If you are considering buying a McDonald’s franchise, you must be prepared to submit to a large number of requirements. The company requires its potential franchisees to own an important business or management experience, a solid understanding of finances, adaptability and a strong entrepreneurial spirit. Good credit and owning personal financial assets are also essential when applying for a McDonald’s franchise.
So at the time of making the decision to enter a franchise of the powerful brand of hamburgers and American fast food, we must exhaust the following phases:
Steps to acquire a McDonald’s franchise
Step 1
Evaluate your finances. Decide if you are really comfortable with making an initial payment, financing the rest of the purchase price, and paying a monthly fee and rent. The service fee and the rent are based on a percentage of the monthly sales.
Step 2
Apply as a franchisee Visit the official website of McDonald’s and download the application in PDF format. Send your request to the corresponding address in the franchise section of the McDonalds website. Remember that by applying you do not obligate yourself or McDonalds in any way.
Step 3
Proceed to the interview with the representative of a McDonalds if your application is approved. If the representative decides that you are a good candidate for the McDonald’s franchise, you will be required to conduct a three-day evaluation at an existing McDonald’s restaurant. An assessment of your ability to run the restaurant, as well as an examination of your finances, will determine whether you can have the opportunity to become a future owner and operator of the respective McDonald’s franchise.
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Step 4
Make an initial payment McDonald’s requires at least 25 percent in cash or other resources not borrowed for existing restaurants, and 40 percent less for new restaurants or franchise locations. The rest of the purchase price can be financed independently, even though McDonald’s must have at least $ 500,000 USD in non-financed assets for consideration as a franchise.
Step 5
Finance the rest of your debt. McDonald’s does not offer to finance of any kind but does maintain relationships with lenders who, according to McDonald’s, offer lower rates for those who purchase a franchise. However, it must be borne in mind that the duration of the loan cannot exceed seven years.
McDonald’s franchise Finally, it is important to note that McDonald’s operates its own Hamburger University (The Hamburger University), the international training center of the McDonalds System. The content and duration of all courses of operations offered at various local sites are reviewed and reconsidered from time to time to meet the needs of the franchisees. All courses and learning events are offered at frequent intervals and are designed to give franchisees the set of specific skills in the various facets of the conduct of a McDonald’s restaurant. Normally, the training is carried out on a part-time basis and extends for 9 to 24 months; however, a training time of 36 months may be necessary. There are no additional mandatory training requirements for franchisees beyond initial training.
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