Want to own a business? Have you considered a franchise? | Be The Boss

Want to own a business? Have you considered a franchise?


Mar 11, 2013

Want to own a business?  Have you considered a franchise?

A lot of would-be business owners don’t even consider the possibility of franchise ownership.  Maybe they think franchising is just about fast food which it’s NOT!  While there have been many successful food franchises, almost every type of business can be franchised.  You see, franchising is simply a way of organizing a business to spread the incentive across many owner/operators and grow quickly to dominate a market.  While franchises comprise about 10% of the retail and service businesses, they take in almost HALF the total revenue!  And, while only about 20% of independent start-ups still exist after five years, 95% of franchised businesses are still around.

Consider a few of these advantages in owning a franchise.  When you buy a franchise, you can choose YOUR priorities – like:

  • Location – Close to home or where you dream of living, doing business out of your home, an office, a retail store, or a light industrial environment.
  • Employees – Have a lot or a few, blue collar, white collar, skilled or unskilled.  You can even have a high income business with NO employees.
  • Hours – You can work fast food hours or you can choose a business that is weekdays 8:30 to 5 with few or no emergencies.
  • Growth – You can own a business that you can grow to the point of backing off to spend time pursuing other things you love or you can build an empire of multiple locations – even own an entire state!
  • Outbound or inbound – You can own a business that is highly location dependent where people come to you or you can have an outbound, service oriented business that is not location dependent.
  • Your job – Do you like sales, customer service, technical work, employee team building, and operations?  You can choose the work you like most.
  • Investment – There are franchises available for as little as $20,000 but if you want to lock up the whole state for the next “Krispy Kreme” franchise, you can spend hundreds of thousands.

The point is you have a lot of flexibility in your choices since there are over 3,000 franchises available, and there is a business structure that can fit almost anyone’s goals and dreams.  In addition, here are just a few things you get when you buy a franchise.

  • Proven, Systematic approach to starting and staying in business - Policies and procedures in HR, accounting, marketing and information systems.
  • Experience – Thousands of man hours per year doing exactly the same thing you’re doing.
  • Name recognition
  • Group purchasing power
  • Training – In house as well as videos, manuals and computer learning
  • Ongoing support – Coaching and mentoring while you’re building your business
  • Marketing expertise – Knowing where to spend your money can mean the difference between success and failure
  • Support of other franchisees – Conventions, E bulletin boards and teleconferences

If all of this is intriguing, let’s talk.  FranNet provides no-cost guidance, information and support to individuals who are interested in purchasing a franchised business. FranNet consultants specialize in helping their clients find the right franchise through their exclusive matchmaking process. Meetings with clients face-to-face are preferred but FranNet consultants also advise clients via the phone and Internet. FranNet also hosts numerous informational seminars and educational programs that are open to the public each month throughout the country and online. To learn more about opportunities with FranNet call 1-800-FRANNET or visit www.frannet.com.