Mar 11

Benefits of a Franchise – Buying a Franchise Versus an Independent Business Start-Up

Franchising Articles No Comments »

The main advantage of buying a franchise is to reduce the risk of failure. When it comes to starting a business, entrepreneurs always seem to compare the purchase of a franchise and independent start-ups. That is a mistake.

A second study cited, and that time is analyzed, the numbers are staggering in favor of franchising. Figures show more than a survival rate of 90% after five years for franchise partners in comparison to the order of 20% for stand-alone –Start-up.

As you can see, compare franchise and independent company, is like comparing apples and oranges. If you are not angry are independent and self-confident entrepreneur and have a unique idea that consumes your life or a great expertise in a particular sector, franchising is still a safe way to go.

The key to the success of the franchise is the support and collaboration of the test system. Business is always on the structure of a system andFranchising offers the most efficient way to provide business systems for everyone (in the area for him) that they themselves want.

If an applicant is in discussion with ten companies in franchising, who feels that repeating a word, franchise, self-employment in business without him. "The award, and franchising in general, there is a kind level of comfort is not available, an independent contractor.

Being independent can offer highof freedom, but can also some of the confusion, guess, to go with the rising costs and a feeling alone against the world.

In the end, I would never stop people from starting to form an independent company. At one point in time, I was faced with the decision and understand that each person their own set of circumstances that came into the game. However, I want someone to hold, simply compare the dealers to start an independent company. Compareddifferent franchises together is another story.

Tagged with: • • • • • •
Mar 10

Sports Industry Franchising

Franchising Articles No Comments »

The industry of sports franchise revenue creates big, has a complex substructure, and is an authority on many peoples living in the media and contributions. To fully understand the environment of the sports franchise, we must try to understand that consists of different functions.

If you decide to buy a sports franchise business, then there are several cases of goods that are accessible through professional equipment, know, interestedmanufacturers and goods retailers, and in addition the names of the different companies involved.

If you want to get a job in the sports franchising industry then you must be aware of what sports development is and the organizations that employ them and the local authorities and charities which govern bodies of various sports.

Another branch of the sports franchising industry is sports apparel. It is a multi-billion dollar industry. In the year 2005 the sports apparel and athletic footwear industries had made a profit which was greater than $55 billion in the US market. The sports apparel and footwear arena are the dynamic-double in the US sports industry.

The joint income of the two industries has never been below the $50 billion dollar mark in the past four years. Sports franchising of apparel and supplies are building a huge demand worldwide. From basketball T-shirts to golfing tees, sports clothes shops are relishing the gains that the interest in sports has played in the past few years, particularly now in the year of the Olympics.

Franchise designers are now trying to catch up with the lucrative sports apparel industry. Sports bars are no more regarded as boring places to go when you are not a sports enthusiast. Owners are now putting in their efforts to make sports bars as exciting as possible. In addition, the sports bar franchises have expanded to the restaurant business as well. Sports Bar Franchising is one of the most profitable companies to be the decade, as food and beverages.

However, sports bars have a new niche in the market because of their duel purpose of food and entertainment. There are many opinions that there are people, be it a game or a great opportunity, while for others it is a means of recreation and personal fitness. Remember, franchising is the mystery more than 21 Century thinking.

Tagged with: • •
Mar 10

Pest Control Franchise – Is there another alternative?

Franchising Articles No Comments »

When someone thinks of a franchise which usually think of pest control, a guy with a spray and an error screen on the side of his truck. Yes, this is a common frame of what appears in the area.

Well, how about a twist to the perception? What happens if the franchise pest control has worked with wildlife instead of insects? Now that would be great idea!

This idea became a reality today. Franchise traditional pest control has always been there, but now there is a greatonly area of non-traditional careers such as management of wildlife.

Instead, you spend your days in bug spray for a living will, a wildlife management professional to spend their days, are actively working with wildlife and solve problems that are created at times.

How can you imagine working with wildlife, you spend your days outside, instead of the gray car, you can now. Imagine how empowering it would be that you feel comfortable and like what you could obtain andThose around you when you actually do something that interests and excites you!

Our world is changing and growing at a rapid pace. As I write I sit and look out the window and saw them more clear land and build another building. The wildlife has nowhere to go and usually end up in a house or a commercial building, if not find the right habitat.

It 'a really interesting process. The customer approves the country, which means cutting down treesand earthmoving. What he lived among the trees will have to find a new tree, and what he has lived in the soil must find a new place to call home. Now that these animals will be moved, find new accommodation. This "new home" will be held either in kind or in a facility for men. If the animal proves to be a conflict with humans, wildlife professionals are called upon to resolve the situation safely.

