I want to share an interesting ad I saw in the paper the other day: Wealthy fast food addict in search of an Austin business consultant to guide him in the purchase of a fast food franchise so he can save money on burgers and fries.

Okay! I didn’t really see that ad, but I know Texas business strategists and business coaches all around your area that could help that person, or you, find and purchase a franchise by guiding you through the process if that’s what you want to do.

Just so happens that, even though I’m awful with an opening joke, I know a few things about buying a franchise myself that I learned from Austin business consultants. This time I’ll be serious, so please keep reading.

As with anything, common questions arise that you want answered before you begin to even consider buying a franchise. Before you consult with a Texas business consultant or business strategist, you must read the answers to those questions and save yourself some time and maybe money.

How does a franchisor make his money?

They consult a Texas business coach like you will! Then, they charge a hefty fee for a franchise. After that, they collect a percentage of the sales and also sell supplies and services to the franchise. Consult an Austin business consultant to find out the standard fees and percentages for the industry in which you want to buy a franchise.

What’s more important? The initial fee or the charges down the road from sales, etc?

Assuming you’re buying into a successful franchise, definitely concern yourself more with the charges you’ll incur down the road. Those charges come directly from a percentage of your sales, not profits. Too high of a percentage can deflate your profits.

Beware of any hefty fees required up front. Make sure the franchise is successful. Most importantly, consult with a Texas business consultant or seek the help of a Texas business coach before signing any contracts.

Well, is it worth it to pay a percentage of my sales?

I can’t decide that for you. Austin business consultants say that if you possess industry experience then, yes, it could be worth it for you. However, if you’re new to the industry you want to buy into and just want to try your hand, you might be best to work for someone else first.

Texas business strategists point out that you pay a percentage of sales. That means what you pay doesn’t take into account operating expenses and the like. If you don’t know the industry, you can’t plan ahead so that you can pay those fees and still make the profit you need.

What other costs can exist?

You might have to pay a percentage of advertising costs and not just for your area. This might include local, regional, or even national costs. Again, consult with an Austin business consultant. Take advantage of the help that Texas business coaches can give to you to help you make the smart choice.

What else should I watch out for?

Talk to other franchise owners and a Texas business consultant before proceeding with buying any franchise. I can’t say that enough! However, you should know if you could sell the franchise easily, if the franchise fees can be increased for any reason, and how your industry skills stack up against others who bought into that franchise. Again, talk to a Texas business strategist and other franchise owners. The time you take to do your research will pay off in gains instead of losses.

Ben Jordan is x-Fortune 500 Austin Business Consultant, who has consulted small business owners, up to $30 Billion dollar companies around the country. For a short time you gain access to his now infamous, "The No BS Video Newsletter" FREE for life, a $447 value by visiting http://www.whoisbenjordan.com

Article Source: http://EzineArticles.com/?expert=Ben_Jordan

Labels: Franchise Opportunity

So you fancy a franchise eh? You like the sound of the whole ‘in business for yourself, but not by yourself’ thing. You’ve done your research and you reckon you can see the way ahead. You reckon your future lies under the banner reading ‘Franchise’.

Then you come up against the $64,000 questions…

1) How much will it cost?

2) Can you afford it?

Now if you are at all human you will have done what every prospect on the path to making a purchase of any sort does. You will have pictured what it will be like to own that franchise. Which is perfectly understandable.

BUT

You are also laying yourself open to the biggest mistake that prospective franchisees can possibly make. You see you can be in danger of letting your judgement be affected by a fatal affliction that is the cause of huge misery in many walks of life, but especially in Franchising. That affliction is

OVEROPTIMISM

Even the most level-headed individual is prone to it from time to time. Most of the time you get away with it, but in franchising there are several things that make this a hugely dangerous problem. That’s because of the following points:

1) The prospective franchisee (You?) is often not experienced in the world of small business finance, so they are leaning heavily on others to provide that experience. The major supplier is frequently the franchisor. A person or company who has a different agenda to you. They want to grow their business and while they don’t want you to fail they are certainly more willing to risk your future they you might be.

2) You may not be experienced in finance and cannot pull together a cash flow forecast.

3) You may know exactly how much you’ve got to spend and believe that it ‘should be enough’.

4) Your optimistic assumptions are based on doing as well or better than others already in the field.

