If you are searching for a good business to call your own, you should consider the franchise opportunities provided by a good outfit like Meineke. This company takes great pride on the reputation it has developed over the last 45 years for quality work and excellent customer service. They make it easy to open with their detailed three procedures system.
Passing the Minimum Requirements Test
Every franchise opportunity has specific minimum financial requirements that you must meet to become approved to start. Meineke requires a minimum net worth of $250,000. Your liquid assets should be minimally $110,000. The credit score they require is at least 700. Finally, their finance department will consult on the minimum financial responsibilities and assist with lending you may require.
The upfront investments in such franchises are quite considerable. Franchise fees alone amount to $35,000. The initial advertising contribution equates to $20,000. A considerable amount of inventory and equipment has to be obtained ranging from $110,000 to $175,000. The upfront investment ranges from $250,000 to $300,000.
Obtaining Franchisee License
Assuming that you pass the first culling, the second procedure involves prepping to become a franchisee. This starts with an introductory call where the key concepts for the franchise will be reviewed. There will be an application to complete. During the first presentation, the company will go through the expectations as an owner, discuss the marketing endeavors, and go through the company systems and operations. They will also provide FDD.
Next comes the company’s second presentation. This goes through the Real Estate, business systems, and general questions and answers. There will similarly be another FDD review and a complete Q&A session. The company also does a Validation and Discovery Day. They will go through your due diligence before scheduling an interview that provides the opportunity to meet and interview with the key team members of the franchise. Finally it is decision time.
Opening The Francise
At last comes the opening of the franchise. This starts with an introduction of your team members. The Real Estate board and team will work with you to ensure that the site secured is ideal and traffic-optimized. There is assistance with financing available at this stage. The grand opening will be the event that the franchise company supports with additional personnel and advertising dollars in the local market to ensure that it is a success.