Want to Own a Business? Have You Considered a Franchise?
Mart 11, 2010 | In: Franchising
Want to Own a Business? Have You Considered a Franchise?
A lot of would-be business owners do not even consider the possibility of franchise ownership. Maybe they think franchising is just about fast food which it is NOT! While there have been many successful food franchises, almost every type of business can be franchised. You see, franchising is simply a way of organizing a business to spread the incentive across many owner/operators and grow quickly to dominate a market. While franchises comprise about 10% of the retail and service businesses, they take in almost HALF the total revenue!
Consider a few of these advantages in owning a franchise. When you buy a franchise, you can choose YOUR priorities – like:
Location – Close to home or where you dream of living, doing business out of your home, an office, a retail store, or a light industrial environment.
Employees – Have a lot or a few, blue collar, white collar, skilled or unskilled. You can even have a high income business with NO employees.
Hours – You can work fast food hours or you can choose a business that is weekdays 9 to 5 with few or no emergencies.
Growth – You can own a business that you can grow to the point of backing off to spend time pursuing other things you love or you can build an empire of multiple locations – even own an entire state!
Outbound or inbound – You can own a business that is highly location dependent where people come to you or you can have an outbound, service oriented business that is not location dependent.
Your job – Do you like sales, customer service, technical work, employee team building, and operations? You can choose the work you like most.
Investment – There are franchise opportunities available for as little as $20,000 to locking up the whole state with a large franchise system, you could spend hundreds of thousands.
The point is you have a lot of flexibility in your choices since there are over 3,000 franchises available, and there is a business structure that can fit almost all your goals and dreams. In addition, here are just a few things you get when you buy a franchise.
Proven, Systematic approach to starting and staying in business – Policies and procedures in HR, accounting, marketing and information systems.
Experience – Thousands of man hours per year doing exactly the same thing you are doing.
Name recognition
Group purchasing power
Training – In house as well as videos, manuals and computer learning
Ongoing support – Coaching and mentoring while you are building your business
Marketing expertise – Knowing where to spend your money can mean the difference between success and failure
Support of other franchisees – Conventions, discussion boards and teleconferences
FranNet provides free guidance, information and support to individuals who are interested in purchasing a franchised business. FranNet consultants specialize in helping their clients find the right franchise through their exclusive matchmaking process. FranNet also hosts numerous educational seminars and programs that are open to the public each month throughout the country and online. Visit http://www.frannet.com to learn more.
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