|Small Business Information|
Franchises: How to Find the Best Franchise Opportunity for You
If you are looking for a franchise opportunity, the choice is mind boggling. There are literally hundreds if not thousands of different types of franchise available for you to invest in, with the same variety in cost. Each have their own benefits and usually the more you pay the more potential to earn. You obviously want to select a profitable business venture so it is important that you thoroughly research.
The major benefit of starting a franchised business is that the business model has already been proven. As a result, only 5% of franchises fail in a year compared to the 30% to 35% of non-franchise small businesses. This means that franchises are the most successful way to set up your own business.
Selecting the franchise that's right for you.
Types of business franchises.
Have you ever wanted to take control of your life, run your own business from home and spend more time with your family? If you have you've probably already searched on the Internet using keywords like 'Home Business Opportunity' or 'Work From Home', and you've probably also failed miserably only finding scam opportunities and sites that want to take your money for nothing in return.
There are virtually no free opportunities on the Internet anymore. You just can't get something for nothing. You can, though, buy the franchise for an established company and run it how you want to.
Some franchises, like Press-A-Print will offer you full training so that you can truly hit the ground running. Press-A-Print are a printing company and you get full training helping you become fully skilled at printing any image onto any product. Hands on sessions mean you will learn all the tricks of the trade, and the easy to use equipment is, of course, provided. This lucrative opportunity is available for around $20,000.
There are many different types of franchise businesses available including computer service businesses and even car repairs. There are a few examples at the end of this article.
Costs of buying a franchise.
There are other costs associated with buying and running a franchise of your own. There are usually less costs associated with beginning a home business; there are no building costs, no utility costs and no purchase costs but an online home based business isn't for everyone and there are franchises to suit all your needs and requirements, whatever those needs may be.
There are always costs associated with setting up your own business, and owning a franchise is no different. The big difference, of course, is that you are buying a business that already has a proven brand and often popular well known name.
You will have to pay the initial franchise costs as well as the purchase of land or buildings or a security deposit on rented buildings. Often your dream location will need a little work to make it your perfect dream and this will all cost money. If your new franchise business is a produce selling business you may need the initial outlay to purchase goods or raw materials to create the goods. Shipping, sales tax, insurance, labour cost and solicitors and accountants fees may all play a part too and should be budgeted for but don't let this put you off buying a franchise. They can be extremely profitable in the right hands. These costs can combine to total anything from under $50,000 right up to $1,000,000
Examples of franchises available.
V2K has a product that really sets itself apart from the rest of the competition. They specialise in creating window fashions, and their selling point is the virtual shop window. They create a computerized graphic representation of the window so that potential customers can see for themselves exactly what it would look like. Previously one of the main reasons that potential customers wouldn't become paying customers was because they couldn't 'visualize' the end result.
The V2K program means there is no need to purchase premises, and should you wish to do so, a simple storefront would do. No need to purchase any inventory thus saving you a little more money. No need to purchase a special company vehicle. Initial training is included in the start up fee along with ongoing support. The average total investment for this franchise is approximately $50,000.
Looking on the Internet for franchise opportunities you will see plenty of success stories pertaining to 'The Little Gym' franchise. As a stand-alone business, The Little Gym has been in operation since 1976 so you really are buying a proven business. The Little Gym helps children develop motor skills and builds confidence as well as burning energy and keeping fit and healthy.
The average outlay needed to own and run The Little Gym as a franchise is approximately $150,000 but you are not only buying into a proven name you are also helping make a difference to children in your area. A small price to pay.
The key to making a success in a franchised business is to choose a franchise that matches your interest. Is it food, automobiles, fitness perhaps? These days there's a franchise for just about everything. Then, narrow down your options, taking into account the capital you can invest, the track record of the brand and the success stories of other franchisees. Due diligence is the key ? thorough research at this stage, is the solid foundation for a successful business.
©2005 Nick Carter
Nick Carter is Webmaster of http://www.best-franchise-resources.com. As the name suggests, the website is aimed at being a comprehensive resource for anyone considering purchasing a business franchise.
The Role of the Business Model and Strategy for Business
People will always stress that having a well researched business plan is key before you start your business. Although creating a business plan is often an important step in the evolution of a business, particularly if you need financing or you are not experienced at running a business, it is not necessarily the essential first step. There are two key elements that should be completed prior to the business plan:
Mission Statements: More Important Than You Thought
If an organization lacks a mission statement, it is worthwhile to at least try to draft one. Even if it does not yield an acceptable final draft, the exercise will be rewarding for the hard work which must go into figuring out the company's direction and putative purpose.
Be Nice to Your Payroll Department
Ok, so next to the taxman, your company payroll department might well be the most criticised people on the planet. Of course, when your pay is accurate and on time then you love the payroll people with a passion but when things go wrong it is a completely different matter. Rightly or not the payroll professionals come in for an awful lot of abuse if your pay is not perfect.
Proper Care and Feeding of the Business Owner
That sizzling sound you're hearing may be a symptom of a major hidden cause of businesses closing their doors. It's called burnout. And you may be its next victim. Often the last thing a business owner considers is his or her health and sanity. The burnout that results from overwork and stress can deliver a death blow to the very enterprise you've been giving your all to create. Setting a course for your business that includes the proper care and feeding of the business owner is a critical success factor in every business.
