A franchise fee is the initial payment you make when you sign the franchise agreement. It is the cost of joining the system, and it usually is a fairly large flat fee. The franchise agreement will spell out the specifics of exactly what you receive for your franchise fee. Most will provide:
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- The right to use the trademark and operating systems
- Services to help with location, demographics and architecture
- Operation Manual
- Training and continued support
- Computer Software
- Sources to get good pricing on equipment and supplies
Yes the franchise fee can seem steep, but starting your own business is difficult and time consuming. A franchise takes a lot of the initial questions and problems off of your shoulders. It allows you to get into business quickly and effectively. Make sure you have a good franchise lawyer to read your agreements to ensure your success. Good luck!
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