5) You haven’t factored in what you really need to live on. What will see you on the short road to bankruptcy is a failure to recognise that these problems have to be acknowledged and dealt with. Optimism will mask these unpalatable facts sometimes until it is too late.

So to avoid disaster:

1) Create several cash flow scenarios. Yes, be optimistic, but also be neutral and pessimistic too. Then look at the pessimistic forecast. Now be even more pessimistic. Can you afford to fund the franchise and yourself at that rate of profit?

2) When you think you’ve covered the options take your thoughts along to a friend or somebody who’s opinion you value and who you can trust to give you their real thoughts rather than what you want to hear. Tell them you need to check the reality of the deal.

3) Take your proposition along to a local accountant or book keeper. They will give you their advice for a fixed fee and it needn’t cost the earth. If you are worried about the cost, try to compare the cost with the amount of money you could lose. I suddenly looks a little better doesn’t it.

4) When you are lying in bed in the still of the night ask yourself if you are really sure that the numbers stack up. Are you really certain that you are being realistic rather than optimistic.

5) Take another look at the numbers that the franchisor is giving you as an example. Ask yourself exactly how you are going to replicate the numbers that they are quoting. If they are suggesting that you can make quarter of a million in the first year, ask yourself whether you can really make that money – where are the customers coming from in the real world rather than on paper.

6) Look again at the assumptions you are making and decide what would happen if the assumptions were slightly out? Would it be a disaster or would it be OK.

Finally make sure you do every bit of research you can think of, and get a really good guide to help you create the structure for your investigations. You may want to consider my book – www.realworldfranchising.com it covers all of these items in more depth and a lot more too.

Gareth Williams is an advisor on franchising from the franchise buyers perspective. A past franchise owner he has real experience of franchising 'from the trenches'. He has written what many consider to be the definitive guide to buying a franchise. This is available from http://www.realworldfranchising.com

Article Source: http://EzineArticles.com/?expert=Gareth_Williams

Labels: Franchise Opportunity

That there are differences between men and women should not come as a surprise to anyone. That those differences would be a consideration and even a key method in determining whether or not a person would have greater success in the franchise world seems to be more than shocking it's downright politically incorrect. That is until understanding that the determination is that the franchising world needs more women franchise owners. According to recent studies, and also to age old observances of the many differences in the way men and women think and operate, women tend to have a different style and approach to business thinking that allows them a significant edge in the franchising market.

Women and men are both capable workers in the business world, but studies have shown that women are the gender with a tendency to multi-task several different operations, while at the same time not allowing minor hindrances and details to bog them down and detract from a long term overall picture. The more simple and direct approach of focusing on one task or job until it is accomplished, studies have shown, is a natural approach for the male brain, but the female brain is more naturally adept at processing many different tasks before any one particular job or task has been completed. This type of multiple task approach is the exact type of mindset that a successful small business franchise owner needs in order to get their new business off the ground and making profits.

The different types of franchise opportunities are virtually limitless, and the "shotgun" thought pattern naturally prevalent in the female brain allows women an easier path to initial success in the franchise business world. An encouragement for the many women out there that are looking for a business opportunity but have felt that the small business franchise world is more suited for the corporate male mind. Don't believe either that the only successful female franchises are those that employ only females or provide "womanly" products and services.

While there are a variety of franchises that seem to cater to the operation and sales of a female population such as LittleAngels Children's photography, which is a fast growing franchise that prefers their all female ownership for the simple reason that their main business is photographing children in pre-school groups and nurseries who have shown a preference to women photographers.

Other options also include Rosemary Conley Diet & fitness Clubs. These fitness clubs are all women clubs that allow women the opportunity to enjoy exercise and fitness activities in a much less self conscious environment than a typical bi-gender health club. Rosemary Conley Franchises are the first and only franchises in the UK to offer both health and fitness programs along with diet advice in the same class.

Also looking for women franchisers in the UK is Auntie Anne's Pretzel. This franchise is a basic, simple to understand business plan that provides a great treat whose smell serves as one of it's best advertising components. Auntie Anne's pretzel franchises are typically places in areas with high pedestrian traffic and are a great business to watch flourish quickly.

There are many other franchises that are specifically seeking women owners and investors that may surprise you such as: MatchPoint Professional Consultants, Expense Reduction Analysts Franchise Consultancy Group, and Busby Web Solutions franchise.

If you are a woman seeking a business opportunity, then take a look at the world of franchising, because franchise providers are looking for you.

