Make Your Franchise Work
Profran Consultants Can Assist You In Finding That Right Franchise
Franchises are an excellent choice for people wanting to start their own business, but who would prefer to avoid the risk. They supply a first time business owner all the advantages of being their own chairperson, while still having the security of an established brand, and all that goes with that. Profran Consultant has helped thousands of folk over the past 30 years.
naturally, the disadvantage is that there are royalties to be paid, so your revenues won’t be as high as if you had started a completely new firm, then again, the security of being a part of a bigger organization should offset that.
The trick, when choosing a franchise, is to find the right one, that gives you the right mix of stability, and liberty, and here are my top tips, to make your search just that little easier.
- Check the franchisor’s certifications. They should be registered with the appropriate franchise organizations in your country. Of course, that doesn’t always guarantee a hassle difficulty problem free association, but it does mean that you are going to at the very least have recourse in the case of a dispute.
- Make sure that you are able to afford it. Investing in anything, whether a franchise, or your own business, requires capital outlay, and infrequently taking a loan. If you are unable to afford the franchise you want, look for other possibilities, and make sure that you only accept financing deals once you have gone over them with a fine toothed comb! Also remember that while turnovers could be high, you’ll have to pay royalties on your earnings, which could put a big dent in that bottom line!
Of course, you do not have to stick only to industries that you have experience in, but it’s a lot better to make successful of your franchise if you have the basic abilities before you get started. As an example, you may have management experience – which could stand you in good stead in a restaurant franchise.
- Research, research, research. Look industry. Speak to folk in the industry, existing franchise owners, and potential clients. Glance at the numbers, the brand and everything else that has anything to do with your chosen franchise. The more that you know, the less certain that there’ll be any surprises later right?
The great part about buying into a franchised opportunity is that it IS possible to find almost everything out before hand. Unlike a new business, where a lot is based on projections, ideas, and hopes, franchises have a history.
make use of that before making a decision to commit to a particular franchise, and make sure that you weigh up all the good points and bad points. If you follow all these tips, and your chosen franchise still stands head and shoulders above the rest, chances are you are on to a winner, and you’ll have years of trouble free, franchising success.
About the Author
Ken Hollowell, President/CEO of Profran Consultants has over 30 years been consulting with companies wanting to become a franchisor and develop a franchise system. Ken Hollowell has developed over 800 franchise business throughout the world. He is one of the most sought after franchise consultants in the USA. In addition to the franchise development work, Ken prepares private placement offering for companies needing to raise funds for their projects or companies. Ken can be contacted at www.pro
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