Have you always wanted to own your own business? Have you felt overwhelmed by the prospect of drawing up a business plan, convincing banks you have a sound idea, figuring out what advertising approaches you can afford to use? Then perhaps owning a franchise would be for you. There are many advantages to owning a franchise vs. starting your own business. These include:
Product Name Recognition: Building a brand name reputation requires a substantial financial investment, in addition to a considerable investment of time. Buying a franchise insures your product already comes with this very valuable resource.
Lowered Risk: Investing your money into an already established business greatly lessens the risk of failure when compared to starting a business from the ground floor.
Training and Support: While you will need to bring some general business knowledge to the table, the franchiser will supply all the training needed to get you started on the path to business ownership. Support is ongoing for management usually for the life of the business.
Advertising: This is probably one of the biggest benefits of owning a franchise the ability to take part in affordable national advertising. Having an entire marketing team working on promoting your business products or services is a valuable resource.
Financing: Some franchisers will assist you in gaining financing, or in some cases, they will actually be the financiers. Even if neither of these scenarios is true for the franchise you are considering, it will be much easier to approach a bank for a loan for what is, in essence, an already established business.
Site Selection and Design: Often the franchiser will help you with the process of selecting a site for your new business along with the design and construction.
Now that you know the advantages of franchise ownership, it is time to look into the different types and find the best franchise for you.
According to Entrepreneur.com’s 2008 Franchise 500, seven out of the top ten franchises are in the fast food industry. Considering the increasingly busy schedule of most Americans, that trend is not likely to diminish in the near future. The number one franchise of 2008 is 7 Eleven another indication of the convenience factor for the buying public being important. The fastest growing types of franchises include tax preparation services and janitorial services. If a home-based franchise is what you are looking for, the top ten include carpet and upholstery cleaning, mobile tool sales, and teaching aerobic classes.
Franchising trade shows are a great way to learn about many different types of franchise opportunities all under one roof. Another option to consider is finding someone that is interested in selling his or her franchise. In most cases, this option involves less cash outlay than setting up a brand new location.
Edward Dean is an accomplished website developer and author. To learn more about Which Franchise is Best [http://womenbusiness.housecleaningfranchising.com/which-franchise-is-best-for-you] visit House Cleaning Franchising [http://housecleaningfranchising.com] for current articles and discussions.
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