with a skilled franchise attorney.