Category Archives: Franchise Brokers

Franchise Trends: Know How to Maximize Success

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Unlike having your own business, choosing to purchase an existing business franchise provides entrepreneurs a strong foundation to start their careers. If you are thinking of choosing this option, you have to have an idea on the franchise trends for your franchise to become successful.

1. Milennials

According to Franchising.com, the millennials are outdoing the Baby Boomers to become prominent players of consumerism. As millenials begin to join the workforce and build their own families, it has become necessary for franchise operators and independent business owners to target this group. Learning more about this market’s growing demands and needs can provide you a head start when you purchase a franchise for sale.

2. Baby Boomers

Baby Boomers may be nearing retirement now however according to Franchising.com this group can still be targeted in a new way. An aging generation, new demands and needs are starting to grow such as healthcare franchises. These franchises are becoming even more popular as the group starts looking for additional support and assistance. If you’re in need of a market keep the Baby Boomers in mind.

3. Multi-tier Models

One of the methods you can do to make your franchise business successful is by making use of multi-tier models according to Fox Business. This means that you do not only operate a storefront but also make use of the mobile and internet world to expand your market and maximize your profits. With this method, prospective franchisees are now able to welcome the opportunity to gain more profit through several means.

4. Veteran entrepreneurs

For the returning veterans who are in search of business opportunities, a career in entrepreneurship is the ideal choice to have as reported by the SmallBizTrends.com. The increasing number of soldiers returning home left many individuals looking for employment after serving in the military. To help these people, VetFran organization introduces veterans to promising franchise opportunities. If you are able to meet the qualifications and are interested in owning a small business, then you will find plenty of help available. Over 2,000 veterans have already benefited from the program.

Whether you want to run your own business franchise sooner or later in life, being attentive to the franchise trends now and then can increase your chances of having a successful business. Being equipped with enough knowledge on the various changes in the franchising industry can provide you the edge among your competitors in the market.

Athletes Build Financial Future through Restaurant Franchises

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Last month, the Orlando Magic has let go of Quentin Richardson.  However, even if he doesn’t get an offer from another team, he can still keep busy with his other career being the owner of a restaurant.

Before his team waived him, Richardson was able to sign a deal with East Coast Wings & Grill of North Carolina to operate restaurants within the area of Orlando.  He plans to open his first restaurant next year and nine more within the next 7-year period.

Richardson is among the athletes who chose to buy a business franchise to multiply incomes and plan their future after sports.

This year, Milwaukee Bucks player Drew Gooden who used to play for Magic opened his own Wingstop in the Uptown Altamonte area.  Last month, Peyton Manning, quarterback from Denver Broncos signed to buy a business franchise of 21 Papa John’s.  Shaquille O’Neal, former Magic star owns several pretzel shops of Auntie Anne’s through its investor group.  Tennis ace Venus Williams has also opened outlets of Jamba Juice.

A number of individuals like Dan Marino of Miami Dolphins have been involved in restaurant business for years however the trend in franchising has only picked up pace recently.

According to International Franchise Association, there have been 50 agreements sealed during the past couple of years between franchise companies and sports stars.  Senior director of IFA on diversity and education, Miriam Brewer stated that venturing into franchise business can be one brilliant move for athletes on the lookout on how to increase income.

A member of an organization that helps educate athletes about franchises, Brewer stated that athletes may face some financial hardship or bankruptcy after retirement.

Richardson stated that he started researching about franchising and franchises for sale several months ago after his financial adviser suggested it.  He stated that at that time he needed to figure out ways on how to manage his finances when he retires.

With a guaranteed contract of $5.4 million with Magic in the next couple of years, Richardson stated that he would be involved with a number of business decisions like location choices but the day-to-day restaurant operation will be handled by his business partners.

Former Magic member Drew Gooden has restaurant veteran George Taylor as partner.  Taylor has held managerial positions in Applebee’s, the former Mojo Bar & Grill, and Chili’s.  Currently he holds the director of operations position at the Altamonte Spring Wingstop Store and the future restaurants that Gooden will own in the Central Florida area.

