How to Franchise a McDonald's
If you are looking to franchise a McDonald's restaurant, then you need to meet the qualifications. You will need to have a source of capital. There is also training. A McDonald's franchise gives you the opportunity to work with a company that provides the needed training as well as an opportunity to grow, develop and get promoted. The program is a turnkey operations that allows you to follow a system that ensures your success.
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Instructions
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Determine if you have the qualifications. To franchise a McDonald's you should have considerable management experience and experience handling money. You need to have the ability to recruit, hire and motivate individuals. There is a required amount of capital needed for investment. Your credit history should be satisfactory.
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Submit an online franchise application (see Resources). When the application is submitted successfully, you will receive a message. McDonald's will contact you for a phone interview to see your level of interest. Candidates exhibiting leadership skills, ability to manage finances, an understanding of financial statements, as well as an entrepreneurial spirit, will be selected for an in-house interview.
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Spend three days in one of the restaurants. If there is mutual interest you will spend three days in one of the restaurants to get a better understanding of the operations procedures. After completing the three-day session, a second interview is scheduled to discuss and confirm the mutual interest, the training program and a review of your personal finances.
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Purchase your franchise. You will need a down payment in the amount of 40 percent of the total cost when you purchase a new store, or 25 percent of the total cost of a store that is already in existence. The amount of the cost will vary from store to store. On average you will need approximately $300,000 to get started. The funds cannot be borrowed. You must have the money on hand.
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Get the balance financed. The balance has to be financed, but the terms cannot extend longer than seven years. McDonald's does not provide financing. You also pay ongoing fees, rent and service to McDonald's as a percentage of sales.
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Tips & Warnings
The list of qualifications can be extensive. Make sure you meet them all or if there are any exceptions. Make sure you can get the balance financed.
