Owning a franchise is what some would consider the the epitome of achievements for a franchisee. With over 31,000 restaurants all around the world, McDonald’s was the first truly global franchise and is still one of the largest franchise systems in the world. Many people are interested in purchasing a McDonald’s franchise because it is seen to be a well proven model, that has an instantly recognizable, world wide brand, and they are highly profitable.
However, due to the these factors, there is quite a high requirements from their franchisees – to make sure they continue to build the McDonald’s brand.
McDonalds Franchise Requirements:
- Very Large Capital Outlay
Several sources confirm that if you are interest in a McDonalds Franchise then you are going to have at least $1million (probably more like $1.5million), just to get started. This figure includes franchise fees, equipment and other startup costs. This figure does not have to be totally unencumbered – as long as you have a sound business plan.
- Quality Business Experience
McDonald’s want to make sure that you would be able to successfully run one of their stores and even though they have a proven system, they definitely require you have to quite a business background. As well as having previous management experience in a fast food service business, they also require general business and marketing experience. - Very Long Franchise Agreement
Be prepared to sign your life away for as long as your home mortgage, with McDonalds Franchise Agreements being for a term of 20 years. That is a quite a large portion of your life to literally give to a business, but if you like the first 20 years, then you will have the option to renew your agreement for another 20 years for the initial franchise costs.
- Be Committed To Working IN Your McDonalds Franchise
McDonald’s requires its franchisees to be actively involved in the day-to-day running of their franchise.
However, if you are able to meet their stringent requirements, and are lucky enough to be approved, then you are sure to have a fantastic investment. The proof is in the fact that most Franchise owners are multiple franchise owners. But if you do not qualify you could always consider the many McDonalds careers on offer.
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