Evaluating Different Franchise Opportunities

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The most efficient way for any individual to make money would be to leverage his efforts through other people. Operating a business is an excellent way to generate hefty streams of income, as such entities efficiently utilize the law of leverage.

But considering how difficult the task of building any commercial enterprise to compete with other businesses is, franchise opportunities may perhaps be the only way for any businessman to last in any overly competitive environment.

Despite the sizeable advantage these franchised businesses can offer its owners, the process of selecting one can be quite daunting. To ensure a suitable match is found, the first step a future franchisee needs to take is to evaluate his own personal preferences.

The success of a business is largely dependent on its owner’s passion for the trade it engages – people obsessed over vehicles are likely to thrive within the automobile industry, while folks naturally inclined towards helping other individuals would be better off running healthcare franchises.

Another factor to contemplate over is the lifestyle change operating such a franchise will render, as some commercial establishments will require the owner’s presence more than others, while others may be more laidback.

Return on interest is definitely something that an individual should look into – a business that can make money in consistently large amounts would obviously be preferred over one that doesn’t.

After a future franchisee assesses himself, the next step is to carefully evaluate the different franchise opportunities which matches his criteria. Moreover, analyzing the franchisor infrastructure is crucial, as this is usually a massive determining factor for the success of all franchisees.

While assessing the franchisor system, keep in mind that the enormous organization seen today started off as a singular commercial establishment. Choosing to expand operations and generate larger streams of automated income through franchising will require skills beyond that possessed by average entrepreneurs.

Complying with legal requirements, recording operational approaches, creating marketing strategies, developing training systems, plus handling all other aspects of a business is tough, and even harder to teach to hundreds or thousands of others.

Franchise opportunities should have a tested and proven system which can easily be taught to interested franchisees. When adopted, this system will either make money for recruits, or gradually lead them to financial failure. So considering its importance, cautiously gauging their system, as well as verifying how well it works for current franchisees, is absolutely necessary for any anticipative businessman.

Entrepreneurial Moms and Franchising

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A franchise ad can look like this:  Moms looking for a great and enjoyable part-time business?  Here’s one for you.

Nowadays, franchising has become bigger and has entered a number of industry that even automotive franchises are now available.  Compared to independent start-ups, franchising enjoys better success and can allow the needed work schedule flexibility that moms look for.

But is the promised sales pitch in part-time franchising really true or could it be just a marketing trick of franchises for sale like the automotive franchises to attract more potential franchisees?

According to Senior Economist Dr. Ying Lowrey of the US Small Business Administration’s Office of Advocacy, SBA’s recent survey from 1987 to 1995 showed an increase in the number of women in the franchising business from barely 19,000 in 1987 to 72,000 in 1995.

In January of 2006, US Census Bureau reported a growth in the number of franchises owned by woman between the period of 1997 and 2002.

International Franchise Association Women’s Franchise Committe Chair Jackie Adams stated that the growth can be described as explosive.  Adams is an owner/consultant of FranChoice and has revealed that 50% of the placements she had were with women.

Franchise Business Review President and Founder Eric Stites reported that their Franchisee Satisfaction Survey 2006 revealed that 31% of women franchisees were working 40 hours or less each week while 14% were working 30 hours or less.  Eighty-nine percent of the 2000 respondents claimed flexibility in their work.  Seventy-eight percent provided affirmative answer when asked if they would still invest in the same franchise knowing what they know now.

A number of franchises for sale allow owners to work part-time but interested buyers still need to do a research if the part-time work hours advertised are realistic or just a hype.  Buyers can visit the franchise website and contact the existing franchisees to have a clear idea on the part-time work hours.

Franchising may be a better choice for female owners since schedule flexibility and part-time work hours are allowed, however just like any business, devotion and a lot of time is still needed for a business to achieve success.  Some female franchise owners hire managers to supervise the business.  This helps owners spend less work hours but this is also costly since the owners need to shell out money for the managers’ salary.

Not all female-owned franchisees have been successful though.  A number of them have closed down for various reasons such as lack of commitment, family problems, part-time attitude or a combination of several other reasons.  Before saying yes to a franchise, women are advised to talk to several women franchisees to have a clear idea on what to expect.

