Not everyone can purchase a franchise. Although the qualifications for a franchisee vary from one company to the next, there are certain standards that need to be met before you will be approved as a new franchise owner. The following are a few of these standards that all companies are looking at in a new franchisee.
Your credit rating
Even if you were to buy into a franchise for cash without any type of financing, they will still want to see a good credit rating. Your credit score will demonstrate a high level of responsibility, and this is one of the most important attributes a company is looking for. Although a franchise owner, to a certain extent, is going into business for themselves, it is also true that you will be entrusted with a brand name. You will be expected to follow certain rules, so you are promoting and defending … Read more