Posts Tagged franchises
Franchise Brokers
People often ask me about franchise brokers. On the surface, the idea of a broker seems simple enough. Brokers put buyers and sellers together so whether a buyer or a seller, brokers would seem to be a very important component in the equation.The fact is, they get paid to put buyers and sellers together. After all, they need to get paid too.
Thus, by the pure nature of that relationship, they typically have a biased opinion. Odds are, they are representing a party that pays them upon procurement of a sale. So, let us look at this from both perspectives, the franchisor and prospective franchisee. For some franchisors – Brokers fill a void as a nice additional franchise sales outlet, but do not make the mistake in thinking that brokers are going to be your only source of sales for your expanding company.
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Franchising – Making The Choice
More and more individuals are taking charge of their health as they learn about the benefits of a regular fitness program. This change is not limited to one demographic group. As we know, aging baby boomers are concerned with staying healthy, physically fit, and living independently. People 55-years and older constitute 25% of the 6.1 million Americans who reported using services of a personal trainer in 2004.
There is also a significant increase in children’s utilization of personal training and fitness regimens as a growing number of parents become aware of the health risks of childhood obesity. In addition, children of all ages and fitness levels seek out the services of a personal trainer to get that extra edge in their particular sport, due to the competitiveness of youth athletics.
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What’s the Cost of Franchising Your Business?
The cost of franchising is often a smaller investment than the cost of establishing even one new outlet. After paying the cost of the franchise program, the remaining costs of expansion (as well as most of the risk) are assumed by franchisees. And since franchisees usually pay the franchisor an up-front fee and royalties, the right strategy for selling your franchise idea can become an immediate high-impact low-risk revenue source.
The fixed and variable expenses involved in running a franchise company are much lower than operating a similar number of company-owned facilities.
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Identifying the Right Franchise For Sale
If you are tired of your thankless, boring job, want to get out of the rut and dream of leading a swanky lifestyle, then running a franchise under a profitable and reputed franchisor could be the right, and the easiest, option for you. And many business entrepreneurs are doing it too, since surveys show that more than 40% of business around the world is franchise run. However, while some franchises can become huge successes, others bomb big time. So, how do you make out which franchise for sale , is the right one for you?
Niche: As you know, businesses all over the world are competing fiercely with each other for a bigger piece of customer pie. That being the case, you need to choose a business that can stand up to the competition offered by rivals. A product that runs on its own steam can save advertisement costs and bring in customers automatically.
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Franchise Advantages
Less money is needed to advertise a startup if it has a well-known image and is well thought of by the public. The standard sign will bring the traffic into the business. This is a huge advantage over opening a business with no preconceived feelings for it. A good location with lots of traffic will help to make any known franchise do well since the buying public knows what the company is about and what they offer.
The franchise game plan
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