Check out to see how much of your potential profit will be paid upfront and over the long term to the franchise. Is the cost worth the benefits?
A good network marketing opportunity can provide the same training as a franchise for a very small cost if you have someone who will go to work with you. But it is as difficult to find that person and company as it is to find a good franchise.
In either case you have to do the same amount of due diligence. There is no such thing as instant wealth. No one can make you succeed, but some (very few) can help you succeed.
You need to ask yourself a few questions before going into a franchise business. Does the prospective franchiser have a good background and reputation? Has the franchise operated successfully within several different locations for at least 3-5 years? Are there any complaints or litigation's against it? Is there a solid business model that is both doable and potentially profitable? Both the Federal Trade Commission and the Better Business Bureau have information on various franchises for prospective franchisees needing to conduct background research, so make sure you do your homework first.
Is there a solid business model that is both doable and potentially profitable?
This is one of the biggest questions, as well as biggest perks to buying into a franchise-type business. You have a business model that has been proven successful time and time again. You aren't stuck starting from scratch with no idea what you're doing and no one to turn to. You have the peace of mind of knowing that there are others out there doing exactly what you are.
There are also businesses out there, like mine, who offer our model for only an initial investment cost. There are no residual commissions to pay back to the mother company after you get started. If you're concerned about that loss of profit, make sure you look for a business that doesn't require it.
---Debra M. Cohen
Home Remedies of NY®, Inc.
"Dependable, Skilled, Professionals for any Household Task"
Email: HomRemdies@aol.com or firstname.lastname@example.org
You need to consider important things first! And then if you are really ready well good luck now!
Buying a franchise allows you to start a new business advantages. Your potential customers have probably already heard the name brand or store name if you win the instant market recognition. You are eligible for the exemption of other good customer service in other areas as well as the benefits of advertising buying group. In addition, the franchise of the information you give marketing advice, business services and training to start. Training and ongoing support during the development of new franchise business can be very valuable. Buying a franchise is no guarantee of success, although the risk of failure is reduced by the purchase of a franchise. You will still need to work hard to succeed.
"Buying a franchise allows you to start a new business advantages. Your potential customers have probably already heard the name brand or store name if you win the instant market recognition. "
I agree, as if you're buying the name of a very known company! It might be expensive tho the profit it will send to you will be mostly double your investment!