Docstoc

So_You_Want_To_Get_A_Franchise_

Document Sample
So_You_Want_To_Get_A_Franchise_ Powered By Docstoc
					Title: So You Want To Get A Franchise?

Word Count: 616

Summary: So, you want to get a franchise? You figure it’s a good way to be your own
boss, without the risk if going it alone? Here are a few ideas to consider:

The Location - The location of business franchises matters a lot. The location of any
business is critical to its success. It makes little sense to buy an ice cream business
franchise if you intend to run your operations from Greenland. Consider the prevailing
circumstances before you make a choice about any business franchi...


Keywords: business franchise, franchises, franchisee, franchising, franchise companies


Article Body: So, you want to get a franchise? You figure it’s a good way to be your own
boss, without the risk if going it alone? Here are a few ideas to consider:

The Location - The location of business franchises matters a lot. The location of any
business is critical to its success. It makes little sense to buy an ice cream business
franchise if you intend to run your operations from Greenland. Consider the prevailing
circumstances before you make a choice about any business franchises.

The Franchisor – An obvious one; who are you buying the business from? Quiz up the
franchisor. Behind what’s said, and not said, and their tone, you’ll get a good idea of
whether you want to proceed with them. Franchisors are keen to sell to intending
franchisees so they'll provide you most of the information you need to discover the
opportunities of that franchise and make your own analysis.

The Network - The problem with listening to sales pitches is that you often get to hear the
good parts without ever getting an inkling of potential disadvantages. By networking with
people who have already bought into franchises, you can investigate the claims of the
franchisor for yourself and see if it’s the right one for you.

Time - Every business involves some amount of time and effort. What matters to a
potential franchisee is whether they can put in the required amount. Different business
franchises have different amounts of time and effort required to make them a success.
Find something you are comfortable doing and success will be less of a hassle.

Monitoring - Find a number of business franchises that are similar or the same as the one
you intend to purchase. Determine if the mode of operation of these franchises is
something that can be easily learned and something you can do. If not finding another
one that suits you may be the right thing to do.
The Fees - Buying a franchise may reduce investment risks as you are associated with an
established provider. However, at times, this could be costly to you. There are some fees
that you will have to bear like the franchise fee which runs from several thousand to
hundreds of thousands, with royalty payments, to be made to the owner, which is usually
a fixed percentage of your weekly or monthly gross income.

Even if you have not earned a significant income through the business it will still be
necessary to pay royalties without fail.

The Restrictions - When you buy a franchise, remember that the franchisor usually
controls the conduct of business to ensure uniformity in all the outlets. With these
controls, you may find it difficult having your ability restricted to exercise your own
business judgment and ideas.

The Staff - Once you find a franchise that suits, make sure that you hire people who are
known or recommended by others to work for you. This makes you more comfortable
and confident in the running of the business. Once you choose the people to work for
your venture, make sure that they undergo the official training provided by the franchisor.
Though you think you may be able to train them yourself, it’s better to visit the parent
company as you will not be able to teach them everything

Find a franchise that suits your attitude; if you are an evening person, there is no point in
investing in a venture that has an early start like a coffee shop. Neither should a morning
person invest in a restaurant that runs late hours. So when thinking of franchising, make
sure you find a franchise that best suits your nature, to ensure success in it.

				
DOCUMENT INFO
Categories:
Tags:
Stats:
views:0
posted:8/5/2013
language:English
pages:2
Marijan Stefanovic Marijan Stefanovic Digital Imagery http://proart-13.blogspot.com/
About Publisher, Web, PC, Marketing, Blogging, Social Networks & More * Please be open minded while reviewing this data, further research is suggested. This documents and articles are in "as is" form, I can not take responsibility for financial or physical harm occurred while using or misuse of information posted, thanks for understanding, Marijan