How to Open Up a McDonald's Franchise in Georgia
McDonald's is a leading fast food chain, with over 31,000 restaurants in more than 119 countries. Candidates for a franchise in Georgia must be prepared to make a high initial investment and take a training course. McDonald's favors applicants who have a history of successful business management and considerable liquid personal assets.
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Instructions
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Ensure that you satisfy McDonald's requirements for franchise owners. Amongst other things, you must have had some experience with owning or managing several businesses or departments successfully, have the ability to create a business plan, understand financial statements and be ready to personally manage the daily operations of a McDonald's franchise. Candidates must also have a good credit history and at least $500,000 in liquid assets to finance the investment. In addition, you may wish to check with your city and state to learn the general requirements for franchise owners in Georgia.
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Determine the type of franchise you wish to purchase. Entrepreneurs can purchase a new franchise directly from McDonald's, or they can buy an existing franchise from the owner or from McDonald's. If you prefer to purchase a new franchise, the company is responsible for picking the most practicable location in Georgia. You must make a down payment of 40 percent of the purchase price for a new franchise or 25 percent of the purchase price for an existing franchise. According to McDonald's, the total price of a franchise varies based on different factors, but the general down payment is about $500,000. Be aware that McDonald's must approve the transfer of an existing franchise to a new owner.
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Complete an application. The information required on the application includes your name and contact information, education, occupation and responsibilities, business history, income, net worth and available nonborrowed funds to invest in a McDonald's franchise. You will also have to provide information about bankruptcies and prior convictions, if applicable. You may complete and submit the application online or print a copy and mail it to the regional office for Georgia (and other states in the Eastern Division) at the following address:
Franchising Department
McDonald's USA, LLC
4601 Six Forks Rd., Suite 306
Raleigh, NC 27609
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Wait for a decision from McDonald's. The company will invite you for an in-person interview if it is interested in working with you.
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Take an in-restaurant evaluation. Candidates will work at a McDonald's restaurant for three days to experience the fast-paced daily operations. Those who complete the evaluation successfully will be invited for a second interview.
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Attend a training class. To preserve the brand, it is necessary for franchise owners to operate their franchises strictly according to the company's rules and regulations. The training will cover all you need to know to begin operating your new franchise, from hiring staff and ordering supplies to food preparation and daily operations. You can complete the training in nine months if you attend on a full-time basis. Candidates who attend part time will complete the program in 24 months.
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Tips & Warnings
The capital you plan to use as a down payment towards a McDonald's franchise must come from your personal resources. McDonald's does not allow borrowed funds.
