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Location is Crucial to a Franchisees Success

Written by: Michael Hemenway

Article Overview: The location of a franchise concept is very crucial is a franchise business. You should judge the location based on demography of the area, income level of the people and prime purpose of the business. All these will influence whether you are going to succeed or fail as a franchisee.

Location is Crucial to a Franchisees Success

Three main ingredients for success in a franchise business are a lucrative franchise concept, adequate capital and a great location. You cannot influence the first two much, but the last one is entirely in your hand. So, finding the right location plays a big role behind your franchising success and if you are still not convinced, here are some points that you can go through:

• If you don’t choose the right location, you may later find that your targeted age group is not there. Sometimes, the physical location of a place is not as important as the area where it is located. It is supposed to be positioned in such a locale where your clients stay. For example, if you choose an area with low senior population for starting a senior care business, then your wrong selection will lead you to failure.
• The next important thing that a good location can ensure is the right economic strata of society. There are many franchise opportunities, which will flourish, if you are starting them in a lower income group area. Examples of such group are the franchises that deal with payday loans and offer other bank-like transaction services like Family Financial Centers. Similarly, products meant for the people of the upper middle class should be offered in a location where the income level of the residents is slightly high. Educational Outfitters that provide school uniforms for private schools is a prominent example of this group.
• The location should complement the business. You cannot place a unit of Abrakadoodle in a business area or a unit of Business Cards Tomorrow in a residential area and hope to find success in your endeavor.
• The physical location of the franchise is also very crucial. Sit down QSR units need to be positioned in such a place where parking facilities are available. Otherwise, people will be tired waiting for a proper parking place and move somewhere else. In the same way, a Bear Creek Coffee drive-thru should be located in the direction of the traffic heading to work.
• Some locations have to be very specific in order to find customers. For example, WineStyles targeting upper middle-class over-40 patrons can be successful if located in upscale malls, but Dollar Castle will do well in a strip center.

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Article Tags: abrakadoodle, adequate capital, bear creek, business area, business cards tomorrow, care business, coffee drive thru, economic strata, franchise business, franchise concept, franchise opportunities, group area, income group, lucrative franchise, payday loans, physical location, residential area, school uniforms, transaction services, upper middle class



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Critique Small Business - Well, several things come to mind for me and is dependent upon the type of busienss (home based/ internet, brick and mortar). Being in the business financing field the first thing that comes to mind is business plan...Particularly, business history, financial plan/ projections/ budget as well as your present market and competition.... And lest not forget the three L's...Location, Location, Location!
LastMinute New Web Site (Draft) - Louis, I like it much better than the previous one. I like Topic, Location, Date, Discounted Price. That is what I need to know to get interested. I believe that you are moving in the right direction. Andreas
Picking a corporate lawyer - Hi Everyone, I was just curious to know what's the most important criteria a small business owner should look at when choosing a corporate lawyer? -Cost/hr? -Location? -Reputation/Referral? -Experience? -Personality? How did you pick your lawyer? And what's a fair price to pay per hour? Thanks
Re: THE SECRET TO SUCCESS IS ALL IN YOUR HEAD...RIGHT NOW!!! - Success = Thinking (Head) + Heart (Feeling / Interest) + Hand (doing/ action). Success - H3 Robert
Re: Success - I study success intently, and would like to share: Here's two excellent and nearly identical success-formulas from a couple of the world's masters. FIRST FORMULA: 1. Passionate Desire 2. Clear, Definite Purpose 3. Committed Decision 4. Take Action In Faith (Bonus Secret Sauce: 5. Repeat Consistently) I made a video about this, but am not allowed to link it yet. Google "Ryze Success Steps" for it. Oh, and this is Napoleon Hill's (Master Of Success Laws)'s Formula. SECOND FORMULA: 1. Passionate Desire 2. Understand It Is Already Done (Faith) 3. Relax & Allow It To Unfold (Go about your life calmly) This one is courtesy of Abraham-Hicks (inspiration for the movie The Secret). Hope that helps!


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