After few years of successful operation as a domestic retail franchisee, majority of businesses target towards venturing out in the international market. However, while some of them succeed in their endeavor, others experience a catastrophic fall. Actually, there are some unanswered questions behind this that result in discrepancy in success rate among domestic franchisees who wish to go international. Some of these questions have been compiled here. Find out if your unanswered question has been answered as well.
Q. They say I need some kind of infrastructure before I go international. Is it true? Ans. Yes, it is absolutely true. When you enter an international market, it is expected that the volume of your work will automatically increase. This calls for proper infrastructure where you will execute the orders. You would require adequate capital as well in order to purchase raw materials and other supplies that you might need for processing the orders. If you do not have these resources, you will fail to meet the expectations of the international market and might become blacklisted after repeated failures. Q. Do I need a franchisee lawyer when I become an international franchisee? Ans. Whether you operate as a domestic or an international franchisee, having a qualified and reputed franchisee lawyer by your side is utmost essential. This is because you would never know when you encounter a case of International Arbitration or dispute and need a professional to help you get out of the situation. This is one of the situations when you need the lawyer for International Dispute Resolution so that you can carry forward your business undisturbed again. Q. Does going international mean I can work in multiple markets at a time? Ans. Yes, it does mean so. But if you operate as a start-up franchisee in any international market, it is usually advised that you should select one or maximum two international markers in the beginning. This is because concentrating on smaller number of international markets at the first go will give you idea of the entire procedure of work. Later on when you gather adequate experience, acumen and expertise, you can always work in multiple international markets.
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