Business Franchise

The safest and risk-free way to start up a successful business is through business franchising opportunities. However, running a franchise is not for everyone. You will need some time to be able to fully understand what it entails - especially the selling aspects - before you decide to buy a business franchise opportunity. Business franchise opportunities are increasing internationally. This is because the business franchise opportunities and the franchising model is proven and successful. Here are the important tips for identifying and selecting the best business franchise opportunities.

Choose a franchise business that you will enjoy

The most important factor of all is buying a business franchise opportunity that you will enjoy. You will succeed when you truly enjoy the products and/or services that your business offers, and the customers and markets, then you will learn the skills rapidly. Enjoy the business so you will likely possess a good deal of knowledge about it.

Being an expert and a specialist at what you do is essential to running any business franchise opportunity - enjoyment and expertise naturally go hand-in-hand. If you find pleasure and a joy in what you are doing, you will find it easy to specialize and become an expert in that area. Your enthusiasm will be felt by your customers and everyone you meet. When you enjoy the business franchise opportunity you have, it will inspire and excite you and will naturally try your best not to fail the business.

Are you suited for franchising?

Like any new business venture, you need to carefully consider if you have the right skills and attitude to take a business franchise opportunity.
When taking a business franchise opportunity you must be prepared to sell. A business blueprint is given to you not the customers. Working hard is necessary ad you can spend long hours. Make sure you have the necessary stamina. Running your own franchise can be stressful. You should ask yourself - "How do I react when I am pressured?" You may take a business franchise opportunity because you want to be your own boss. Ask yourself if the time required on this business is okay with you.

Assess the business franchise opportunity

To assess whether a business franchise opportunity is suitable to you consider this things:

• What the business franchise is and how it operates?
• Where to put up the franchise?
• How your competitors doing?
• If the franchisees is stable enough?
• How much training and support you need when starting up?
• Do you agree with conditions and restrictions in the franchise agreement?

The franchisor will provide everything you need but do not rely on this. Search the internet and investigate. Ask other franchisees and banks for franchise experts. Make sure to review the contract before signing anything, get a professional advice if necessary.

Article Source: Beverly Maniago

Labels: business franchise opportunities, how to find business franchise, how to find business franchise opportunities, opportunities

The following franchises are some of the industry's best franchises for car enthusiasts. They are not ranked in any particular order and all serve different aspects of the automotive market. If you are interested in a franchise that deals with cars or the automotive industry then read the following list and you will be well on your way to finding the best franchise for you.

#1 Maaco Collision Repair and Auto Painting Franchise

Car enthusiasts love the Maaco Collision Repair and Auto Painting franchise even though they don't have to be experts to run this business. The Maaco system really takes care of everything. With this franchise you will not worry about being out in the market with no support. There is technical expertise available, market development, and even hands on training. Assistance is offered for real estate purchases and financing, and even crew training and recruitment aren't left for you to take care of on your own. Requirements for investment include $75,000 of liquid capital and a net worth of $300,000.

#2 Mr. Transmission Franchise

Another one of the best business franchises for car enthusiasts is the Mr. Transmission franchise. Investment requirements include a total capital investment of $149,000 - $192,000 with $50,000 of liquid capital required. Third part financing is available and support and training are offered. Mr. Transmission franchises offer outstanding opportunities because they provide brand awareness, technical support, development programs, marketing support, management training and support, and much more.

#3 Interstate Batteries Franchise

Interstate Batteries is a wonderful franchise opportunity, although it does require a bit more investment than some of the other franchises. Interstate Batteries requires an initial investment of $500,000 with $200,000 of liquid capital. Financing assistance is not offered, but training and support are.

You should consider Interstate Batteries if you want a business model that has been successful for more than 50 years. The battery market is expected to grow consistently and the market sells billions of dollars of batteries each year. So, taking advantage of this market with your own Interstate Batteries franchise is a great opportunity to make a good living. Some markets that are just ready and waiting for an Interstate Batteries franchise include North Carolina, Alabama, Texas, Florida, Colorado, Tennessee, and Georgia.

