Doing Business: Franchising
Embarking on a web design company or fast food franchise can be very beneficial if handled in the correct way. There aren’t many to choose from, but the ones that are available should definitely be taken advantage of.
Franchising is defined as a business method that involves licensing of trademarks and methods of doing business. This includes:
- Chain store – retail outlets which share a branded and central management
- Exclusive right – sell branded merchandise
- Media franchise – ownership of the characters and setting of a film, video game, book, etc.
For example, as an iDesign 247 franchisee, an individual is granted the opportunity to market a well-liked brand and service. With a low initial investment, becoming an owner will automatically expose them to a mass group of consumers ready to take advantage of the services in which iDesign 247 offers.
Becoming an iDesign 247, or any other company, is both easy and valuable. You will be granted with the resources, creativity and knowledge of a growing brand. The company should always be available to help you prosper as a business owner. Read more
The Franchise Agreement-What You Must Know
Franchising can be a great way to start your own business.
And the failure rate for franchises is much less than for non franchise start-ups.
But you still need to do your homework and ask and be satisfied about many questions which you might not think about in your enthusiasm to start your own business. Read more
Thinking of buying a franchise?
Surveys tell us that most people would like to start a business. Those same surveys tell us why most people don’t:
1. They don’t have the money.
2. They don’t have the time.
3. They don’t want the risk.
4. They don’t know how.
Network marketing avoids all four obstacles. In fact, here are 20 reasons why a network marketing business is better than a traditional business or franchise:
1. Low start up. A few hundred dollars and you’re in business.
2. No risk. Most people who start traditional businesses go into debt to do so. When the business goes away, the debt remains. Not so in network marketing. If you haven’t invested much, you can’t lose much.
Entrepreneur Magazine Names Oxi Fresh Carpet Cleaning a Top Franchise in Multiple Franchise Categories
Lakewood, Colorado (April 23, 2009) Oxi Fresh Carpet Cleaning®, a revolutionary carpet cleaning system committed to environmentally friendly procedures and products, has been awarded recognition in multiple categories of Entrepreneur
Magazine’s 30th Annual Franchise 500 listing. The criteria for judging franchises included factors such as, “strength and stability, growth rate and size of the system.”
Oxi Fresh, which was founded in 2006, was ranked #19 out of 50 in Entrepreneur Magazine’s Top New Franchises. Franchises in this category must have been started since 2004. Oxi Fresh received a #68 raking for the category of Top Low Cost Franchises and #85 in the Top Home Based Franchise category. Overall Oxi Fresh was ranked #308 out of all the franchises that submitted their businesses to be reviewed and judged.
Franchisee Confidence Earns Oxi Fresh a #2 Ranking in the 2009 Franchise Business Review
Lakewood, Colorado (April 23, 2009) Jonathan Barnett, MBA, President of Oxi Fresh Carpet Cleaning©, is proud to announce that Oxi Fresh has earned a #2 ranking in the Mid Size Business category of Franchise Business Review. Thousands of franchisees from a number of franchise businesses are surveyed each year to measure how they feel about the business they have joined. The survey asks franchisees to rate their level of satisfaction regarding such issues as the financial opportunity afforded, the training and support provided and the relationship they have with the franchisor.
“We are extremely pleased with this ranking from our franchisees,” said Barnett, “because it really validates the quality of the system we are building together with them. To receive this award we needed to fulfill our promises to our franchisees and they in turn needed to feel they offer a valued service to their customers.”
How To Host An Effective Grand Opening Celebration
Advertise
In the weeks before your grand opening, get your name out there as much as possible. Check out local newspapers, and websites like CraigsList to advertise the details of your grand opening.
Budget it
It can often be a good idea to put together a special budget just for your grand opening. After all, this is more than just a store opening—it has huge marketing potential as well. Make sure to include the costs of prizes, extra staff, food, and any other non-regular expense. As long as you keep yourself in check, your grand opening will be well worth its cost.
Extend your Hours
Open your store a couple hours early and stay open later to allow for more people to see what you have to offer. Boasting extended hours on your grand opening ads will help get more interested patrons in your door and observing your services.
Franchise Opportunities - Tips for Achieving Your Franchise Ownership Goals
Is potentially owning a franchise in your future? Do you have long-term projects with short-term expectations? If you do, that is a sure path to frustration and failure.
Owning and operating your own franchise is a decision you are making now along with how you envision your future to be, both in the short term and in the long term as well.
Career change also takes time and planning, and it doesn’t happen overnight. The due diligence process cannot be underestimated with regard to its intrinsic value in the equation of your ultimate success.
Your world has shifted. There’s text enabled cell phones, internet enabled cell phones, twitter, voice mail, e-mail, pagers, and faxes that have made a communication “waiting” period unacceptable and almost obsolete. With information immediately available, we expect relationships and goal achievement to be done the same. As you read this you know that it is unreasonable to expect that, don’t you? We’ve been led by advertisers to believe that we deserve immediate gratification, and that it is readily and effortlessly available!
Buying a Franchise: the Importance of Talking to the Franchisor
One thing that surprises me when working with people who go through the franchise search process is the fact the large majority of them, while trying to execute their search, actually fail to talk to a franchisor.
Once candidates begin their search they usually do quite a bit of research themselves. They go online, fill out forms and send out requests. However, they fail to act on the majority of information sent to them and usually resort to examinations of the franchisor’s site and a short review of marketing materials available.
It appears that the candidates often base their opinions about franchise opportunities mainly on their impressions of seeing the business from the outside. They fail to talk about the business with the company itself. They don’t consider an even more valuable next step in the process, serious discussions with the franchisees currently in the system.
Best Single Question to Ask When Buying a Franchise
During the process of buying a franchise potential candidates come up with numerous questions. If they are prudent, they will evaluate all aspects of the selected concept’s business model, talk to the potential franchisees and gather information during their visit to the company headquarters. In my experience of evaluating franchises I have discovered that one questions, in particular, provides a good general overview of what a particular franchise concept is all about.
This question is directed to the franchisees that are currently part of the system. Talking to them is one of the most important things the candidate can do when planning to buy a franchise. I recommend asking that question towards the middle of the general conversation with a specific franchise owner. Primarily, this question has financial implications. Financials should be the centerpiece of any conversations held during the process of buying a franchise.
The question is: “Do you think that the value that you get in this business is worth the fees and royalties paid by you to the franchisor?” It may not seem like much, but I found that this question, more than any other, gets people to open up on their experience of being a franchise owner. Most likely, they ask themselves this question ever month they have to make that royalty payment. Thus, you are likely to receive an elaborate answer with some personal reflection built into it
Buying a Franchise: the Value of a Franchise Consultant
Since I am a franchise
consultant/broker, some may dismiss this article as biased. However, the main point that I am trying to address on this page is to analyze the actual dynamic of searching for a franchise and the realistic value franchise consultants bring to the process.
When searching for a franchise, entrepreneurs often come across various franchise consultants and wander: “Why should I use their services?” The answer is simple: “To save time and money.” Franchise consultants may not provide a total solution, but their services usually come at no cost and they regularly spend hours interacting with people who buy and sell franchises, making them a good source of information
It is rare to for anyone to actually know a franchise consultant before seriously starting their search. Plus, there are just not that many franchise consultant around. It is a niche profession that was born from the franchisors’ constant thirst for more qualified candidates. The first time people start hearing about the franchise consultants is when they actually start searching for a franchise.