The Basics Of Franchising A Business
If you have a great idea for a business, but don't want to start from scratch, consider franchising your company. This is especially helpful if you don’t want to invest in opening up your own store.
Since 1960, the number of franchises has grown exponentially and presently there are nearly 400 different types of companies that are franchised. A quick search will pull up just about any type of franchise that you can imagine.
In this blog post we will explain what franchising is and how it works as well as list some tips for buying a franchise.
Franchising is a business form in which a person or company opens up a shop, store, or restaurant that's franchised to the franchisee. The franchisor supplies different tools and techniques to help the franchisee run his business. The franchisor does this because he wants to make money off of the business.
Just like any other business, you will need to borrow money (retail capital) in order for your firm to succeed. For this reason, many entrepreneurs choose to buy a franchise instead of starting from scratch. So as you can imagine, buying a franchise gives you financial security and is much safer than starting an entirely new firm from scratch.
If you are interested in buying a franchise, there are a few things you will need to look at:
The franchise fee – this is the money that you pay the franchisor to use his business model and get his brand name. The cost of this fee varies greatly based on what company you want to buy from.
The royalty fee – this is the percentage of gross sales that goes back to the franchisor. This fee can be as low as 2% and 5% or it can be much higher depending on how much help your franchisor gives you.
The ongoing support given by your franchisor – make sure the franchise owner provides ongoing training and support for his franchisees. This is extremely important as you will want to drive your own success.
Costs - the cost of buying a franchise varies tremendously depending on what company you buy from and what type of franchisor you choose. It can range anywhere from a few thousand dollars to hundreds of thousands of dollars. It is very important that you thoroughly research all of the different franchise models before making a purchase.
These are just a few things that you will want to consider when deciding if buying a franchise is right for you or not. Research it before making any big decisions like this one, as there are many reasons why buying a franchise may or may not be right for your company and business model.
Good luck with your search and getting started in the world of franchising!
Shawn Peterson is a freelance writer who writes on a wide array of topics. If you're interested in buying a franchise, he has several articles that should help you get started. The company he wrote about for this article is one of the nation's best franchises. For more information on their franchises, click here: http://localfranchiseopportunities.net/
Article Source: ArticlesBase.com - The Basics Of Franchising A Business
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Shawn Peterson has written an excellent article to help people who are interested in buying a franchise. We have a franchise available right now that you may be interested in. It's a business opportunity in the legal field, which seems to fit well with people who are interested in owning their own business. If you haven't heard of us before or if you would like more information, please visit our franchise info site .
If you are looking for a great career opportunity, this is it! If you would like to learn more about the franchise please visit: http://www.mylegalfranchiseopportunity.com/
Thank You Marion on August 28, 2013 at 4:53 PM
Marion said... This article by Shawn Peterson is a very informative one.....I am doing my research on this franchise....thank you very much for posting this. View Original Post Here or Click Here to learn more!!
Shawn Peterson on August 29, 2013 at 2:54 PM
Shawn Peterson said... Thank you Marion for your comment. You should definitely do your research on the franchise that you are interested in buying. It is extremely important that you understand exactly what it is you will be getting and why it is such a great opportunity for you. Please feel free to send more comments if there are any questions that you have as well. View Original Post Here or Click Here to learn more!!
Shawn Peterson said... Thank you Robin for your comment. You shouldn't make any sort of decision without doing some research first. This is a great way to get started on that research. If you have any specific questions about the franchise, feel free to contact us anytime and we will be more than happy to answer your questions. View Original Post Here or Click Here to learn more!!
How To Start A Franchise Business On September 3, 2013 at 8:10 PM
Wesley Stewart said... Great article! I'm getting ready to embark on a business venture with a franchise and this has been instrumental in my education of franchising. Thank you! I love your site, and will definitely be back for more. View Original Post Here or Click Here to learn more!!
Shawn Peterson said... Thank you for your comment Wesley and we are happy to have educated you on franchising. Is this the franchise that you are thinking about buying from? http://www.mylegalfranchiseopportunity.com/ If not, feel free to comment on other articles here on our site to let us know what else we can help with. We would love to hear from you and help out wherever we can! View Original Post Here or Click Here to learn more!!
Shawn Peterson said... Thanks so much for your comments John. We are happy to inform you on the franchise opportunity that we have available to you. So if you haven't already, please read through the information on how to buy a franchise and then let us know if there are any questions. We will be more than happy to help out with any concerns that you may have. Thanks again for your comment! View Original Post Here or Click Here to learn more!!
Shawn Peterson said... Thank you Mr. Chatham for your comments. I am glad that this information is helping your decision making process because we truly want our readers to learn as much as possible before making their decision on what they feel will be the right fit for them.
Conclusion
Buying a franchise is probably the most effective way to start a business. If you're one of those people who just wants to be their own boss and run their own operation, buying a franchise might be the best option for you. Contact us if you'd like more information about how to buy a franchise, or if you are interested in one specific franchise.
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Shawn Peterson said... Thanks so much Mr.