Find the Right Franchise Opportunity for You
Find the Right Franchise Opportunity for You
After you have selected the category, observe the market around you. Is there sufficient demand for the product? How is the competition in the market? What is the growth potential? All these things will help you to become aware of the feasibility of your project. Now look at the information provided by the different franchisors and compare them. The first thing you have to see is how old the franchisor is. The greater brand image it has, the more is your chance of success. But that doesn’t mean you avoid the emerging concepts and newcomers. In that case, you must see the USP of the product and scrutinize the franchisor very well. Also, you are supposed to get in touch with the company representatives. Are they competent and reliable? What is the support system of the franchisor? And lastly, what is the financial condition of the franchisor?
While checking out a franchisor, whether established or emerging, always examine in detail. Don’t forget to see the fees and royalties, real-estate requirements, source of the products etc. Then the next step in your quest for the right franchisor will be your budget. You must have a rough idea of how much you can invest. Then you can forgo the franchisors that are way above your budget. But also, don’t go for extremely low-priced franchises. Keep in mind that the money you will spend as franchise fee goes for your initial training, guidance and other supports. So, a franchisor with an extremely low fee may not be offering that much of support and training. After you have more or less fixed your eye on a franchisor, talk to its existing franchisees and try to understand the overall situation under its network.
Find the Right Franchise Opportunity for You - To learn more about this author, visit Michael Hemenway's Website.
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The franchising business is the field that is booming nowadays. But the success of your franchising business will depend largely on your choice of franchising concept. So, choosing the right franchise is the first condition of becoming a successful franchisee. For that, you have to begin with introspection of yourself. What is your reason behind joining the franchising industry? Can you commit full-time to the project? What are your areas of interest and work experience? Asking yourself all these questions, you can surely understand which categories of franchising business you can start looking at.
After you have selected the category, observe the market around you. Is there sufficient demand for the product? How is the competition in the market? What is the growth potential? All these things will help you to become aware of the feasibility of your project. Now look at the information provided by the different franchisors and compare them. The first thing you have to see is how old the franchisor is. The greater brand image it has, the more is your chance of success. But that doesn’t mean you avoid the emerging concepts and newcomers. In that case, you must see the USP of the product and scrutinize the franchisor very well. Also, you are supposed to get in touch with the company representatives. Are they competent and reliable? What is the support system of the franchisor? And lastly, what is the financial condition of the franchisor?
While checking out a franchisor, whether established or emerging, always examine in detail. Don’t forget to see the fees and royalties, real-estate requirements, source of the products etc. Then the next step in your quest for the right franchisor will be your budget. You must have a rough idea of how much you can invest. Then you can forgo the franchisors that are way above your budget. But also, don’t go for extremely low-priced franchises. Keep in mind that the money you will spend as franchise fee goes for your initial training, guidance and other supports. So, a franchisor with an extremely low fee may not be offering that much of support and training. After you have more or less fixed your eye on a franchisor, talk to its existing franchisees and try to understand the overall situation under its network.
Find the Right Franchise Opportunity for You - To learn more about this author, visit Michael Hemenway'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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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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Leanne Hoagland-SmithAre your sales where you want them to be? Will you be one of the few who achieves sales or business success or one of the many who have failed to change? Are you tired of being told you are like everyone else? Then you may find my first book on sales of interest. Be the Red Jacket in the Sea of Gray Suits, The Keys to Unlocking Sales available at Amazon or at http://www.processspecialist.com/red-jacket.htm. This book is a reflection of my no-nonsense approach to improving sales to overall business results. If you are truly committed to making sustainable changes, then I can help you secure a positive return on your investment because I focus on executable solutions not telling you the problems you already know you have. From training to corporate (group) coaching to executive one on one coaching, my approach is to assess, create awareness, build a goal driven action plan and then execute. The bottom line question is "Not do you or your employees know it, but do you or they want to do it?" Please call for a free strategy session at 219.759.5601. - Visit Leanne Hoagland-Smith'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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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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