Working with wild animals is a truly exciting and rewarding way to live your life. It couldYou enter when you have the desire, motivation and, to make it happen. Find out if you qualify by visiting this site any control animals.

Tagged with: • • •
Mar 09

Advanced Secrets to Franchise Success – Learn the critical things you must do

Franchising Articles No Comments »

The ability to franchising right for you can be a very demanding task. The main reason is that it is very important to do a lot of research beforehand. If this is done correctly then everything will run smoothly when it starts.

The most important part is that before deciding on the franchise company for you. For example, you prefer to work from home or are you willing to go to work a business and long working hours. So, for example,love it from the comfort of my home and do not want to sacrifice this for the rest.

What are your abilities as human beings. If you are planning to establish a franchise like McDonalds, you need very good at managing people. Even in a business like you said it would need to there in the early hours of the morning.

Another important part is how much money would you be willing to invest in your company? A franchise such as McDonalds requires a huge investment thatprobably borrowed from the bank. You can take a risk like that?

You also need good research on the field that your shop is now made to be found inside This is mainly because the amount of traffic coming from the room, most likely your sales and profits. identify higher the number of people visiting, which is the area that your business in the higher the probability of turnover. An excess is in any case much less riskyhow to start your own business and can be very rewarding if you are just beginning.

Tagged with: • • • • •
Mar 09

What to do when buying a franchise-style

Franchising Articles No Comments »

If you have always dream of one day your boss then buying a franchise is one of the best ways to make your dreams. Although it is very likely to be more expensive to start their own business from scratch, will break into the ranks of entrepreneurship and the success rates are very high. When you buy a franchise you are investing in a product that has already proven to be successful. In addition, many franchisors know that youTraining, marketing and support throughout, along with other services.

The training will give you a deep knowledge and experience of society and how it works. These are also the operational standards that must be kept shall be notified. Some training programs franchise can not be what you are looking for, keep looking until it is advisable for you to find, because it fits her many choices for you. Also be aware that some of the training programs areat a price and you can be responsible for travel expenses.

Franchisors, particularly in areas such as advertising, marketing, research and development advantage. Use and increased purchasing power. A certain percentage of income will often be necessary to submit a promotion fund. Local advertising and public relations in support of the franchise program is an extension of the national program.

In choosing the franchise thathow to buy, you must consider a number of factors. Among these is the demand for products or services, competition, the franchisor the background, and the level of support you get from the economy. You will get a lot of support from the franchisor, and this will be of great benefit to you in your career, how you want to learn how to run businesses and many other important skills. However, you must be careful because some franchises are the donorshave little experience in management and, as a result of training and support may not be reliable enough to support you.

As mentioned before, buying a franchise is not the cheapest way to start your own business, and that is why it is important that you include all costs that will be required to pay to see before and again and again. The briefing paper shows the costs associated with the concessions the company to start. The initial deposit or franchise –fess will be refunded and whether or not describe them all here for you, along with the cost of initial inventory, signs, equipment, leasing or renting. Be aware that some deals are better than other franchise offers, do not rush and take your time to explore the potential franchise, you could buy them too.

When buying a franchise, you gain financial independence and to ensure a stable financial future, but you must remember that it is not so easyas it seems. It can be expensive, even if the risk of losses by buying into a company that has already reduced a success. One advantage of buying a franchise over starting a business from scratch is nothing new, that much of the work has been done for you. However, there are no shortcuts, and much work and effort is still required from you during your career.

So if you are still interested in buying a franchise, to take part in the proceedings and ensure that all research aside,Options carefully before jumping in cold water, as it could end up very expensive for you.

Tagged with: •
Mar 09

Franchising – The Upside and The Down-Low

Franchising Articles No Comments »

There are thousands of franchises operating in America today, and that number is on the rise. Reduced start-up costs, established name recognition and branding, training, and ongoing support are significant advantages. But that doesn’t mean that owning a franchise is lunch at Le Cirque. Let’s take a look at franchising from the upside – and the down-low.

Improved Chance of Success

The Upside

Security is a big draw, especially in an uncertain economy. According to the Small Business Administration, although 30 percent of all independent businesses fail in their first year, almost 100 percent of franchises stay in business. And, while the vast majority of businesses fail within five years, 80 percent of all franchise operations successfully reach the five-year benchmark.

