How to Become a McDonald's Franchisee
McDonald's is the biggest fast-food chain in the world that it boasts more than 30,000 restaurants in 119 countries. With this unrivaled popularity, entrepreneurs who will franchise on McDonald's will most likely succeed in the business; meanwhile this is how to start McDonald's franchising.
For those who want to franchise from McDonald's, they can visit its company website to know about the opportunities available to them are.
Meanwhile, the corporation allows interested franchisees to open chains only to places approved by them to make sure that entrepreneurs can reap the biggest financial benefits.
According to McDonald’s website, there are simple steps to become a franchisee. The first one is by completing the training provided by the corporation so the entrepreneurs will know how to handle their own businesses. Interested franchisees are also required to pay the franchising fee worth $45,000 which is relatively more expensive compared to other fast-food chains (this is understandable since McDonald’s is the most popular and biggest in the business).
According to the corporation, total investment of a franchisee would typically range from $950,200 to $1.8 million (this includes the franchising fee, equipment, building, and other things needed for the operation). After setting the business, entrepreneurs are still required to pay an annual royalty tax which is 12.5 percent of their gross profits. For 20 years, the binding contract will still be followed and after this period, franchisees can renew this if they would want to.
Meanwhile, the fast food giant requires its franchisees to have cash liquidity worth $250,000. Another requirement for them is to have a business experience that will allow them to handle their chains effectively. After qualifying as a franchisee, McDonald’s will train entrepreneurs for one week that will teach them more skills on how to manage their business.
After becoming a franchisee, the owners of McDonald’s fast food chain will still receive support from the corporation. There will be customer care support (online, toll-free phone line) which can help them in case they have encountered some problems in their business.
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