Learn more about UK franchises and find the best business opportunity for you at Franchise Gator UK.

Article Source: http://EzineArticles.com/?expert=Candice_Clem

Labels: Franchise Opportunity

You're all the things a good entrepreneur should be: driven, disciplined, confident and focused. Business problems that send others running for cover are simply the fuel that feeds your ambition. You prepare and prioritize like a paratrooper and you're as independent and steadfast as a bull taunted by fluttering scarlet silk. If you opt to buy a franchise, prepare for a smackdown.

Buying a franchise requires many of the same characteristics starting a business from scratch demands, but tempered in a way that allows the franchisee to integrate into a network. A successful franchise owner should be a good leader, but one who can listen to and take advice from peers and colleagues - and a franchisor.

Learning the franchise system means going back to school - as the student. Good franchisors must have the patience and tolerance to learn, understand and implement an already established system, leaving little room to do things their own way. Are you prepared to accept the franchisor's way of doing things - whether you like them or not, whether you agree with them or not? Your franchise agreement will require it.

Die-hard entrepreneurs are willing to take risks few people can stomach. But buying a franchise involves much less risk than building a business from the ground up, which is the very thing that attracts many franchisees in the first place. They like the idea of being a part of something that's already established. If this idea excites you, you're franchisee material. If, instead, you hear the faint hiss of your spirit deflating, perhaps you should consider another option.

Be honest: do you work well with others? Are you the kid who just couldn't follow the teacher's directions for your science project because you were convinced you knew a better way? Do you merge with traffic or would you prefer to direct it? Being a successful franchisee will require you to work together with the franchisor as well as other franchisees for optimal results. Some people live for collaboration, some prefer to do things their own way and own the results, good or bad. There's no doubt you'll own the results of your franchise endeavor. But any chance of success requires that you be the type of leader who is willing to follow an established course.

Committing to a business venture is like committing to a relationship. It requires plenty of consideration, honest self-assessment and ownership of your actions and the resulting consequences. Choose well, and you can look forward to many challenging yet blissful years of contentment. Choose poorly, and you're in for a major smackdown.

Lisa Hoffmann is chief copywriter for PRstore, a full-service retail marketing franchise with 41 stores in 18 states. PRstore makes professional marketing accessible to small- to medium-sized businesses by offering affordable marketing solutions and eliminating the pricey retainers often required by traditional marketing agencies. For more information about becoming a part of this dynamic franchise, visit PRstoreFranchise.com.

Article Source: http://EzineArticles.com/?expert=Lisa_Hoffmann

Labels: Franchise Opportunity

Franchising research is a dangerous business for potential Franchisees. The Franchisor can hold all the cards….unless you see the relationship for what it is!

I’ve set out below 4 rules that I go into in more depth in my book. Ignore these at your peril, but take them into account and you and the Franchisor can have discussions with the deck not stacked against you.

1) The Franchisor is wishing to enter into a contract with you that will enable him to grow his business. The relationship that you develop is based around MUTUAL benefit. In the light of this, there is no need to feel that you have to impress the Franchisor or that when you meet with them you are applying for a job.

2) The purchase price of the Franchise should be in proportion to the rewards that are realistically on offer. Don’t forget, every penny spent in the purchase of the Franchise is one less going into the development of the Franchise after purchase.

3) Remind yourself that the person who is taking the biggest risk in this relationship is you. It’s true that the Franchisor wants to grow their Franchise with the right people. However don’t forget that if they don’t sell Franchises they don’t grow their business at all!

4) The Franchisor’s representative is well motivated to sell you a franchise. Remember, if this was a job interview you would be the salesman in the relationship. In fact you are the buyer and the Franchisor is the salesman. Tailor your approach in the light of this.

Don’t forget these rules when interviewing Franchisors.

NOTE YOU are interviewing THEM -- NOT vice versa!

Gareth Williams is an advisor on franchising from the franchise buyers perspective. A past franchise owner he has real experience of franchising 'from the trenches'. He has written what many consider to be the definitive guide to buying a franchise. This is available from http://www.realworldfranchising.com

Article Source: http://EzineArticles.com/?expert=Gareth_Williams

Labels: Franchise Opportunity

Wondering what franchises provide the best business opportunities? The results are in for 2006’s best franchise businesses. Check here to see if your favorite franchise made the list!