The Down-low

Be careful here. Just because you’re not starting from the ground up doesn’t mean you won’t be working long days and long weeks, managing difficult people and continuously putting out fires. Whether you opt into a pizza shop, a drycleaners, a hardware store or a childcare center, it will tap into – and sometimes sap – your energy and financial resources. This is no surprise in the entrepreneurial stratosphere, but it’s easy to minimize the risk in your mind when you’re joining an established franchise.

Emotional Draw

The Upside

You’ve had it with the work-a-day grind and you’re ready to step out and start doing things your way. Sure, it’ll be hard but you’re ready to be accountable for your mistakes -and to benefit from your successes, instead of filling someone else’s pockets. Besides, you’re an avid tennis player and you’re buying into a sporting goods franchise. What could be better than spending your days surrounded by the things you love, and helping like-minded people fix their backswing?

The Down-low

There is no doubt that passion and entrepreneurial spirit play a significant role in the success of any business. But if your top two reasons for becoming a franchisee are freedom from the 9-5 daily grind and that you love golf, pause and take a breath.

Franchising is a business like any other and will require stamina and determination. Sure, you’re selling products you love and that passion will help you build customer relationships, but you’re buying the franchise to make money. And making money is about more than believing in your product line.

Among other things, you will oversee:

Day-to-day operations
Sales
Management/supervision
Marketing and public relations
Dispute resolution
Recruitment and candidate assessment

And you probably won’t have much time to play tennis, at least for a while.

Franchisor Support

The Upside

Franchises provide structure and support. In fact, your franchise agreement will require that you follow certain rules and guidelines. The training, advertising, assistance with location selection, and ongoing guidance franchisors provide are incredibly valuable. Even people with little business experience can leverage the franchisor’s expertise for success.

The Down-low

For some people, conforming to the franchise structure is difficult. Die-hard entrepreneurs may come to resent franchise parameters over time. And with the benefit of franchise marketing and advertising come the danger of bad publicity. If any other part of the franchise system generates negative publicity, you will be affected by it too.

Most would-be franchise entrepreneurs possess super-human drive. Just don’t let that same determination blind you to the realities. Consider the down-low of every facet of businesses ownership. A sound decision is the ultimate upside.

Tagged with: • •
Mar 09

What’s Safer – Buying a Franchise or Starting Your Own Business?

Franchising Articles No Comments »

Have you always wanted to own and operate your own business? Given that there’s a high failure rate for independent, non-franchise businesses, you might want to consider buying a franchise instead. After all, franchising provides a proven system coupled with the support of a larger organization – invaluable pluses for first-time and therefore inexperienced business owners.

A few key advantages singular to buying a franchise include instant brand awareness and credibility, administrative and/or technical support, quicker return on investment, strong management, franchisor-provided training, and a franchisee network devoted to supporting fellow franchisees.

Franchisees are generally supported every step of the way from a variety of people vested in their success. For example, fellow franchisees often compliment their comrades’ marketing programs – multiple franchisees tend to benefit from a single fellow franchisee’s promotional event or commercial, and an independent business owner’s interest can help franchisees open additional outlets.

Without the support of an established marketing team and resources, independent business owners have to compete with the brand-recognition and advertising weight wielded by franchises. It may be difficult, as an independent business owner, to get your name out there, let alone establish yourself. You may have to put all your energy into operations and be forced to neglect other aspects of running your business.

For example, you will be trying to figure out the basics, such as who will drive your sales campaign and bring in customers. Sure, there’s more creative autonomy involved in owning an independent business rather than a franchise, but is this worth the risk of possibly being unable to make it in cut-throat but lucrative markets such as the food service, hospitality and/or retail industries? That’s up to you to decide.

Tagged with: • • • •
Mar 09

Thinking About Starting Your Own Franchise?

Franchising Articles No Comments »

Franchise businesses are businesses that are modeled after the ideal that the company sets forth. This will give the customer some trust about the quality and consistency that they will receive through name recognition. These types of businesses are growing at a rapid pace, according to the International Franchise Association. About 400,000 such businesses employ nearly 10 million people with a payroll of $230 billion. However, they are often oversold and expensive to enter (perhaps $100,000.00 or more may be required in initial capital and they may have continuing fees which can be excessive). Know fully all the details and hidden costs and restrictions on your freedom of decision-making before you invest in a franchise. 

Franchise businesses are known for being more successful than independently opened businesses. This is mainly because these businesses have already gone through opening and daily processes so they have most likely already worked out the bumps along the way. This type of business is operating in many sectors of the North America and global economy. 

