If you are looking for a new investment consider a franchise. Franchise opportunities are everywhere from your neighborhood McDonalds to Subway. A franchise is a business model that is easy to follow, even for first time business owners.
A franchise actually offers many benefits including ongoing support and assistance from the parent company which might include marketing, technical assistance and sourcing. A franchisee isn’t totally reliant on the brand and parent company though and it takes a lot of effort to make the business a success.
There are many franchises around the world. A franchise is a business system where a private entrepreneur purchases the rights to open and run a location of a parent company. The franchiser and franchisee have a contractual agreement that explains the operating regulations as set by the franchising company.
Like any business a franchise has its positive and negative points. Benefits include lower failure rates, brand recognition, and a training and support system from the parent company. Disadvantages include the initial start up cost to buy the rights of operation and limiting franchiser contracts.
The Franchise Business Review, a franchise market research company, came up with a list annual franchisee satisfaction survey that polled more than 400 companies.
Senior care businesses were among the most satisfying and highly ranked companies on the survey. With the American population set to double its already large percent of seniors by 2030 it is a business that has a constant need but also that is rewarding. From fitness to gardening and retail shops there are many ways to franchise.
A franchise is a relatively simple way to start a new business. Start up costs vary, as do requirements and territories. Small business funding is key to beginning any business, a franchise included. There are many ways to obtain small business funding including borrowing funds from a bank or financial institution or selling ownership interests in exchange for capital (equity financing).
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