Get The Right Franchise

You could have bought a fast-food franchise. You can do that by acquiring one of the many new franchises. If you get a strong franchising system, the odds of surviving and making good as a small-business man or woman multiply impressively.

And some of the strongest new franchises are those that provide services to businesses that cannot themselves afford to hire the people and buy the expensive equipment to do the work. You could provide such services for businesses as typing, copying, telexing, photo copying, printing, and many more in a matter of office works.


Service businesses have added a new dimension to franchising, but you also can find opportunities in its traditional backbone- retail stores. There is strong potential in stores that sell the more popular brands of home computers, TV equipment and inexpensive furnishings. Restaurants that serve ethnic specialties such as Greek or Mexican foods are taking off as well.


Revenues of some franchises are expected to grow much faster than the average in the immediate future. They include automobile, refrigeration and air conditioning repair and service chains, printing and copying services, home repair and maintenance firms, and temporary-employee agencies, etc. The reasons are an improving economy and greater public recognition of franchise trademarks.

There are professional franchise consultants, but be careful in choosing one. Some people with little experience have set themselves up as franchise consultants and promise much more than they can deliver. you best bet is to deal with a lawyer who is familiar with drawing up franchise contracts and with knowledge of the rules of franchising.

For recommendation, try a franchise operator in your area or the local bar association. Before hiring a consultant, ask for the names of past clients and contact them. before you sign a contract to buy franchise, the parent company must give you a disclosure statement. From it you can get the names and phone numbers of several franchises. You would be wise to phone them to find how well they are doing.

when you buy a franchise, you pay the company an initial fee and later a continuing royalty that can vary from percentage of gross sales. In return, you can use the company's trademark and franchising services for a set period, usually 10 to 20 years. The basic service is to give operating instructions, often covering from sales tactics to the color of the office carpeting. Capable companies also help you pick a business location and buy equipment and inventory. their representatives sit in with you when you hire the first employees. they also hold your hand through crises.

Instead of running franchise themselves, many investors hire managers to operate them. but franchisers usually feel that the owner's attention is crucial and therefore will not sell units to people who intend to be absentee owners.
That is understandable; few salaried managers will put in the 60 to 80 hours of work each week that it takes to make a business succeed.