Franchisors will look closely at the number of their businesses that are in any one territory, as too many could damage the overall profitability of their operation. You should also look at all the necessary information to see how close other franchises are to your proposed operation. Franchisors keep the profits of the sales, which makes franchisees feel that their business value has been diminished, and their customer base within their promised territory violated. Franchisors, as the parent companies are known, can own some outlets directly while franchising others; franchisees can own one local store or dozens of branches across a city, but the basic relationship remains the same. 

In conclusion, owning your own franchise can be a great business opportunity for you, but remember that it will cost you several thousand, or even several hundred thousands of dollars to get started. Entrepreneurs and business professionals alike are searching for better ways to live their lives without being trapped in a typical nine-to-five job. That’s why the focus has changed to the home based franchise business. Entrepreneurship is all about taking risks on business opportunities. 

Tagged with: • •
Mar 08

A Franchise – The Path To Ones Financial Dreams?

Franchising Articles No Comments »

Ahhh… I love fast food! No, really, I do. I know its not healthy, but a juicy burger, fries and a cola to me are a real temptation. I am clearly not the only one, because there are fast food franchises on just about every corner in America, if not the world. Even if you are a health food addict, there is a franchise for that too. You name it, furniture, clothing, drug stores, party stores, exercise equipment, shoes, underwear, Halloween costumes, and the list goes on forever.

Often times the general public will get the perception that a franchise is the answer to all their financial dreams. For a rare few this may be the case, but there is significant reason to be leery of this line of thinking.

For starters, I did a little research and found some of the most popular franchises. Go get access to their financial requirements. If this doesn’t make you think twice, there is more revealing data below, of which you should be made aware. Many require assets of over a million dollars, although there are many cheap ones that do not have the name recognition, so one wonders what you are paying for, if there is not a “name” to pull in the customers.

SCORE, a small business counseling agency has an article on their website (http://www.score.org/exploring_franchising.html) quoting the President of the American Franchisee Association, saying “many of her members are unhappy with the franchises they purchased and would have made different choices if they knew then, what they know now”.

That makes many want to consider other options, such as a Legitimate Home Business. Although many found on the internet are scams and get rich quick schemes, there are Legitimate Home Businesses available and many can make a substantial six figure income on an investment of less than $20,000.00. This is appealing considering the down stoke involved in most any franchise that has valid name recognition. One particular Legitimate Home Business had startup costs of less than $2500.00.

Bottom line, be careful. You worked hard for your life savings and if you are going to risk it on the American Dream of Big Bucks in Business, do your homework.

Don’t let the fear of the unknown scare you into doing nothing. Figure out what is right for you and do your due diligence (bookmark this article for later use).

Take Action, and Go Create a Life By Design!

Tagged with: • • • • • • • • • • •
Mar 08

Pros and Cons of Buying A Medical Staffing Franchise

Franchising Articles No Comments »

Why You Should Not Franchise

If you are thinking about franchising your start-up medical staffing agency you first need to look at what exactly is expected of you and what you are actually loosing in purchasing a medical staffing franchise.

Will you own the Medical Staffing Franchise?

No! When you buy into a temporary staffing franchise you are basically buying the rights to use that company’s name, O’h and it will cost you plenty to do so.

How much does it cost to franchise a medical staffing agency?

Between $125,000 to $175,000 and that’s not part of the Franchise fee, the cost to use the companies name will be some where around $25,000. The $25,000 is the Franchise fee, this usually has nothing to do with getting your office, hiring employees, paying employees, your marketing/advertising costs, it is simply the cost the company charges to allow you to use there name.

Does name recognition guarantee success?

No, Franchises tell you that you will have the benefits of established name recognition loyal to the corporation, this is fine and dandy for existing contracts with the franchise, but you will have to develop your own relationships with the clients. A name in the medical staffing industry has little to nothing to do with being able to provide service continuously and effectively. Your reputation and your ability to generate business is what your success is based on.

Does a franchise have tools and methods to grow significantly?

Not really, usually when franchises speak of tools and methods they are referring to manuals they will provide to you on how to market your company. Many Franchises claim to have proprietary technology to bill and track employees. With today’s marketplace you can find these services readily available and willing to work with you cheaply.

Do Franchises have special forms I need to get started?

Although you will need certain forms to get started, you do not need a franchise to provide those forms for you. You are able to access those forms online at modest fees. There are only so many forms you need and as you grow you purchase more forms or contracts, you can then use the proceeds from the company to purchase more forms.

Are Franchises the only ones capable of providing 100% funding for temporary employees?