International. This company provides graphic design for signs large and small, as well as trade show displays, banners, electrical signs, and graphics for vehicles. The company has a great track record, with over twenty years of experience under its belt and consistently strong sales.

HomeVesters of America, Inc. You’ve probably seen those ads that say “we buy ugly houses!” Meet the company behind the ads: real estate experts who operate in a special niche market—undervalued property. Those who’ve bought into the franchise love the fact that the business provides group rates on vacant property insurance and strong support of its franchise owners through conventions, personal consultations, a detailed website, and more.

Haagen-Dazs Who doesn’t love ice cream? Franchise-owners find this company as hard to resist as its product. They’re a company with strong franchisor support, including a two-week onsite training course at their headquarters in Minneapolis, onsite training until your opening day, site selection assistance, and continued support for your marketing, business planning, and operations.

Jazzercise, Inc. A fitness phenomenon in the eighties, jazzercise is still going strong, and it’s easy to see why—it’s a fun, challenging fitness program that incorporates blood-pumping dance moves, upbeat music, and a solid cardio workout. Today, Jazzercise, Inc. is an international franchisor. It has over 5,000 instructors in over thirty countries, and teaches almost half a million students each year.

Budget Blinds, Inc. Budget Blinds is a company that invests heavily in its advertising—which is good news for the franchisee. The company runs a multi-million-dollar national ad campaign, and has a business model that’s proven to work. Franchisees love this company because of its financial growth, strong support from the franchisor, and its established brand name.

Heaven’s Best Carpet Cleaning 106 franchisees gave their opinion about this franchise—and the results were resoundingly positive. The franchise was consistently rated excellent for great franchisor relationships, strong training and support programs, and a great financial opportunity. It’s also a franchise with a low start-up cost: your total investment for this business is estimated at only between $24,000 and $60,000.

Hair Cuttery This business is a fast-growing, highly profitable chain that works hard to keep its employees satisfied. In fact, it has one of the highest employee retention rates in the industry. It also provides products to sell, site selection, décor advice, and thorough training—the company claims that even people with no salon experience can become successful franchise owners through their training program.

RE/MAX This real estate franchise was voted Inman News’ Innovator of the Year for 2006. It was also voted #8 in survey. It’s been in business for over thirty years, with a strong national ad campaign, a good sales record, and plenty of support for its franchisees.

Business is booming for many American franchise companies nowadays—in all industries. If you’re considering going into business for yourself, a franchise may be just the opportunity you’re looking for—and you can’t go wrong with any one of these successful brands.

FranchiseFetch.com brings you tremendous business opportunities. Buying into a franchise means that you can be your own boss, yet still have the experience and insight of an already successful business behind you. There are many different businesses to choose from on our site along with resourceful information and tips in reference to franchising.

Article Source: http://EzineArticles.com/?expert=Sage_Dean

Labels: Franchise Opportunity

Buying a franchise is often a good way for people to own a business, who might not have as much experience or confidence in running a business. Franchises offers a safer alternative, with less risk & more support than building a business from scratch.

The success of franchises' comes down to the fact you have a proven and working business model, with many other franchisees having already taken the (hopefully successful) step into owning the same franchise.

Benefits of owning a franchise:

- Established brand.

- Established marketing campaigns.

- Cumulative purchasing power.

- Proven successful business model.

- Support, assistance and training.

- Risk avoidance.

Before jumping headfirst into a franchise, you should tread carefully. It is likely you will be sinking a lot of money into non-recoverable costs - for example, franchise fees, legal costs and brand new equipment/store setups.

You should also be weary of new franchises promoting the 'best new thing' - no matter what the flashy brochures say. Be certain to speak to existing franchise holders to see if they are successful, and if not, why not.

With the added support of the franchise, they usually have a vested interest in you succeeding which has helped it to become a very popular way for less experienced people to become self employed. However it shouldn't stop you from going alone. The success of your business is only going to be as good as the franchise operator, if the marketing falls short - it could hit you badly as well.

A lot of people buy into franchises purely as a job, and it doesn't always live up to people's expectations. You should make sure you do the proper research and be realistic about the goals the business can achieve, before you hand over your cash.

Andy is a writer for CanadaBizMart - home to hundreds of business for sale and franchise listings in Canada.

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Labels: Franchise Opportunity

If you are like most franchisors, you continually face the same challenge: how to grow your business in a competitive marketplace. The primary leverage points franchisors have to grow their companies are twofold: add more franchisees to their networks and ensure the ongoing success of those franchisees once they have been added. One key to achieving both is to plan and execute optimal promotions and direct mail campaigns.