Holiday Shopping for Franchises

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The new year automatically equates to a promise. It is the best time to re-organize and well, start new things. For entrepreneurs like you, it’s the perfect season to look for franchise opportunities.

Before you exert all energy for all your celebrations and shopping, ensure that you include franchise for sale in your must-have list. It’s practical to start spending on an investment. Remember, a successful business venture enables you to have an opportunity to have bigger shopping funds next year. How fun would your next new year be!

Start to have your own business with a franchise. What’s the advantage of having one? Well, for starters, a franchise for sale already has an established brand. The formula for its service or product offerings have been perfected already. All that you need to do is implement that system. Unlike when you start a new brand, franchises enable you to already have brand awareness and visibility. In short, you won’t start the business from scratch.

So now you know all the advantages, the next question would be how to select the best ones.

The first thing you should consider is your passion and interest. No matter how winning or successful a brand franchise is, it won’t work if you are not even into it. The rule of thumb is to choose a franchise that you love, and will love. Simply put, go for ones that you are deeply passionate about.

Another thing to look for in all franchise opportunities  you are considering is the requirement of the business. Do you want one that has set hours like the typical 9 t0 5 job? Or do you prefer working on particular timeframes? This also boils comes up when you’re considering the franchise to be a full time venture. If it’s for part-time purposes, different considerations would apply.

Also, you should know the direction you want to take. There are franchises that wouldn’t require you to have employees. Others though have a different setup. Take a look at where you are most comfortable.

How much you are willing to invest both in time and money is a major consideration. Your investment threshold already dictates and limites franchise choices. Consider though that different franchises have varying timeframes for ROI even if they have varying levels of investments required. You might want to go for ones with smaller investments so you wouldn’t have too much risk even if it takes longer to get profits. While it’s enticing to look at the possibility of getting bigger profits, examine also if there are more risks and bigger investments involved.

In the event that you feel trapped with the choices, do a comparative analysis. You can always rely on franchisegator.com to give you good insights. Our range of available franchises would surely give you a few ones that could spart your interest. Cross-check your considerations before making a decision. It would surely enable you to have a clearer understanding of your franchise venture. Only then can you make a decision that will leave you that assured and rewarding feeling.

Is Franchisee Training Important Before Buying a Franchise?

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Business franchising has a simple concept; someone is skilled in running a particular business compared to you and their experiences and connections will be of advantage to you if you venture with them.  Therefore rather than doing it on your own, you can hasten the process through franchise opportunities and just pay someone to get you started.

Franchising might sound simple, so how will you decide which among the franchises for sale to buy?  There are many articles available about the essential franchising criteria and how to carefully analyze thousands of franchise opportunities.  Though to make things easier, you can simply employ a qualified franchise consultant.

This article will discuss franchise training, a significant factor you may want to take into account when you have figured out which business franchise to choose.

Is franchisee training important for the new franchise area or location to succeed?  If it means receiving the franchisor’s calculated knowledge for you to use in your franchise, then franchisee training may be one significant factor to consider when making a decision as to which business franchises for sale to purchase.  If the franchise you bought is of superb quality however the training is substandard would it not affect the outcome?  When deciding to purchase a franchise, there are several important factors to consider but franchisee training also counts thus should also be given utmost importance.

How will you know if a certain franchisor has a quality training program in franchising?  A franchisor will definitely not let you attend franchise training before you sign the franchise agreement because the secret techniques are revealed during the training.  But even if you do not join the training there are ways to find out if the franchisor offers a good training system.

  • Perform a background check on trainers; find out if they have experience in presenting or teaching and have industry knowledge.
  • Inquire on the techniques utilized during the training such as the use of hard copy material, PowerPoint, classroom, role play, and on the job practice.  Or if they apply creative methods to relay the knowledge and incorporate tests such as team building activities, quizzes, and trivia games.
  • For complicated businesses, ask if training will be divided into corporate experience to acquire the know-how and the real-world setting where you can apply the skills once you start your business?
  • Talk to other franchisees when you get the chance and ask them how confident they felt when they finished their initial training on franchising.
  • Ask the franchisor; talk with the franchise principals and inquire about the training philosophy that they are applying.

