How to increase your chances of success

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Step 3: Financial calculations
Calculate:
Initial investment.
Expected income.
Payback period.
Helpful Tip: Use online franchise calculators like FranchCalc to help you assess your financial options.
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Mistakes to Avoid
Insufficient preparation. Don't start a business without studying the market.
Ignoring the contract. Make sure the terms are transparent and favorable.
Expectations are too high. Be realistic about your capabilities and risks.
Infobox: A common mistake is underestimating list of uganda whatsapp phone numbers operating expenses. Always include unexpected expenses in your budget.
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Follow the standards. Fulfil all the requirements of the franchisor.
Invest in training. Continuously improve the skills of your team.
Actively attract customers. Use local marketing tools.
Lifehacks for successful franchisees
Create partnerships with other local businesses for cross-promotion.
Use social media to promote local promotions and special offers.
Implement a customer feedback system to improve your service quality.
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Frequently asked questions about franchisees