22 Feb 2008 03:51:01 | Ernie Horning
Franchises offer the first time business owner a proven and
successful business opportunity. If you are looking to start
your own business for the first time, franchises provide you
with the greatest opportunity for success. When you purchase a
franchise from the "Franchisor", and become a "Franchisee", you
are not only purchasing a business, but a complete business
system. Franchises have over a 90% success rate, compared to
about a 15% success rate for those indidviduals starting their
own businesses from scratch. Franchises have spent years
developing and modifying their systems of doing business, and
they pass that "trail and error" knowledge on to their
Franchisees. Initial training exists for every aspect of the
business, which can last anywhere from 1 to 2 weeks. Training
usually takes place at one of the franchises existing locations
or their corporate office. Training may consist of the day to
day "hands-on" positions required to run the business, to
marketing, hiring, purchasing, bookkeeping, management and
supervisory techniques.
Assistance is available with "demographic" reports to aid in
selecting the right location. Support is also available for
lease negotiation and "build outs", if necessary. Pre-opening
strategies and marketing materials for newspapers, print-ads,
handouts, yellow page advertising, radio and even TV ads are are
complete and professional.
During the first few weeks of business the Franchisor may
provide its own personel to the Franchisee for assistance and
support. This helps ensure a smooth opening. Additionally, once
the business is open, a Franchisee will receive ongoing
assistance and support from the Franchisor, not to mention
support from the other franchisees, all who are all just a phone
call away.
Once a year or more Franchise Meetings occur between the
Franchisor and their Franchisees to exchange ideas, develop new
techniques and startegies, and to compare progress and profits.
All of this is not free, of course. Franchisees normally pay the
Franchisor an initial Franchise Fee, plus monthly royalties
which can range from 3% - 12% of their total income per month.
But it can be well worth it!
In owning a Franchise, you are in business for yourself, but you
are not by yourself!
(Copyright 2005-ehbvi-www.businessventureinc.com)
(Copyright 2005-ehbvi-www.businessventureinc.com)
About Author :
Ernie Horning is Franchise Consultant and owner of multiple
businesses. He is a former franchise owner and writes articles
for www.businessventureinc.com
