Explaining the Franchise Application Process Used by Top Business Franchises in Texas

Have you ever thought of becoming involved with top business franchises in Texas, such as Dunkin’Donuts or Great Clips? In order to become a franchisee, you must go through a vigorous applicationprocess. Only a small percentage of applicants are chosen by large franchises.

The more you know about the typical application process, the better prepared you will be. You canincrease your chances if you know what businesses are looking for ahead of time.

Here is the overview of the application process for top business franchises in Texas:

1. First, make sure you are applying for the right franchise. Texas is a large state with many, manydifferent types of businesses, and not all of them would be the right match for you. Workingwith a company such as FranNet is ideal, as they will have you fill out a Personal FranchiseAssessment, so they can guide you through a process designed to help you find the rightfranchise fit.

2. As a part of that assessment, you must provide financial information. Any franchise business willwant to know about your assets and liabilities. Do you have enough resources and money tostart and operate the business? What is your spouse’s financial state? Franchisors also want toknow about your financial partners and if you have any backers. Your FranNet consultant canhelp you with this.

1. Speak with your local consultant with relevant experience. A consultant will introduce you to avariety of franchisors and teach you what you need to know in order to make a sound decision.Once you have been introduced to the franchisor by your consultant, the franchisor may ask you

to fill out their formal application. This may happen as soon as research commences or as youget to the end of your research process depending on the franchisor’s franchise developmentplans for you.

2. You must be clear about who exactly is applying. Are you applying for yourself, as an individual?As a corporate entity president or vice president? As part of a general partnership or limitedpartnership? As an estate or trust trustee? Be prepared to provide the financial informationabout every individual and/or entity involved. Everyone will have to go through a backgroundcheck.

3. Have a checklist of all of the items that must be included with the application process. The itemsmay include the application letter, franchise application fee (if required), certificate offormation, complete ownership structure form, market study (if available), site controldocument, proof of assets, etc.

4. When receiving a Franchise Disclosure & Qualification Package, look over everything carefully.The document is required by the Federal Trade commission, and provides applicants with all theinformation regarding the system, the franchisor, and the agreement.

5. If your franchisee application is approved, you will be able to sign the development agreementand receive franchisee training. If you plan on having a new store, restaurant, office, hotel, orbuilding relevant to the franchise you are applying to constructed, you must provide informationabout the location and details for the project. The site must be submitted for approval.

Once again, it’s important that you are working with the right people, including a consultant,accountant, lawyer, etc. in order to become a franchisee for one of the top business franchises in Texas.