When you make a decision on which franchise to choose never forget to inquire about the training program.  This may be the most significant question that you will ask.

Franchise Opportunities: Protecting The Business’s Trade Secrets

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When it comes to running businesses within certain industries, the environment can quickly move from hard to real tough upon the arrival of other commercial establishments. While looking at the various franchise opportunities, and selecting a particular franchise for sale a businessman should try to buy a franchise in something they know really well. A person can surely gain a strategic advantage over rivals by knowing about a franchise’s trade secrets.

A trade secret is generally defined as any type of information that gives the owner the “upper hand” over its competitors. Moreover, the info is unknown by everyone else, and isn’t easily ascertainable by other groups or individuals. For clearer understanding, a great example of a trade secret would be the formula used in the creation of Coca Cola products – nobody except the giant corporation knows the formulation of these beverages, and it gives them a significant advantage over their rivals.

However, if the secret recipe were to be disclosed to other groups, they could just as easily reproduce Coca Cola beverages and sell it to the target market. In addition to this, getting a patent on the formula would be out of the question, since the information a patent protects must become public knowledge after a patent expires in twenty years.

So before buying any franchise for sale, it’s best to closely examine the measures taken by franchisors of various franchise opportunities to protect their trade secrets.

With that said, before sealing the deal with any franchisor, see to it that the trade secrets are itemized in the franchise agreement. This may include things such as recipes, formulas, programs, techniques, processes, etc.

The agreement should also state that the items classified as trade secrets are being licensed to the franchisee, instead of being sold. Additionally, for the security of all franchisees, the agreement should state that the franchise owner is prohibited from “reverse engineering” all items categorized as a trade secret.

Having the contract include arguments which stress the importance of keeping the secrecy of trade secrets would definitely be helpful. It should also include statements, which reflect the significant value of every trade secret, and how it provides every franchisee with a competitive advantage over competitors in the industry.

The inclusion of statements similar to the ones above in the franchise agreement can help safeguard the franchise’s trade secrets. There are of course, additional details that should be stated within the contracts when screening potential franchise opportunities and ultimately acquiring a franchise for sale.

Pointers For Selling A Franchise

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Making that decision to buy a business or franchise, run it in the most cost-effective yet efficient way possible, and risk failure to make money can be daunting. For plenty of people, their bravery and entrepreneurial plus financial skills was rewarded with financial success, while others weren’t so lucky because they came into the business ill-prepared.

There’ll eventually come that point in time where a person will have to sell the business. Unfortunately, many franchisees go through the selling process unprepared, which can lead to massive amounts of frustration, and even getting significantly less payment for what the franchise is really worth.

To avoid any further headaches and getting ripped-off by buyers, below are a few tips to keep in mind when undergoing the process of selling a franchise.

First tip is to keep the franchisor informed – the guys at corporate office may have a few rules or more regarding the sale of their franchises. These regulations are usually stated in the contract signed during the initial purchase of the franchise itself, so going over a copy of the agreement to review these stipulations is highly advisable.

Moreover, it’s possible that the franchisor knows potential buyers, that want to buy a business that can make money in vast and consistent amounts (hopefully, this describes the reader’s venture.) If this is the case, the process of selling should be easy.

Second tip is to make the actual preparations for the sale – this involves establishing the true value of the business, setting a price that’s fair for both parties, pooling financial information, putting together a sales packet, plus more. Additionally, notifying key employees of the business may also be necessary.

Third tip is to identify and thoroughly understand the potential market – things such as what type of individual would actually be interested in buying such a franchise, how much were similar businesses sold in the past and whether the target market is momentarily hot or cold should be thought over. In addition to this, knowing what they expect from such an operation can further help with preparations for the sale.

Fourth and last tip is to advertise the franchise in every way possible. The more exposure it gets, the better. This may include listings in newspapers, the internet, social circles, and more. Also, making a good sales pitch is imperative – if the buyers don’t see the financial logic in deciding to buy a business or franchise such as the one pitched to them, or if the venture has no potential to make money then they’re likely to back-off.

