|PR Log (Press Release) – Jan 05, 2010 – McDonalds Franchise
Highlighted in 2010 Considering a Burger King or McDonalds
Franchise in 2009 and 2010?
by The Small Business Channel at American Banking News
Members of corporate America are now three times more likely to face a dramatic drop in their income due to downsizing, layoffs and company failures than just a generation ago. When this happens many people just go out and look for their next job so they can keep working their way up the corporate ladder, while others decide they are tired of being dependent on a company to provide their salary and build their own corporate ladder by starting a small business. Some people go it their own and figure out everything the hard way the first time, while others purchase franchises so that they have a proven business process they can work with. Franchise ownership isn’t for everyone though.
Before even considering purchasing a franchise, you have to be absolutely sure that this is the business you want to be in. If you want to own at McDonalds, you should go work at one for a year perhaps on a part-time basis and learn the ins and outs of working of cooking, prepping food, running the cash register, cleaning, maintenance, and just see what it really takes to operate one. After that time period, if you’re still fired-up to start your own McDonalds, then go for it.
You need experience in whatever industry you want to jump into before opening a franchise. Franchises are much harder to sell than they are to buy; you do not want to open up a franchise operation and then only find out that it is not a business you are interested in after all and would rather be doing something else but are stuck because you cannot sell it.
You’ll need more experience than the actual ins and outs of what your employees do on a daily basis to run a successful franchise business. You’ll need management, marketing and accounting skills. If you are weak in any of these areas, consider taking classes from a local community college or public university. You can also try out some consulting in whatever field you are in now to get some more experience in the business world.
When talking to the company selling the franchise, they will likely show you all sorts of great numbers showing how much money you will potentially make and let it sound rather glamorous. Independently verify any claims the company makes, proceed very slowly, and make sure that you’re getting into the right business for the right reasons before starting a franchise business.
Learn what it really takes to own a McDonalds Franchise - Click Here