Absolutely not, all a franchise did was contract with a vendor that offers factoring. Usually the Franchise is not the one who actually is providing the money. You will find that today there are many companies willing to work with you to cover your payroll 100% and do the billing as well as manage your books. Usually there is no fee to cover your invoices; usually a factoring company can deliver the money to you within days. The fees are usually structured within the invoice, in other words you don’t pay anything directly.

Do Franchises have proprietary technology to track employees?

Perhaps they do or perhaps they don’t. Again, online companies offer Internet based employee tracking software. The fees for this service can range between $50 – $300 depending on the size of your company. If you are small, then perhaps $50 a month will cover your initial need for technology to track and manage your work force.

Do franchises allow for growth?

No! you purchase an area to market based on your region. They call this exclusive territory, you may be able to expand to multiple units but it will cost you. Having your own staffing agency you are not limited to territories, regions or expansion costs based on franchise fees. If you ever wanted to grow to another State or City, you may not be able to because some else in the franchise beat you to it.

What are the benefits of the franchise support?

You will find that once you purchase the franchise, the support structure they claim to provide within Human resources, Legal, Marketing etc will be passed down to an answering service that will require you to leave a message. You may be allowed to visit there website and at times they will return the phone call, but you will find that the person on the other end was only trained in the material given to you and has no field experience within the medical staffing industry.

Is it costly to open a franchise beyond the Franchise fee?

Yes it is? Why? Think about it, do you think a franchise wants you to open up shop cheaply? No, your franchise is a marketing tool for them. If you look bad, they will look bad. It is to the best interest of the franchise that you have the best site selection, the best construction and plan assistance, the best furniture and the best grand opening,. You are at the mercy of the contract you signed with the franchise. That is why they want to make sure you have enough capital to pay for your start-up. They have pre-selected vendors that you must work with. Generally you are required to work with there vendors.

Will a franchise help me secure my first contract?

No, they will not physically help you secure your first or second or third contract. They provide you will marketing manuals, and online assistance but the meat and potatoes of marketing/advertising will be 100% you, as it should be. The problem is that you have dished out over $100,000 opening you business without ever securing one account.

Does a franchise offer business insurance, health insurance or any kind or retirement plans?

No! Franchises are not in the business of providing these services, they are in the business of selling and reselling franchises, they are not in the business of providing benefits. They will refer you two a third party vendor. Something you can do on your own using the Internet.

Franchises claim to have many franchises, is this good?

Absolutely not, the more franchises they have the less potential for growth you have.

What do they mean by ongoing support with a Franchise?

It usually means that you can call the toll free number and leave a message or visit there website and type in your question. They will try to get back to you as soon as they can. If the franchise is huge you may have to wait several days before they get back to you. At this point is when an entrepreneur that made the financial commitment to a medical staffing franchise begins to feel abandoned and left out to dry. In many cases this is the truth. “After all, it is you business!”

What do franchises mean by term?

O’h, good question. It means that the franchise is not yours, you agree to run the business for five years and at the end of the five years the franchise may or may not renew your agreement. Generally upon renewing your agreement you will have to pay another franchise fee. The decision to renew the term is solely based on the discretion of the Franchise company… If they decide not to renew the franchise you will loose the business.

What are royalty fees?

Besides paying the Franchise fee and the start-up expense, you are mandated to pay a royalty fee that is generally between 5% to 10% of the Gross revenue of the business. Most people don’t realize how much money this is. Lets me explain, a Medical staffing agency works on a marginal profit margin of between 20% to 25% of the Gross Revenue. If you are required to pay a royalty fee of 10%, and your medical staffing agency is only producing a 20% Gross Profit you will be left with only 10% Gross Profit after paying the franchise royalty fee. But is does not stop there. The 10% is what you will need to use to pay your in-house employees and any future marketing/advertising expense. The profit margin begins to dwindle down to almost nothing. Very, very important that you understand what we are talking about.

Example:

Billing $100,000 per month

Paying Nurses/tech’s $80,000 per month

Franchise Fee $10,000 per month

Gross Margin 10,000 per month

In house employees $4,000 per month

Rent/ Utilities Etc $3,000 per month

Adv/Mark. $1,000 per month

Total $8,000 per month

Net Margin $2,000 per month

Basically for every $100,000 you bill a month, you will only make $2,000 a month. This equals to billing over 1.2 Million dollars a year and you only make $24,000 a years, ouch! Not having a franchise allows you to make over $150,000 a year.

I hope this helps you in your entrepreneur spirit to start your own medical staffing agency. I have been helping many new and existing entrepreneur’s start they’re own medical staffing agency inexpensively for many years and I hope I have helped you.

Tagged with: • • • • • • • • • • • • •
Previous Entries
preload preload preload