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Choosing the Right Franchise Industry

Guest post by: Sarah Snyder

Article Overview: FranchiseClique.com can help you choose from the vast array of franchise industries and narrow down your ample business opportunities.

Choosing the Right Franchise Industry

With all that has happened in recent years, it is no secret that many people are worried about their futures. The economy is unstable, the worth of their homes is declining, college tuition is getting more expensive by the day, and even successful companies have to lay off employees. While this realistic outlook might look bleak, it is actually true that this is the time of opportunity. Entrepreneurs thrive in this economy because they see the holes and they want to fix them. Many investors are looking for the creative people that have innovative ideas, but they want the security of knowing that the business model is proven. Enter franchising.

You may think of franchising and think of opening a Pizza Hut or a Dunkin Donuts, which has a large initial investment of hundreds of thousands of dollars; but there are many other industries with literally thousands of franchises. You could own a vending franchise, like RedBox, or enter the healthcare field with a senior care franchise. The variety of opportunities is vast.

The reasons to start a franchise are also vast. Firstly, you can rest assured that your business model has been tested before you and yielded success. You can inquire with franchisers or other franchisees about what choices were made to ensure success. For instance, what kinds of locations will do better for your franchise? What kinds of employees do you need to look into hiring?

Similarly, owning a franchise often provides you with a safety net, or a support system. Often times, franchisers have established relationships with lenders, real estate agents, and will invest in training for you and your team. If you are deemed an individual with a potential for success, it is likely that they will invest in you. They are counting on you to make the business a success and will commit to making you the best manager/owner that you can be. They can also provide insight into what other franchisees have had to overcome. Knowing about any potential stumbling blocks will help you overcome or avoid them.

Fellow franchisees can also be a great support system for your new business. You can contact one, two, or many of them and interview them. Find out what they have learned while they’ve owned the business and how they’ve done. It will help you to set realistic expectations for yourself.

The possibilities are endless for franchising, and that’s why you need a helpful service to help you narrow down your choices. Franchise Clique has the most comprehensive list of franchises on the web and you can search by initial investment amount, region or industry. Choose the right franchise and the world is yours.

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Article Tags: business opportunities, franchise for sale, healthcare franchise, senior care franchise



Related Forum Posts
Re: Enticing Franchises - Top 9 List - All Franchise listed above are in millions of dollars. Do you have the list of Franchise in thousands
Re: Info for would be franchisers... - [quote="Sebastien":1d29sdv1]Like Franchise Times, Franchise Update is a very practical magazine. There is no blah blah, just straight facts that anyone in the franchise community can relate to. I just want to mention that all these magazines are NOT franchisee oriented. I mean these magazines are for franchise professionals. If you're looking to buy a franchise, you won't find much information in there. To answer your question, getting published in Franchise Times was fairly easy. I don't want to brag too much but I think I am known in the franchise industry. I was the marketing guy at Franchise.com for a few years before joining my new company, the World Franchising Network. So people know me and I have a very good relationship with Nancy Weingartner, the Managing Editor at Franchise Times. I was talking with her at the last Franchise Expo South in Miami and she mentioned she'd like me to be profiled. I was like "ok, sure!". I like this franchise executive profile thing in Franchise Times as it is rarely BS. People are usually really natural in there.[/quote:1d29sdv1] Thanks for the follow up Sebastien! And I can't say that I'm surprised that networking with the right people and managing your relationships with them properly are the keys to being published. I guess the old adage holds true of "it's not who you know, but who knows you" that's important.
how much for a franchise fee? - Dear Colleague There is no easy answer to this question. Things to consider: [list=] The sizeof the Franchise Clent base Expected Turnover Intellectual Property costs (recoup) Number of Franchises Number of employees Original Set up costs Franchise admin costs An example: A franchise that I was involved in setting was to a simple "lawn mowing/home repair" franchise. The Franchise included national/local advertising - preparation of client lists - general admin - central accounting etc The Franchise involved 300-500 clients - and an annual turnover of about $300,000 . The annual franchise fee was $30,000. Hope that this gives you some idea Take care Ian[/list]
Re: Franchise Surveys - Another good tool to researching a franchise is to speak with their existing franchisees. This contact information is included in most Franchise Disclosure Documents. In order to get a Franchise Disclosure Document or FDD as it is often referred to, you will have to complete a basic franchise application. The franchisor will then usually provide you with the FDD at that time. Included in that book of information is a list of the existing franchisees, the contract, the investment information etc... This information is required by Federal Law to be disclosed to your prior to making a purchase. So be sure to do your research and start with the Franchise Documents to get the initial information.
Re: Info for would be franchisers... - [quote="Sebastien":2gam0klq][quote="BuzzAroundBooks":2gam0klq]Like Franchise Times, Franchise Update is a very practical magazine. There is no blah blah, just straight facts that anyone in the franchise community can relate to.[/quote:2gam0klq][/quote:2gam0klq] That is really what I look for in any industry publication. We lead busy lives and when people fill their magazines with fluff, not only does it benefit no one, but it makes us truly appreciate those that don't. Thanks!


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