Franchising is a concept of using a different brand’s or organization’s business model. It lies somewhere between a startup and working as an employee under a brand name. Here, the larger company comes in terms with the entrepreneurs and allow them to use the strategy laid out by their company. In return, the entrepreneurs need to pay a certain amount to the larger company. At many a times, franchising is a great idea for a startup as it does not give you the headache of building up the brand.
There can be a lot of hidden costs involved like rent, legal payments, costs circulating the employees that you will hire and definitely the marketing costs. You should basically focus on the marketing part after getting starting the franchisee. It is very important that you reach out to the correct customers. This can be done through your local newspaper, radio or television channels. Once you are able to bring in the correct set of customers, you will be all ready to start.
You should be patient enough to allow your business to start flourishing a little. Be polite to customers and have a belief that you will be able to make it work.