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Things To Consider When Finalizing The Purchase Of A Mobile Mechanic Franchise

28.09.2020

The mere fact that most people use cars as their primary means of transportation and will continue to do so for the foreseeable future makes the mechanic business a viable one. Thus, there is no better time to buy a mobile mechanic franchise and begin tapping into the viability of the automobile mechanic industry.

Why Should You Buy A Franchise?

If you think you’ve got what it takes to run a business from scratch, then feel free to go ahead. But if you are worried that you might not have the business acumen to do so but have the mechanic skills, then a franchise might be what’s best for you. Other reasons you might want a franchise are

• Making More Money: this would be as opposed to working for somebody where you are only given a fraction of the money you make for them.

• Freedom to Set Your Own Schedule: Here, you have the freedom to only accept jobs that you want. The extra time you have can be used to pursue other financial interest or life goals

• Expert Guidance: a good franchisor doesn’t just give you its name or brand. The franchisor is always there in times of need, such as when staff training is needed. So, you have both a business model and support to guide you in business.

Things to Consider Before Finalizing the Agreement

Buying a franchise could be the solution to your business problems. Before finalizing a deal on buying one though, make sure the following things are in order.

• Make sure that all discussed agreements have been documented in the franchise agreement before you append your signature to it.

• You need to be certain who are signing the contract on the franchisor’s end. Is it the parent company itself or a master license owner? Either way, you must have done your research and know exactly the type of franchisor you are dealing with.

• The duration you’ll own the franchise for should be stated in clear terms. The agreement should also state if the franchise is a one-time-offer or is renewable when the present contract expires. If renewable, on what terms will the renewal be? Will there be a discount or not? All of these should be clearly stated.

• Most franchises demand that royalty be paid to them at the end of certain pre-agreed business quarters. Make sure the terms of such royalties’ payment are clearly stated.

• Understand what the advertisement and marketing arrangements are. Advertisement and marketing are very crucial components to the success of your business. So, make sure you understand the part that you and your franchisor each play in making sure that both are done optimally.

• The time required to train new franchisees and the terms surrounding it should also be clearly stated in the agreement.

• Your business hours should be made clear as well where applicable.

The legal aspects of buying a mobile mechanic franchise can be quite cumbersome. You are advised to have a franchise consultant or a lawyer or both at your sides as you go through them.

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