Why Owning a Franchise is a Better Way to Business Success
Why Owning a Franchise is a Better Way to Business Success
Another reason why people choose franchising instead of a start-up is the host of supports that the franchisor provides. From helping in the process of site-selection to guiding you in recruiting the right candidate, a franchisee gets all sorts of assistance from the experienced franchisors.
In addition, when it comes to training, the franchisor teaches all the tricks of the trade. The franchisors made certain mistakes while they started the business; now, they teach their franchisees ways of avoiding them and as a result, the franchisees enjoy a smooth sail. Compare that to a fledgling business; here the entrepreneur is supposed to fall over and again before he learns to execute it in the right way. That is why they have to bear the higher failure rate than a franchisee.
Another great thing about the franchising industry is bulk-purchasing. A franchisor buys for all of its franchisees; hence it gets huge discounts from the supplier/manufacturer. This is the reason why its franchisees can sell the products at a lower price, which becomes their competitive edge in the market. The franchisors and franchisees share their costs in advertising and marketing, which also lowers the expenditure of running the business.
Many people shy away from franchising business, because here they need to pay an up-front fee and a monthly/weekly royalty fee. But if you compare that with the money spent on starting from the scratch and establishing a successful business; it will seem insignificantly small! Lastly, selecting the franchising industry is a much better option, because you know what you are getting into. The UFOC will give details of how much investment you have to make for the business. As a result, you can choose a business according to your budget. But in a start-up business, you will never know how much initial investment you are required to make. Since you are creating a system rather than following one, you have to spent money sometimes on unnecessary account. So, be wiser and invest in a franchising business according to your financial ability and choice.
Why Owning a Franchise is a Better Way to Business Success - To learn more about this author, visit Michael Hemenway's Website.
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The franchising arena is having a dream run all over the world. As the IT bubble burst, people found out how risky start-up businesses can be. But, people still want to launch a business of their own. That is why franchising is becoming a perfect vehicle to launch a career. Franchising gives you all the joys of operating your own business, but without the failure rate associated with it. Franchising is perfect for those who love to dream big, but are not big risk takers. This business also means following a proven business method; you sell a product or concept that has a history of success and high demand in the market. You do not have to spend valuable time and money in popularizing your services/products. Hence, your chance of success gets greater and better with franchising.
Another reason why people choose franchising instead of a start-up is the host of supports that the franchisor provides. From helping in the process of site-selection to guiding you in recruiting the right candidate, a franchisee gets all sorts of assistance from the experienced franchisors.
In addition, when it comes to training, the franchisor teaches all the tricks of the trade. The franchisors made certain mistakes while they started the business; now, they teach their franchisees ways of avoiding them and as a result, the franchisees enjoy a smooth sail. Compare that to a fledgling business; here the entrepreneur is supposed to fall over and again before he learns to execute it in the right way. That is why they have to bear the higher failure rate than a franchisee.
Another great thing about the franchising industry is bulk-purchasing. A franchisor buys for all of its franchisees; hence it gets huge discounts from the supplier/manufacturer. This is the reason why its franchisees can sell the products at a lower price, which becomes their competitive edge in the market. The franchisors and franchisees share their costs in advertising and marketing, which also lowers the expenditure of running the business.
Many people shy away from franchising business, because here they need to pay an up-front fee and a monthly/weekly royalty fee. But if you compare that with the money spent on starting from the scratch and establishing a successful business; it will seem insignificantly small! Lastly, selecting the franchising industry is a much better option, because you know what you are getting into. The UFOC will give details of how much investment you have to make for the business. As a result, you can choose a business according to your budget. But in a start-up business, you will never know how much initial investment you are required to make. Since you are creating a system rather than following one, you have to spent money sometimes on unnecessary account. So, be wiser and invest in a franchising business according to your financial ability and choice.
Why Owning a Franchise is a Better Way to Business Success - To learn more about this author, visit Michael Hemenway'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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Dianne CramptonDianne Crampton is an executive leadership coach, team consultant, author and president of TIGERS Success Series, Inc. Dianne has been helping CEO's and Executives connect their employees to their core values and goals for over 20 years using the trademarked TIGERS team culture process, which stands for trust, interdependence, genuineness, empathy, risk and success. To download a free white paper on behaviors that build strong teams and behaviors that will predictably tear them down go here. - Visit Dianne Crampton'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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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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Linda RichardsonLinda Richardson is the Founder and Executive Chairwoman of Richardson, a global sales training and performance improvement company. As a recognized leader in the industry, she has won the coveted Stevie Award for Lifetime Achievement in Sales Excellence and she was identified by Training Industry, Inc. as one of the “Top 20 Most Influential Training Professionals.” Ms. Richardson is credited with the movement to Consultative Selling and is the author of ten books on selling and sales management, including Sales Coaching — Making the Great Leap from Sales Manager to Sales Coach, and Stop Telling, Start Selling. She teaches sales and management at the Wharton Graduate School of the University of Pennsylvania and the Wharton Executive Development Center. Linda is a frequent speaker at industry and client conferences, has been published extensively in industry and training journals, and has been featured in numerous publications, including The Wall Street Journal, Forbes, Nation’s Business, Selling Power, Success, and The Conference Board Magazine. Learn more about Richardson's sales training and performance improvement solutions at http://www.richardson.com web - Visit Linda Richardson's Website |
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David BarrDavid Barr is the President of Venture Opportunities, Inc. David has been a professional business broker/intermediary since 1980 focusing on General Business Brokerage and Mergers and Acquisitions representing client transaction value from $400,000 to $20,000,000. Mr. Barr has handled the sale of over four hundred and fifty companies. David earned a university degree from the State University of New York majoring in economics and business. David holds the Mergers and Acquisition Master Intermediary and the Certified Business Intermediary designations from the International Business Brokers Association. He is also a Senior Business Analyst and a Texas licensed Real Estate Agent. For more information about David and Venture Opportunities, visit www.bizdealmaker.com. - Visit David Barr's Website |
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