How to Buy a Banner Franchise
Owning a banner franchise can be a great way to make a living. Banner franchises require hard work and an enthusiastic attitude as well as capital investment. Most banner franchises also produce other kinds of signs.
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Expression of Interest
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Choose two or three franchises that are of the most interest based on support, reputation, potential profits or other factors important to you. Fill out an expression of interest for each. This document asks for basics about the applicant, including the desired franchise location, the applicant's basic financial condition and reasons for wanting a franchise.
Franchise Disclosure Document
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If the company accepts an applicant's initial expression of interest and finds the applicant suitable, it may ask for a more extensive application, with further details. After all application materials are received, the company will send the applicant a franchise disclosure document, or FDD.
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Financing
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Most franchises ask for an initial franchise fee to begin the business. There are limited loans available through the Small Business Administration, and other lenders. Costs for franchises vary, as stated in the FDD documents, but most are about $25,000 for the franchise fee, plus rent, materials and equipment. Total investment generally exceeds $100,000.
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