How to Become a McDonald's Franchisee?
McDonald's is the biggest fast-food chain in the world and it boasts more than 30,000 restaurants in 119 countries. With this unrivaled popularity, entrepreneurs who will franchise at 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 the company website to learn about the available opportunities.
Meanwhile, the corporation is allowing interested investors to open a McDonald's restaurant only at places approved by them.
According to McDonald’s website, there are simple steps to becoming a franchisee. The first one is by completing the training provided by the company so that 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).
How much money do you need to open a McDonald's franchise?
According to the company, the total investment for 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 up 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 business experience that will allow them to handle their chains effectively. After qualifying as a franchisee, McDonald’s will train entrepreneurs for one week which 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.
You can Learn from This Video on How a McDonald?s is ran and what all Day to Day Activities are for an Owner
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