What is the cost of franchise and what types of businesses are franchised
What is the cost of franchise and what types of businesses are franchised
The amount of the initial franchise fee can be as low as a few hundred pounds or as high as hundreds of thousands of dollars, depending on the type of franchise.
The amount will depend on how well established the franchisor is and what you are getting. If you are joining a group like Body Shop, for example, they will be identifying premises, negotiating leases, fitting out, stocking up, as well as training you to run the operation. The fee is therefore going to be tens of thousands of pounds. A franchise for providing domestic cleaning services, on the other hand, will involve little capital expenditure and therefore should be a lot cheaper at a few thousand dollars.
Ongoing charges
Franchisors normally charge for their ongoing support by way of taking a commission oh sales. The percentage will vary from case to case.
The franchisor will often also levy a charge for out-of-pocket expenses such as advertising. Items such as stationery and uniforms will also have to be paid for, where applicable, usually with a mark-up for the franchisor.
Types of franchises
The best way to find out if there is a franchise that is potentially suitable for you is to get one of the franchise magazines. There is a wide range of franchises available including:
Professional services
-Expenses analysis for businesses (analysing gas, electricity, telephone, etc., for potential savings).
- Dating agencies.
- Employment agencies.
- Travel agencies.
- Business transfer agencies.
Delivery services
- Parcels, pet foods.
Retail
- Shops.
- Supplying shops with greetings cards, batteries, children's rides slot machines.
Cleaning
- Domestic cleaning services, contract cleaning
Repairs
- Windscreens, car body paint chips.
What are the disadvantages of a franchise?
You probably decided on a franchise to overcome lack of knowledge or confidence in the early days.
The main disadvantages are in the longer term:
As time passes, franchisees become fully acquainted with the business and begin to feel that they do not need the franchisor.
The lack of flexibility.
The feeling of being like an employee rather than an owner. If you want to sell the business, there is usually a fee to be paid to the franchisor, who also has to approve your purchaser.
What is the cost of franchise and what types of businesses are franchised - To learn more about this author, visit Timur Sultanov's Website.
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Franchise fee
The amount of the initial franchise fee can be as low as a few hundred pounds or as high as hundreds of thousands of dollars, depending on the type of franchise.
The amount will depend on how well established the franchisor is and what you are getting. If you are joining a group like Body Shop, for example, they will be identifying premises, negotiating leases, fitting out, stocking up, as well as training you to run the operation. The fee is therefore going to be tens of thousands of pounds. A franchise for providing domestic cleaning services, on the other hand, will involve little capital expenditure and therefore should be a lot cheaper at a few thousand dollars.
Ongoing charges
Franchisors normally charge for their ongoing support by way of taking a commission oh sales. The percentage will vary from case to case.
The franchisor will often also levy a charge for out-of-pocket expenses such as advertising. Items such as stationery and uniforms will also have to be paid for, where applicable, usually with a mark-up for the franchisor.
Types of franchises
The best way to find out if there is a franchise that is potentially suitable for you is to get one of the franchise magazines. There is a wide range of franchises available including:
Professional services
-Expenses analysis for businesses (analysing gas, electricity, telephone, etc., for potential savings).
- Dating agencies.
- Employment agencies.
- Travel agencies.
- Business transfer agencies.
Delivery services
- Parcels, pet foods.
Retail
- Shops.
- Supplying shops with greetings cards, batteries, children's rides slot machines.
Cleaning
- Domestic cleaning services, contract cleaning
Repairs
- Windscreens, car body paint chips.
What are the disadvantages of a franchise?
You probably decided on a franchise to overcome lack of knowledge or confidence in the early days.
The main disadvantages are in the longer term:
As time passes, franchisees become fully acquainted with the business and begin to feel that they do not need the franchisor.
The lack of flexibility.
The feeling of being like an employee rather than an owner. If you want to sell the business, there is usually a fee to be paid to the franchisor, who also has to approve your purchaser.
What is the cost of franchise and what types of businesses are franchised - To learn more about this author, visit Timur Sultanov's Website.
