Posts Tagged franchising
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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Hottest Franchising Tips
First off, consider your own financial situation. Are your bills all paid, do you have enough liquid assets, and are you free of debt? If the answer to the preceding questions is yes, then you are ready to proceed. Ultimately, financing a franchise boils down to cash flow; do you have enough to fund the franchising without outside help? If you’re wondering how to finance a franchise, if you do not have the money upfront, know that there are a number of options available to you.
Potential franchise owners wishing to work from home are in luck! While starting your own home based franchise business does require an investment, like any other franchise, the investment is much smaller. Franchisors have realized that virtually any business can be successfully run from a home office, and are offering franchisees the opportunity to own their own home based franchise business in numerous categories. Whether you want to be involved in financial services, entertainment, pet care, commercial cleaning, children’s services, or home improvement, you’re sure to find a company offering a franchise opportunity.
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I Want to Franchise My Small Business – What Do I Do Next?
Many small business entrepreneurs build a local business and do such a wonderful job that they have people lining up at their doors, literally. Many of the customers are quite happy to give them that unit of trade we call a dollar for their goods and services. Then one day someone who knows something about business, or maybe not too much, states;
“Boy, you have a great little business here, you should Franchise This!”
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