Owning a franchise business is becoming an increasingly popular way for people to own their own business. Everywhere you go, it seems like many of the stores and restaurants look all the same. McDonalds, Wendy’s, 7Eleven, Postal Annex, just to name a few. You could be in the southern tip of Florida or Seattle Washington, every McDonalds has pretty much the same appearance, the same menu, the same kid’s play area, wherever you go.
Now some people would argue that this is a bad trend since it erodes local or regional identity. I would have to partially agree with this. However, it’s nice to know that if I order a Big Mac and a large fries in a McDonalds anywhere….. I mean it could be in Timbuktu, I can be reasonably confident that it will look and taste the same as the Big Mac and a large fries I can get in my home town. That’s the beauty of Franchises…… They’re consistent……They’re reliable…..They’re familiar. Customers like constancy and reliability. That’s why there’s a new franchise business being opened every eight minutes of every business day. So whether you like the trend or not, franchises are becoming an increasingly popular way to do business. Therefore, you might want to consider to make the trend your friend and consider franchising as the way to start a new business.
Now there are two sides to the franchising coin. One side is the franchisor. Franchisors usually start out as successful entrepreneurs that have a profitable and well run business. After a number of years they may have expanded to a number locations. They’ve worked hard and have spent a lot of time and money establishing their brand. Their logo helps their customers easily distinguish their outlets from competitors who provide similar goods or services. They also know they have a proven system of doing business that can be successfully duplicated almost anywhere. They have a great business, but they’re frustrated as hell. Their expansion plans are progressing at a painfully slow pace. So far, they’ve been using profits from their business and bank loans to expand. It’s working, but it’s slow and tedious. So they have to find another way.
Now these guys are ambitious. They’re not satisfied with having two or three outlets in their home town. They want bigger things. Their dream is to expand nationwide. And why stop there. Their plan might even be expanding their business internationally. As a result, they need to raise a lot of capital and soon.
Now one option they may have considered but probably discarded right away was selling shares in their company. This option was discarded because it would result in a significant dilution of their equity. They wanted to avoid dealing with shareholders and a board of directors who are often more concerned about short term profits rather than the long term growth and viability of the company. As a result, they turned to a tried and true way of expanding their business….that of franchising.
If you are a successful business owner that is seriously considering creating a franchise business, I urge you to check out NewBusinessCreator.com. This website will give you much more information than what was covered in this presentation. It will also give you the tools and resources needed to create your franchise opportunity.
When you are ready to start selling franchise outlets, I would strongly recommend that you list your franchise business offering on NewBusinessMarket.com. There are thousands of potential franchisees looking for franchise opportunities on this website.
On the flip side of the franchise coin are the franchisees. These people are looking for business opportunities. Most franchisees start off as nine to fivers punching the time clock and collecting their meager pay. In 2011, the average US employee earned about $43,000. If they talk to an average franchise owner at their high school reunion, they’re astonished to find that he is making over $91,000 a year. That’s more than twice their salary! Then they learn that their former classmate is avoiding taxes all over the place. Wouldn’t it be nice if they too could get a tax deduction for a home office or their car expenses. Up till now they thought they were doing pretty good fully funding their 401K retirement plan. Every year they were funding it up the $17,500 limit allowed by the government. But now they find out it’s a joke compared to the $51,000 that their self-employed classmate is stashing away every year. What really gets them envious is they find out that their self-employed classmate currently has a retirement plan that is making more money than what he makes from his business. After making this discovery, they are now determined to take the plunge and start their own business.
Going from being an employee to being self employed can seem like a really big step. It’s especially daunting if you plan on creating a business completely from scratch. Just because you have an fun and interesting hobby doesn’t mean that it will translate into a profitable business that can pay the bills and much, much more. To start a new business, requires you to research your potential market, write a business plan and then find funding to get it going. Will it be successful? Who knows. I mean it’s an unproven idea. It could be wildly successful or a major flop. Are you ready to put your house up for collateral for a SBA loan to try it out?
Another option is to buy a business. At least with this option you have some history to determine its future success. The only problem with this choice is that the former owner is probably going to retire in Florida as soon as your check clears. If you have any problems, you’re probably going to only get his answering machine. Why is it he’s never home? He’s probably on a cruise or running around Europe enjoying the money you have blessed him with. In the end, you’re on your own. You either sink or swim depending on your business skills and the time and effort your willing to put into your new business. For many self-employed wannabes this option seems way too risky.
Another option is to buy a franchise business. Many people aspiring to own their own business are searching for a turnkey business opportunity. They’re looking for a proven business concept that has very little risk of failure. They would prefer to own a business that will give them the training and support they will need to be successful. They also want to sell brands of products or services that are trusted and sought out by customers who are already loyal to the brand.
So are you ready to leave your dead end job and be your own boss? Are you sick and tired of earning meager pay with little chance of it ever getting any better? Does owning a turnkey business with a proven track record sound like a good idea? If so, buying a franchise business might be your best solution for achieving the success you want and deserve. NewBusinessMarket.com is your best resource for finding that franchise opportunity you are looking for. To learn more about franchising, check out NewBusinessCreator.com. You’ll also find this website to be an invaluable resource for other business solutions.