The SBAs Savviest Program
Forget everything you've ever heard about the U.S. Small Business Administration (SBA). The negative connotations may have been warranted in the past, but the SBA is different these days. The SBA is worth every penny of its more than $22 billion budget on the basis of a single program alone: the SBA 504 Loan Program for small business owners who want to acquire or develop their own facilities.
Setting Up a Pressure Washer Rig to Clean Concrete
Maximum efficiency in the cleaning industry is a key to survival and higher rates of income. The trailer or tuck unit needs to be set up so that you can use a garden hose and external water supply, because you never know when you are going to need one for concrete or other types of jobs. Any new rig should also come with quick releases between the tank and the intake tube to the pressure washer. There should also be a valve that is turned so the water is running from the black tank that now holds the external water that comes in if you are running thru an unmodified hot water pressure washer skid unit with a float tank.
4 Areas Where Your Business is Losing Money
In my 18 years of consulting I have heard it all. Everything from competition to managed care as reasons why it's hard to create the business of your dreams. New customers are needed to keep any business going but it is how you and your staff manage these customers that determines your success in business.
Combating Over Regulation of Small Business
Many small businesses do quite well due to the blood, sweat and tears of their proprietors. Unfortunately in doing to well often you find that the competition uses the government to attack you. They do this by complaining to various local agencies about how you are not following certain rules, such as the dumpster out back has broken hinges on the doors or that your handicap spot in front of your store is fading? Often they will even make stuff up simply to get the enforcement folks out there who will start to go through your business with a fine toothcomb, we all know what that means, they will indeed find something wrong and you will get a fine of some type. This general harassment is so common that it takes its toll on the small businessperson.
Dont Wait - Sell The Future Now!
Just as you are about to say "good-bye" to your hair stylist, you get the question, "shall we make our next appointment?"
Eight Key Steps to Selling Your Business and Cashing In
This year, some 700,000 American businesses will be sold. Most will be small and mid-sized businesses like yours. If you, too, are thinking of selling, consider these practical steps for making the process go smoothly.
How to Achieve Real Success in Business: Five Breezy Tips
Achieving real success should be the goal of any good businessman. But what is real success? I believe that it is no just money, or instant growth. In my opinion real success is composed of the following factors. Good growth, good reputation and above all peace of mind. In this short exposure I try to elaborate on five factors pertinent in achieving this real success.
The Care and Feeding of Your Small Business
While I was hard at work last week, an everyday drama was playing out in a hospital room in the next town. My niece was working on presenting me with a new great nephew. Tyler James came into the world Thursday afternoon, mother and child are both doing well. Naturally, I am able to discern at this early stage that the child is adorably cute, remarkably bright, and very advanced for his age. Takes after his Great Aunt, I'm sure.
Pet Grooming Business
Do you like animals? Would you like to work for yourself? Pet grooming could be the career for you.
Shortcuts Will Kill Your Business
Think of your business as a living, breathing, organism. It requires you to give it a large portion of your time and effort in order for it to grow and flourish.
Do You Make These 7 Deadly Cash Flow Mistakes?
Managing cash flow is every small business owner's most important function. Avoid these seven deadly mistakes to make sure you aren't creating cash flow problems in your business.
Cashing In Your Chips & Pastures New
No, I'm not talking about gambling or dairy cows ? although business is often referred to as a gamble, I'm referring to your exit strategy. That time when you decide to 'play no more' and go off and practise your golf swing. Yup, I'm talking about selling your business?
Small Home Business: Ad Copy Secrets
So it's time to invest some finances into advertising your business and you are considering producing a flyer to advertise your business. Rather than sweat all night on writing the perfect flyer, first take some time to consider what the experts have found to be effective.
Accepting Checks in Your Business Virtually Risk Free
Most businesses accept checks as form of payment for goods and services. However, accepting checks can be a risky endeavor if your company doesn't follow good policies and procedures for preventing loss from bad checks. In fact, the reason some businesses do not accept checks is because of a history excessive "bad checks" that costs their business to much money and aggravation, preferring to accept only cash and credit cards. Whether a business currently accepts checks or not, they can minimize the cost of accepting checks to less than 1%, which is less than half the 2% to 3% cost of credit card processing. The only payment method cheaper is accepting cash.
Pressure Washing Aircraft Hangers at the Airport
If you are looking for a way to own your own business using a pressure washer or expand your current pressure washing business you might consider cleaning Aircraft Hangers out at the airport. Why Wash Aircraft hangers? For one it can lead to much more work cleaning all sorts of things at airports which is an encapsulated market. Larger airports have terminal buildings, staging areas, parking structures, fuel depots, retaining walls, security vehicles, airport shuttles, rent-a-cars and of course aircraft. If you get a job cleaning a hanger or several you will be seen by others who need services desperately.
Top 10 Lessons for Small Business Success - As learned From My Twin 3 Year Olds
Small business success is very similar to learning to walk, talk and spell. The basics have to be understood before moving on to the next step. I am blessed to have twin 3 year old girls in my life and am amazed constantly how much I learn from them on a daily basis. As I watch them run around and explore, I find myself realizing just how much my observations apply to being successful and happy in life and in business.
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