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What Franchise Categories are Right for Me?

Written by: Tom Parsley

Article Overview: The number of franchisors in existence is uncountable. It is estimated that there are around 3,500 to 4,000 or so today. When you add in all of the Business Opportunities (BizOps) that exist the number jumps dramatically. One thing is certain, however. The trend in the industry is definitely growing. Many new franchisors and BizOps are opening their doors for someone like you each day.

What Franchise Categories are Right for Me?

“I am tired of my job. I want to open my own business. I like the concept of a franchise. But I want something that is new and different. I am tired of doing the same old thing. Which industry do I choose? What if I do not have experience in this industry? Will I even qualify?”

These are some very common concerns that I hear from prospects all the time. To begin with, let’s examine the 16 common franchise industries in existence. Here they are, along with one example of a current franchise for each industry:

Automotive - Express Oil Change and Service Center
Beauty and Fitness – Executive Tans
Business and Professional – Liberty Tax Service
Child Related – Baby Power
Cleaning & Maintenance – College Hunks Hauling Junk
Computer & Internet – Computer Medics of America
Educational - Mathnasium
Food & Restaurant - Blue Chip Cookies
Healthcare - Aegin Place
Home Services - Closets By Design
Pet Related - In Home Pet Services
Real Estate Related - National Property Inspections
Retail - Cartridge Depot
Service – Concrete Technology, Inc.
Sports & Entertainment - Nitro Fitness For Men
Travel & Lodging – Discovery Maps and Guides.

The number of franchisors in existence is uncountable. It is estimated that there are around 3,500 to 4,000 or so today. When you add in all of the Business Opportunities (BizOps) that exist the number jumps dramatically. One thing is certain, however. The trend in the industry is definitely growing. Many new franchisors and BizOps are opening their doors for someone like you each day.

Before you can choose a franchise, you should first choose an industry. In order to determine which industry is right for you, one would expect that there are some hard and fast rules about how to qualify in order to start a franchise. Obviously, each franchisor will have set guidelines as to location, territory, capital requirements, etc. But the one common mistake that most people make is that it is very common for one to think that they need to stay in an area of current expertise in order to qualify. Not true!

Many franchisors do not care about your past experience. They are just looking for capable, honest, hard working people. So if your background is in the construction industry, do not automatically think that you would not qualify to own a Pet Related franchise. Think about it. Career changes are common in the workplace. Wouldn’t a “career change” in owning your own franchised business also make sense?

Franchise Consultants are there to help you decide which franchise is best for you. Many Franchise Consultants will filter applicants based on financial and location characteristics, but not past experience. That should tell you something.

There is only one person that can really answer the question. And person that is you. It all boils down to desire. What would you like to do? Whatever course you decide to take, please investigate the franchisor carefully. To search current franchises for sale, please visit www.theFranchiseMarket.com.

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Article Tags: baby power, bizops, blue chip cookies, closets by design, college hunks, computer medics of america, concrete technology inc, discovery maps, doing the same old thing, executive tans, express oil change, food restaurant, franchise industries, franchisor, franchisors, home pet, internet computer, liberty tax service, national property inspections, pet services



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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]
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