Franchise Made Simple
Franchise Made Simple
To begin with, starting a franchise business will entail paying an upfront fee. This fee will give you access to the already established brand name of the franchiser as well as his specific guidelines to running a franchise business in the current marketplace.
There is also a monthly fee paid to the franchiser, which is known as a ‘royalty’ payment. In exchange for this payment, the franchiser will provide you with help and aid when you are in need of them.
Your franchiser can also act as a personal guide in maneuvering your way through the business world by helping you determine which location is best to set up shop, providing you with training courses, helping in promotion and marketing of the business and finally, being there to help you with any other work related issues along the road.
All in all, franchising has a lot more security than building up your own business from nothing. Almost all details are laid down and mapped out beforehand, leaving very little to worry about. You will simply be required to follow rules and procedures and work hard at making your business a success.
The US department of Commerce indicates in a study carried out over 7 years that more than 90% of all franchises turn in a profit steadily. Compare this to businesses set up by individuals outside of franchising, where up to 80% of them end up biting the dust and disappearing as quietly as they came on the business scene within an average time period of 5 years. This high failure rate is usually a combination of naivety regarding the business world, poor knowledge of the product and its potential and general lack of experience. While trial and error are good learning experiences, banks aren’t too patient when shutting down your business operation, if the cash isn’t coming in as quickly as it should be.
However, with franchising there will be certain restrictions on the business operation. There will be predetermined tools set for your disposal between suppliers and computer systems, all of which have been handpicked by the franchiser. You will also be operating under certain conditions that ensure to the franchiser that his reputation will remain intact and suffer no damages.
This maybe very difficult for highly independent entrepreneurs who value their freedom a great deal.
So while you’ll be going into business for yourself, franchising is still a form of partnership where all parties involved have to cooperate and work hard to ensure their business’s success.
Franchise Made Simple - To learn more about this author, visit Sebastien Page's Website.
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The simplicity and beauty of franchising is that it is basically a form of business where instead of starting uneasily and trying to decipher things on your own, you’ll already find plans and formats that have been applied and tested before. The guidelines already exist and are available for those who seek them. As an owner of a franchise business, all that’s required of you is to make yourself fully aware of the tricks and the trade and the rules of the game, then simply follow them correctly.
To begin with, starting a franchise business will entail paying an upfront fee. This fee will give you access to the already established brand name of the franchiser as well as his specific guidelines to running a franchise business in the current marketplace.
There is also a monthly fee paid to the franchiser, which is known as a ‘royalty’ payment. In exchange for this payment, the franchiser will provide you with help and aid when you are in need of them.
Your franchiser can also act as a personal guide in maneuvering your way through the business world by helping you determine which location is best to set up shop, providing you with training courses, helping in promotion and marketing of the business and finally, being there to help you with any other work related issues along the road.
All in all, franchising has a lot more security than building up your own business from nothing. Almost all details are laid down and mapped out beforehand, leaving very little to worry about. You will simply be required to follow rules and procedures and work hard at making your business a success.
The US department of Commerce indicates in a study carried out over 7 years that more than 90% of all franchises turn in a profit steadily. Compare this to businesses set up by individuals outside of franchising, where up to 80% of them end up biting the dust and disappearing as quietly as they came on the business scene within an average time period of 5 years. This high failure rate is usually a combination of naivety regarding the business world, poor knowledge of the product and its potential and general lack of experience. While trial and error are good learning experiences, banks aren’t too patient when shutting down your business operation, if the cash isn’t coming in as quickly as it should be.
However, with franchising there will be certain restrictions on the business operation. There will be predetermined tools set for your disposal between suppliers and computer systems, all of which have been handpicked by the franchiser. You will also be operating under certain conditions that ensure to the franchiser that his reputation will remain intact and suffer no damages.
This maybe very difficult for highly independent entrepreneurs who value their freedom a great deal.
So while you’ll be going into business for yourself, franchising is still a form of partnership where all parties involved have to cooperate and work hard to ensure their business’s success.
Franchise Made Simple - To learn more about this author, visit Sebastien Page'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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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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Cheryl MatthynssensCheryl is a life skills coach, licensed Chemical Dependency Counselor and a 20 year entrepreneur. Cheryl's dedication to achieving a life of balance led to her expanding her teaching from the simple managing of life's daily challenges to adding financial well being as well. A direct marketer with DrinkACT, she is gaining ground in the online community with her concepts of making sure business owners, entreprenuers and employees have well rounded life styles. She opened up a small affiliate site - The Balance Guide- to help others find resources for mental and emotional well being. Visit Cheryl's blog to see more of the diversity beyond business she has began offering online at www.thebalanceguide.blogspot.com - Visit Cheryl Matthynssens'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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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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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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