Why the Franchise Industry Continues to Thrive
Why the Franchise Industry Continues to Thrive
• The franchise industry welcomes both novices and experienced people in the business by pairing them with franchisors who are expert in their respective fields and are eager to transfer their knowledge. So, unlike a stand-alone businessman, a franchisee, even if he is new in this field, doesn’t have to suffer much in this arena.
• The prime thing about franchise business is that there’s always a business model for the franchisees to follow when they are starting a franchise. On the other hand, if they had gone for their own business, it could have taken years to come up with a viable business model.
• The fact that franchising has more than 90% success rate, makes the industry quite sought-after field among people looking forward to start a franchise.
• Since failure rate of franchise businesses is very low, people get loans easily when they submit a plan to finance a franchise. On the other hand, a novice with a business plan to start-up a stand-alone business will need great charisma to make the bankers trust him.
• The sheer number of franchise opportunities also makes the industry quite an attractive field among people who have become bored of corporate America. They can inevitably find a franchise business for sale offer that matches their dream and fits their pocket.
• The consumers have become more brand-conscious than before even for maid services, handyman services or pet care. Franchisors join the industry after establishing themselves among their customers. That, in turn, makes their franchise business for sale offers quite lucrative opportunities among people who want to start a business.
• There are various lenders like the SBA-backed lenders particularly for the small business franchise industry. Many franchisors themselves are pre-approved for SBA loans, which, in turn, make it easy for the prospective franchisees to get funding for their project.
• Many franchises are home-based business opportunities, which attract talented homemakers who cannot work outside the home for some reason or other.
• Moreover, there are franchise opportunities that are part-time, which enables people, who buy a franchise of such kind, continue their other job as well. Even absentee franchisees are being allowed now by many franchisors.
• The franchisee is guided by the franchisor at every step. From providing initial training to offering on-going support in every department – the franchisor is always there with the franchisee. The franchisees can call up the franchisor in time of requirement. What’ more, since the franchisor has learned form his mistake and perfected the system, it can solve most of the franchisees’ problem from its own experience. But, in a stand-alone business, the new player has to learn everything from the scratch.
Why the Franchise Industry Continues to Thrive - To learn more about this author, visit Michael Hemenway's Website.
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With an economic recession gripping the United States, it’s quite natural to wonder about the feasibility of your plan of starting a franchise business. So, if you are in such a position, then the following points can help you to understand why franchising is a good choice of investment, even during a slow economic condition. May be that will clear the air regarding your decision of buying a franchise.
• The franchise industry welcomes both novices and experienced people in the business by pairing them with franchisors who are expert in their respective fields and are eager to transfer their knowledge. So, unlike a stand-alone businessman, a franchisee, even if he is new in this field, doesn’t have to suffer much in this arena.
• The prime thing about franchise business is that there’s always a business model for the franchisees to follow when they are starting a franchise. On the other hand, if they had gone for their own business, it could have taken years to come up with a viable business model.
• The fact that franchising has more than 90% success rate, makes the industry quite sought-after field among people looking forward to start a franchise.
• Since failure rate of franchise businesses is very low, people get loans easily when they submit a plan to finance a franchise. On the other hand, a novice with a business plan to start-up a stand-alone business will need great charisma to make the bankers trust him.
• The sheer number of franchise opportunities also makes the industry quite an attractive field among people who have become bored of corporate America. They can inevitably find a franchise business for sale offer that matches their dream and fits their pocket.
• The consumers have become more brand-conscious than before even for maid services, handyman services or pet care. Franchisors join the industry after establishing themselves among their customers. That, in turn, makes their franchise business for sale offers quite lucrative opportunities among people who want to start a business.
• There are various lenders like the SBA-backed lenders particularly for the small business franchise industry. Many franchisors themselves are pre-approved for SBA loans, which, in turn, make it easy for the prospective franchisees to get funding for their project.
• Many franchises are home-based business opportunities, which attract talented homemakers who cannot work outside the home for some reason or other.
• Moreover, there are franchise opportunities that are part-time, which enables people, who buy a franchise of such kind, continue their other job as well. Even absentee franchisees are being allowed now by many franchisors.
• The franchisee is guided by the franchisor at every step. From providing initial training to offering on-going support in every department – the franchisor is always there with the franchisee. The franchisees can call up the franchisor in time of requirement. What’ more, since the franchisor has learned form his mistake and perfected the system, it can solve most of the franchisees’ problem from its own experience. But, in a stand-alone business, the new player has to learn everything from the scratch.
Why the Franchise Industry Continues to Thrive - 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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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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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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Dave KurlanDave Kurlan is the founder and CEO of Objective Management Group, Inc., the industry leader in sales assessments and sales force evaluations, and the CEO of David Kurlan & Associates, Inc., a consulting firm specializing in sales force development. Dave has been a top rated speaker at Inc. Magazine's Conference on Growing the Company, the Sales & Marketing Management Conference and the Gazelles Sales & Marketing Summit. He has been featured on radio and TV, including World Business Review with General Norman Schwarzkopf, in Inc. Magazine, Selling Power Magazine, Sales & Marketing Management Magazine and Incentive Magazine. He is the author of Mindless Selling and Baseline Selling – How to Become a Sales Superstar by Using What You Already Know about the Game of Baseball. He created and wrote STAR, a proprietary recruiting process for hiring great salespeople, and he writes Understanding the Sales Force, a popular business Blog and is a contributing author to The Death of 20th Century Selling and 101 Great Ways to Improve Your Life, Volume 2. - Visit Dave Kurlan's Website |
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David AchesonDavid Acheson is the founder of DCJA Consultancy. DCJA Consultancy is a management consultancy business specialising in B2B sales consultancy. They offer bespoke and packaged sales consultancy including Sales Optimisation Review, Interim Sales Management, Sales & Marketing Review, 1:1 Sales & Management Staff Analysis, Management Training, Solution Sales Training, Creation of New Pay Plan, KPI's, run Customer Feedback Campaigns, assist with Recruitment, Coaching, Appraisals and set up Strategic Marketing Campaigns. David spent his early career in accountancy and then moved into sales in 1982, working in Office Equipment, IT, Advertising, Training, Outsourcing and Consultancy. He has held many Senior Positions in SMBs and Global Organisations including Head of Sales Operations & Head of Business Development. His knowledge, skills and great experience of the Sales Industry has led to David making keynote speeches and running educational sessions to key businesses through organisations including The Chamber of Commerce and Business Link. - Visit David Acheson's Website |
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