Tag archive for ‘franchise’

4 Top Reasons It’s Smart to Buy a Franchise

by Admin - on Sep 11th 2018 - Comments Off on 4 Top Reasons It’s Smart to Buy a Franchise

Cartoon holding a franchise dollhouseEveryone has aspirations. For some people, their dream is to start a business and control their destiny. If that’s your goal this year, then it’s a good idea to consider buying a franchise. But what things can you gain by buying a franchise instead of venturing out independently? Here are four of them.

1. A Proven Record of Success

One of the top reasons to buy a franchise is that you get an existing method of doing business that already works. Sign business opportunities from Signarama franchise, for instance, can provide you with a successful business model guaranteed to provide results. You also get a lot of information that you can verify with other franchisees and make your final decision.

2. Necessary Training

One of the reasons new businesses fail is because the owners do not have the necessary skills to run them well. Franchise companies help prevent that by providing training programs that equip franchisees with the best ways to run their businesses. Additionally, you get adequate reference materials to assist you to deal with any situation that comes up as you run the business.

3. Marketing Help

Most startups don’t have enough money to launch formidable marketing campaigns. A great marketing strategy is just what a new business needs to gain recognition. With a franchise, you get lots of marketing assistance from the franchise company for both your grand opening and afterward. This is a great boost to your business.

4. Operational Support

As a new entrepreneur, you need all the help you can get in running your business. A franchise company has an experienced and dedicated staff to help navigate your journey as a business owner. You, therefore, have the assurance that there’s someone to call on when you need help.

Running a business comes with lots of challenges, especially for new entrepreneurs. Thanks to franchises, however, many of these challenges are eliminated.

How Much Should You Pay for a Retail Franchise?

by Admin - on Aug 9th 2018 - Comments Off on How Much Should You Pay for a Retail Franchise?

woman owning a clothes shopIf you’ve been thinking about buying a T-shirt franchise in Australia, the cost may reach at least $50,000 according to the Franchise Council of Australia (FCA). Fully Promoted adds that this will still depend on the type of business.

The FCA said that other common expenses of retail franchise purchases include a fixed shop-front and store fittings. Before signing a deal, experts said that you should conduct your own due diligence, especially now that some brands aren’t performing well.

Cost Considerations

Those who want to buy a service franchise may invest for as low as $5,000. As these businesses don’t require a store front, most people can operate at home or in a mobile unit. Prices would vary for a store-based or service franchise, but remember that you would spend more when buying a franchise from a more popular brand.

In case your savings won’t be enough, the FCA suggests taking out a loan from a bank or a franchise lender that has an accredited franchise system. This means that institutions have faith in the profitability of the business. You may also benefit from lower interest rates and the amount of property security by doing so.

Due Diligence

If a franchise system already shut down hundreds of stores, it could be a red flag for not buying a business. Be wary of acquiring existing franchises since you may be assuming more liabilities than assets.

An existing franchise riddled with loans and payables is an example. That’s why some people still do their research on a retail franchise, even if the system has grown to include more brands.

The cost of a franchise primarily encourages or deters buyers from becoming a part of a franchise network. Think carefully if you can meet your desired franchisor’s requirements. Not all established brands are always profitable for the same reason that smaller franchises aren’t always a bad venture.

3 Business Types Most Suited to Franchising

by Admin - on Apr 10th 2018 - Comments Off on 3 Business Types Most Suited to Franchising

sandwiches ready to be servedStarting a business can be an overwhelming prospect, especially if you are a newbie entrepreneur. Aside from the pure guts and energy, it takes to get something built from the ground up, dipping your toes into the world of business requires financial investment as well. There are even loan broker franchise opportunities you can explore if you want to.

You have to answer the question of what kind of business to build. As per experts’ advice, your best bets are any of these franchise opportunities.

Fast Food

The best thing about a fast food franchise is that these businesses have proven operational systems in place. On top of that, most of them have already established brand recall hence you no longer need to shell out big money on marketing and promotion.

If you are considering purchasing a fast food franchise, these lucrative names should be on top of your list: Jimmy John’s, Subway, and Dunkin Donuts.

Food Carts and Trucks

Food carts/trucks have come a long way from being decrepit food stalls serving people on-the-go to aesthetically pleasing and diverse food spots catering to all iterations of foodies.

An individual food cart/truck is said to rake in between $5,000 and $10,000 a week, which makes this the right time to hop on this bandwagon.

Service-Type Businesses

These businesses work in a rather simple model: money for time. Customers hand in cash in exchange for all manners of services from landscaping to grocery shopping. For as long as working people have a surplus of money and deficit of time, your investment stays safe with these service-type brands.

Getting a franchise for a pre-existing brand or business is the best way to assess whether you have it in you to thrive and succeed as an entrepreneur.

These established names will allow you to have both the autonomy to run your business and the support you need from an organisation that knows what it is doing and has your best interests in mind.