Burger King started franchising its operation just a few years after the 1954 launche because of the really successful Whooper hamburgers and the popularity that the restaurant chain enjoyed. Now we see tens of thousands of franchises that are running in US and in foreign countries. Burger King manages to offer a full proof, successful plan that can be followed in order to establish a properly running operation really fast.
The problem is that nowadays Burger King does not accept new franchises. It is possible to get new operations set up from time to time in various countries but that is rare. One of the easiest ways to start running such a business is to buy a Burger King franchise.
Here are the steps that you need to follow!
First off, you need to develop a suitable personal finance portfolio and there is a pretty good chance you will need to meet with a bank to get what is known as a franchise business loan. Then, you have to locate those franchises that are available for sale. You can contact commercial real estate or franchise brokers in order to achieve that.
Visit the fast food restaurant you want to buy in person. Make sure that you do not select a Burger King franchise that you may be interested in buying by only staying focused on videos or photographs. This is a huge mistake. Sometimes a seller wants to sell simply because the business is not running a suitable program and there are some problems.
Make sure that you evaluate fast food franchise physical location since you are there. The restaurants that have an outdated interior or exterior décor will cost more to renovate so that BK corporate standards can be met. You can always hire a professional in order to properly assess the situation, all based on the expertise that is currently available.
It is obviously important that you also evaluate the Burger King franchise’s financial condition. You have to hire an accountant in order to examine tax statements or business records. The marketing research specialist will evaluate local surrounding so that you can see if the prospective restaurant will be good. External audit may be necessary at times.
The following step is to write a good offer for the selected Burger King franchise. That will offer a good statement and the real estate representative can place money in escrow after the offer is accepted. The franchise real estate representative can represent you properly during any negotiation. After the money is available, you just need to make the payment and finalize the paperwork. It is the last step necessary in buying a Burger King franchise.
Make sure that you are careful! It is quite difficult to buy a good Burger King franchise. Many of those that are available on the market will be sold simply because of the fact that they are not making much money. It is very important that you are careful and that you always make a correct choice.