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About Franchise ::projectbuysell.com

ADVANTAGES OF BUYING EXISTING BUSINESS:

Savings on Effrots Savings on Time saving of Energy
Getting existing Customer Base Getting Existing Goodwill No Gestation Period
Return on investment Immediate Immediate Availability of Business Set up Immediate Business Promotion
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BDP Consultants
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What is franchising?

Franchising offers an excellent opportunity for you to be in business for yourself.
When you hear the word "Franchising" you probably think of Bata, McDonald's or Gold's gym. But the truth is Franchising is so much wider than that.
There are Franchises available in almost every business area that you can think of in all price ranges. In addition, because franchising has such a low failure rate your chances of success are extremely good.

Compared to starting your own business from scratch, franchising can provide a relatively safer route into self-employment. The franchisor has done it all many times before and can therefore help you to eliminate all the mistakes you most probably would make if you tried to do it all by yourself.

Franchising can offer a successful business concept, proven marketing and operational methods, ongoing support and an established identity.

A successful franchise relationship is like a partnership. It combines your talents with the experience and knowledge of the franchisor. With franchising, you are in business for yourself not by yourself

Franchisors not only have sound training programs, but also knowledge of financial requirements, marketing, competition & buying contracts - knowledge that might take you years to collect on your own.

Why do companies franchise?
For a company with a product or service to sell, franchising provides an excellent opportunity for rapid expansion without an enormous outlay of capital. It is a distribution system that allows a business to conserve capital, and at the same time achieve fast market penetration making it a very attractive proposition to most business owners. One of the greatest advantages to them is that they get 100% commitment from their franchisees who have a stake in the business rather than staff or managers who simply work for a salary and may be less motivated.

Why should I consider franchising?
There are many individuals who like yourself, want to be their own boss. They see no long range security in working for someone else, and feel that their potential income will always be limited as an employee. Franchising offers these individuals an opportunity to break free & own their own business whilst at the same time minimizing the risk that is inherent in opening an entirely new business from scratch. Franchising allows you to follow a tried and tested business system, which will greatly improve your chances of success, as the statistics prove.
 
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What are the benefits?

Franchising has proved to be the most successful way of starting a new business
There are franchising opportunities in almost every area of business ranging from one-man operations to large multinational enterprises employing thousands of people. Franchising has a success rate in excess of 90%. This means there are obvious advantages to franchising over starting up on your own.

Not only are you more likely to succeed, but also you have the freedoms of self-employment as well. And when you need help, guidance is always at hand not only from the franchisor but from the Franchised Business also.

What should I look for in a franchised Business?
When you take up a franchised business you are entering in to a long-term partnership with the franchisor. It is therefore vitally important to check the background & business performance of your prospective partner.

The keys to a successful franchise relationship are:
¬ Does the product or service interest you and fire you with enthusiasm?
¬ Does the company have name awareness?
¬ Does it have a successful operation and marketing system?
¬ Is it a viable proposition?
¬ Do you understand the role you will play?

Am I a suitable candidate for franchising?
It is important to assess your suitability to becoming a franchisee prior to making any decision regarding purchasing a franchise. Candidates should consider that franchisee failure is never reported in the media and is often the cause of their own downfall. The franchise system is by no means a guarantee for your success.
The characteristics for failure generally include the following:

¬ The franchisee was in business for himself in a similar type of business
¬ Complacency
¬ Not following the system
¬ Interference by family and friends
¬ Loss of nerve
¬ Expecting too much from the franchisor

The failure rate for new business within a five years period is approximately 90 percent, whilst a franchise is less than 10 percent. This demonstrates that franchising is indeed safer than starting your own business, but the potential franchise must understand that they are in fact going into business on their own.
 
services to buyer & seller Please answer these questions and make sure you are honest and thorough in your judgment to the correct answers to the questions.
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 What am I looking for in the new business and can I achieve it?
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 Do I understand what franchising is and what is involved?
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 Am I qualified physically and temperamentally to be self employed?
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 Am I at the right age to run my own business and recoup my investment?
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 Am I able to employ and direct my staff?
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 Do I have sufficient financial resources to start the business and fund it in the initial stages?
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 Am I able to raise the sufficient funds to purchase the franchise?
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 Do I have the confidence and nerve to survive any setbacks?
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 What skills will I be taking to the business?
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 Am I at my best with mental and physical tasks?
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 Do I mix well with people?
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 Do I have the commitment for hard work?
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 Am I prepared for long and unsociable hours?
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 How will my family react to my decision and the interruption to family time?
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 Will they support me mentally and physically?
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 Am I prepared to risk all my assets?
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 Will I and the family stand the stress which will follow?
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 Will the business be challenging enough in the long term?
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 Am I able to capitalize on the opportunity?
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 What do I hope to achieve from my business and the future?
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