So_You_Want_To_Get_A_Franchise_

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					So You Want To Get A Franchise?

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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.

				
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