In order for a given franchise network's promotions and direct mail campaign to be optimal, the campaign must meet four conditions: 1. must be cost-effective, 2. must accurately communicate the value proposition of the company, 3. must be easy for franchisees to participate in, and 4. must target the right customers and prospects.

With these conditions in mind, here are 5 marketing tips for franchises for designing and executing integrated campaigns:

Tip #1: Standardize your marketing materials:

One of the cornerstones of good branding is the ability to present an integrated brand image - the look-and-feel of your materials, the messaging you use to reach out to prospective customers, and your value proposition - at every point of customer contact. Regardless of which advertising media you leverage or which members of your organization are in daily contact with your customer base, it is important to present a "unified front" in terms of what your organization is all about. This is particularly important for franchise organizations. If you leave it up to individual franchisees to develop marketing and advertising materials, it is highly likely that your customers and prospects will be exposed to conflicting brand images about your organization. This should be avoided at all costs because it can damage the brand you are working so hard to build.

Tip #2: Allow for just the right degree of customization:

Franchisors need to set forth strict guidelines for the use of company-branded promotional materials. Franchisees are faced with a dilemma: they want to promote the company brand, but they also need to communicate to customers the relevant information about their specific locations. As a guideline, about 80% to 90% of each piece of direct mail, poster, door hanger, and promotional good your organization sends to customers should remain consistent from location to location. At the same time, it is important to give franchisees the freedom to add address, store locator and customized coupon or promotion-related information as per their local campaigns. Striking the right balance between standardization and customization is paramount.

Tip #3: Give franchisees the flexibility to place orders online, anytime:

Franchisees are busy running their businesses day-to-day. They need to be able to place orders for corporate-approved promotions and direct mail campaigns on their own terms - even if that means doing so in their pajamas at 10:00 p.m. on a Saturday night over a hot cup of coffee. Franchise networks that implement password-protected, secure online ordering systems benefit from the flexibility that comes from "at-anytime, from-anywhere" style ordering. Online ordering means that franchisors can avoid the hassle of receiving or fulfilling mail and promo goods orders from franchisees. And, franchisees gain the flexibility to place orders anytime they choose - on their own terms.

Tip #4: Allow for targeted mail campaigns by offering only the most relevant list filters:

Franchisees are interested in the day-to-day tactics and strategies of running a cost-effective operation - they are in most cases not marketing experts. On the other hand, franchisees do understand that targeting the prospects that are most likely to respond to their direct mail campaigns makes good financial sense. The trouble is, there are literally thousands of available ways to filter any given mailing list today; income, age, and gender are just the tip of the iceberg. The best way around this dilemma of simplicity-of-ordering vs. offering multiple list filtering options is to set up an ordering system that gives franchisees access to just a handful of the most important list filters (e.g., demographic selects). This allows your franchisees the freedom to select their own list filtering criteria but at the same time does not overwhelm them with hundreds of confusing options.

Tip #5: Set up pre-arranged fulfillment agreements on behalf of your franchisees:

Franchisees often work 12 to 16 hour days building their businesses, especially when they are opening new locations. They know that marketing and advertising are important, but they do not have the time to call vendors, compile mail lists, check drafts, negotiate pricing and place orders - let alone get corporate approvals. The solution: the franchisor can help franchisees by pre-selecting the right goods and mail items and then setting up business agreements with geographically-appropriate vendors to fulfill them. That way, the franchisee just needs to pick up the phone or go online and place the order after choosing from a list of pre-approved items. Thinking through these considerations ahead of time can free up franchisors to focus on growing their business rather than managing the day-to-day selection, approval and fulfillment of promotional items.

Finding intelligent, cost-effective ways to integrate promotions and direct mail campaigns across your franchise network can pay off huge dividends down the road. These dividends include fewer franchisor headaches, higher participation rates among franchisees, a more integrated brand image across all points of customer contact, and more cost-effective, targeted campaigns.

Visit http://www.VentureManagerSolution.com for a free demo video on how to implement an custom online ordering system for your franchise network that features real-time mailing list counts, five-minute order processing and pre-arranged mail and promo goods fulfillment.

Article Source: http://EzineArticles.com/?expert=Gene_Adelson

Labels: Franchise Opportunity