Like this article? Share it with your friends
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Anne BarrAnne Barr has over 26 years experience in sales and marketing, six years as a franchisee. She has assisted over 367 business owners and purchasers to achieve their goals in career change, transition and exit strategy. She holds the designation of Certified Franchise Executive from the International Franchise Association, Certified Business Intermediary from the International Business Brokers Association and Board Certified Broker from the Texas Association of Business Brokers. Anne is active in professional organizations, networking groups and volunteers for non-profit entities. As owner/operator of four successful businesses, Anne has proven people skills and enjoys helping clients find the right "fit" in business ownership. Visit www.FranchiseOpportunitySpecialist.com for more information about me and my company. - Visit Anne Barr's Website |
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John PowerJohn Power, founder of Biltmore Franchise Consulting, has extensive experience developing and marketing franchises and business opportunities. He has been in and around franchising for over twenty years. From 1980 through 1990 he conceptualized, organized, and developed the American Video Association. He grew AVA to 2,000 national members, before selling the company it 1990. It was later merged into another home video marketing company. From 2000 to 2005 he worked as a contract marketing and human resources consultant to several local and national companies. In 2005 Mr. Power began working as a franchise development consultant on a full-time basis. Since that time he has helped more than three dozen companies initiate and develop their franchising program. He notes that there are many companies interested in developing a franchise program, and who need his specialized assistance. Mr. Power is a “hands-on” franchise consultant. He said, “I am the ‘nuts and bolts’ person who tends to the details for my clients.” Mr. Power holds a B.S. degree with a major in Marketing. See: www.biltmorefranchise.com You may contact Mr. Power at: jpower@biltmorefranchise.co - Visit John Power's Website |
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John BrennanJohn Brennan Ed.D. Dr. Brennan is President of Interpersonal Development, LLC, a training and development firm. Interpersonal Development has provided sales training and coaching to more than 3,000 sales reps from over 100 companies. A native of Australia, Dr. Brennan received his doctorate from the University of Rochester. His dissertation researched the effectiveness of Behavioral Modeling Technology in training people in interpersonal skills. While he has spent most of his career designing or delivering training, he was also a Vice-President of Sales of a training and development franchise with operations in 25 markets. Dr. Brennan has designed and delivered sales training in North America, Asia, Europe, Australia and the Middle East. He has been a guest speaker at numerous national and regional professional conferences. When Microsoft wanted Best Practices articles on sales for their web site, they called Dr. Brennan. The results are at http://office.microsoft.com/en-us/FX011387391033.aspx His firm’s clients have included Volvo, The Prudential, Merrill Lynch, Eastman Kodak, Gannett, Equifax Europe, the Economist Group and countless small businesses. - Visit John Brennan's Website |
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Joe DagerJoe Dager is President of Business901, a progressive coaching company providing no-nonsense direction in areas such as Lean Six Sigma Marketing and organized referral marketing. What others say: In the past 20 years, Joe and I have collaborated on many difficult issues. Joe’s ability to combine his expertise with “out of the box” thinking is unsurpassed. He has always delivered quickly, cost effectively and with ingenuity. A brilliant mind that is always a pleasure to work with.” - James R. If you want to learn more about Business901, start a conversation with us. We can be found @ Web/Blog: Business901.com Web/Blog: FundingYourNonprofit.com LinkedIn Profile Follow me on Twitter - Visit Joe Dager's Website |
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Kim CastleWith nearly two decades in the advertising and design business, with clients like Domino's Pizza, General Motors, Direct TV, Pedigree, Wolfgang Puck, Higher Octave Music, Hollywood Celebrity Products, Disney, and Paramount, as well as thousands of entrepreneurs around the world define, structure, communicate, and position their business for greater profits, BrandU(R) co-creators Kim Castle and W. Vito Montone discovered that entrepreneurs could experience the same power that big brands command for a fraction of the cost with the world's only process-based results-drive Integral approach to business creation. BrandU(R) is helping entrepreneurs grow with the power of extreme clarity from idea...to brand...to market(TM) and helping one million entrepreneurs become successful and whole so that they can make a difference in the world. Are you one of them? If you want to experience clarity all the way to the bank(TM), get started now at http://www.brandu.com. - Visit Kim Castle's Website |
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Staging DivaDebra Gould, aka The Staging Diva®, is President of Six Elements Inc., an internationally recognized home staging company. Inspired by many requests from aspiring home stagers wanting to start similar businesses, Gould created the Staging Diva Home Staging Business Training Program. Gould has trained over 1000 Staging Diva Graduates worldwide to start staging businesses. Buying decorating and selling six of her own homes in four years lead to an interest in real estate staging which she turned into a career with the launch of sixelements.com in 2002. Since then she has staged hundreds of homes in addition to teaching home staging training. Gould is the author of several home staging resources including a series of popular ebooks made up of a Design Guide, Color Guide and Portfolio Guide. For more information about Debra Gould visit stagingdiva.com. - Visit Staging Diva's Website |
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Jay Kubassek(Jay's Full Bio: EvanCarmichael.com/jaykubassek) In five years, Canadian-born entrepreneur Jay Kubassek went from selling mufflers at a Midas franchise to revolutionizing Internet marketing with the 2004 launch of CarbonCopyPRO, a online marketing education company, now worth over $20 million with customers in over 160 countries.
As an independent film producer, his upstart film fund Aliquot Films is currently producing a films with Spike Lee and Abel Fererra (starring Ethan Hawke and Dennis Hopper.)
Jay's entrepreneurial spirit is irrepressible. He’s the owner of five companies, a professional speaker and trainer, international real estate developer/investor, extreme sport enthusiast and emerging philanthropist. Jay resides in NYC with his wife Jamie, son Milo and dog Cooper. Visit Jay's official website: www.JayKubassek.com - Visit Jay Kubassek's Website |
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Casey GollanCasey Gollan, Business Coaching & Mentoring Programs. Add $1 Million to $10 Million in the next 1 to 3 years. Since 1996 Casey has to added hundreds of millions of dollars to businesses. Watch a free video see client results Business Coaching website. - Visit Casey Gollan's Website |
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