Mistakes Committed By Home-based Business Owners

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There are various franchise opportunities people can purchase to make money from the very comforts of their home. Aside from the fact that significantly lower start-up capital will be needed to get the business up and running, there are numerous benefits that come with the entire home-based trade as well.

One benefit enjoyed by these types of entrepreneurs is the exclusion of the need to rent a space to serve as an office, which in turn largely reduces monthly operating expenses. Also, time and money spent for commuting or gas can be saved as well.

The franchisee will also be able to manage his time better, gain greater income potential, and enjoy tax benefits as well.

However, despite all these advantages, there are several potential disadvantages that can arise in the event an entrepreneur fails to recognize and avoid them. Failure to eliminate any of the risks stated below will unquestionably affect the businessman’s ability to make money, and even lead to financial failure.

Here’s the first on the list: blurring the line that separates business and personal life. Despite the fact that some franchise opportunities allow franchisees to be close to their families, the benefit can sometimes be a major disadvantage when things get a little too close for comfort.

Family members, such as a bickering wife, curious kids, or annoying siblings can easily serve as distractions from working efficiently. In scenarios like these, the entrepreneur’s time spent for his business is greatly affected, therefore, negatively impacting his revenue and overall business growth.

Another mistake is not charging enough for certain products or services – home-based business owners sometimes like selling their merchandise or services for considerably lower prices, since they feel they’re saving a lot more on rent, gas, and other operating expenses.

If the real value of a certain good is “x”, then the franchisee should sell it for “x”, or even for a little less than “x”. Going beyond that would be unreasonable, and dangerous to a business’ income streams.

Failing to create a website is another mistake many franchisees of home-based franchise opportunities commit. Since they’re based in residential areas, it’ll be harder for them to get exposure to the target market as compared to businesses setup in commercial zones.

By creating a website, the entrepreneur will be able to show his target market what he has to offer, as well as the benefits of buying from him. Also, making transactions through the internet will serve to make the business run more efficiently. This will also allow the businessman or woman to consistently make money in larger amounts.

Reasons For Becoming A Franchise Owner Today

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What are the reasons for an individual to acquire a franchise for sale today? Well aside from the advantage of becoming the big boss of a well-known business establishment, and having a set of employees who obey every command given, franchises are booming and are more inclined towards success as compared to companies built from scratch.

All types of franchises (such as those centered on retailing businesses) are predicted to substantially grow in the years to come, according to findings based on statistical studies conducted by the International Franchise Association’s (IFA’s) Business Economic Outlook.

The IFA Economic Outlook report made last 2011 contained some interesting bits of statistical data that’d easily serve as motivation for individuals to start saving up to purchase a franchise for sale. One attention-grabbing bit of info that’ll keep anybody enthusiastic about making that leap towards becoming a franchisee is an increase in economic output, with the gross value of merchandise and services a business produces predicted to increase for franchise business format lines.

Franchises engaging industries concentrating on automotive, personal services and commercial services are expected to reap the largest percentage increase in output.

Another good thing about owning a franchise is the fact that franchisees help create jobs for people. Hiring employees to work in retailing businesses, weight loss establishments, or whatever form of trade will allow more people to become better providers for themselves and family members.

In addition to the facts above, job creation is an excellent method used by economists and political leaders to strengthen the economy, making things better for everyone else as well. So yes – franchisees actually help fortify the economy, and even help improve the living conditions of all people living within the country.

Lastly, the number of franchises which can be purchased is also growing, making this type of business more acquirable for those who want to finally live the sweet life of being a successful entrepreneur. Many of the franchisors of certain industries (such as those which focus on lodging, automotive and retailing businesses) are predicted to recruit a lot more franchisees this year.

Purchasing a franchise for sale is one of the best ways for any person to become his own boss and make good money by following a structured business model that has been proven to be successful. Regardless of experience in business, franchisors are more than capable of providing ample training and assistance to newbies whenever problems arise.