#4 Precision Tune Auto Care Franchise

Precision Tune Auto Care requires a total capital investment of $120,200 - $215,275 and a required $70,000 - $90,000 in liquid capital. A net worth of $150,000 is also required. Financing assistance is offered as well as training and support.

Precision Tune Auto Care provides a business model that not only provides the best service to the vehicles, but the best service to the customers as well. This is an outstanding franchise opportunity because everyone drives a car and all cars need service at some point so you are guaranteed customers every day.

#5 Priceless Rent A Car Franchise

The Priceless Rent A Car franchise requires a total investment f $100,000 - $300,000 and liquid capital of $25,000. Third party financing assistance is offered and training and support are as well. The Priceless Rent A Car opportunity takes advantage of the growth in the car rental market and you can capitalize on this growth with your own Priceless Rent A Car franchise. The market is competitive, but with this franchise you will be offered fleet financing training, support, software and website, roadside service, fleet planning, national marketing, and more.

#6 Grease Monkey Franchise

The Grease Monkey franchise requires a capital investment of $120,000 - $220,000 and a net worth of $300,000. Third party financing is available as well as training and support.The Grease Monkey franchise takes advantage of the fact that individuals like to keep their cars in excellent condition. Preventive maintenance is important to car owners and that is exactly what Grease Monkey provides!

#7 Big O Tires Franchise

Big O Tires is a great franchise for car enthusiasts and although a bit expensive to get into provides great return on investment. The total capital investment is $284,800 - $526,800, liquid capital investment is $100,000, and required net worth is $300,000. Third party financing is an option. Franchisees of Big O Tires will enjoy training and support to help the franchise become North America's number one tire retailer. Marketing, training, support, and product line are all offered to the franchisee.

#8 Private Party Cars Franchise

If you are a car enthusiast and you want to own your own successful business then a Private Party Cars franchise might be the business for you. Most people sell their car when they are ready to buy a new or used one. And, of the used cars sold each year the vast majority are by private parties. The Private Party Cars franchise brings buyers and sellers together. This is a hot market that will stay that way for years to come.

Private Party Cars is a franchise that requires a total capital investment of $90,000 - $487,000 and liquid capital of $75,000. Financing assistance is available via a third party and training and support are offered.

#9 ClearBra Franchise

The ClearBra franchise takes advantage of the market of individuals who want to protect their vehicles. People invest a lot of money in their cars, and protecting them is important. That is why a ClearBra franchise is so successful. The product sold is a clear, protective coating installed on the front of a car to protect the lights and paint. It can be applied to other parts on cars, RVs, motorcycles, boats, and more.

To purchase a ClearBra franchise you will need $102,800 - $193,000 with a liquid capital of $40,000. Third party financing is available and training and support are provided.

#10 Alloy Wheel Repair Specialists Franchise

Incredible earning potential matched with a large gross profit is what Alloy Wheel Repair Specialists franchises are all about. Body shops and car dealers frequently need alloy wheel repair and this franchise offers just what they need, on site! This franchise has very little competition and requires a low capital investment of $60,000. Training and assistance are provided.

Article Source: Raymond Lawrence

Labels: car enthusiasts, franchises for car enthusiasts, ten business franchises, top ten business franchises

Franchises are very popular at the moment and more and more people are choosing to buy one as opposed to starting out by setting up their own business.

By purchasing a franchise you are effectively taking advantage of the success of an already established business. As the 'franchisee', you are buying a licence to use the name, products, services, and management support systems of the "franchiser" company. This licence normally covers a particular geographical area and runs for a limited time. The downside to a franchise is that you will never actually legally own the business.

As a franchisee, the way you pay for the franchise may be through an initial fee, ongoing management fees, a share of your turnover, or a combination of these depending on how you have set up the franchise.

A franchise business can take different legal forms - most are sole traders, partnerships or limited companies. Whatever the structure, the franchisee's freedom to manage the business is limited by the terms of the franchise agreement.

For more information about buying a franchise please visit the British Franchise Association website.

Is it worth investing in a Business Franchise?

The simple answer is yes. However, it is important that you follow some careful steps before buying into a Business Franchise.

The good news is that there is information to suggest that the Franchise Business sector is still growing rapidly. During 2007 the Nat West Bank carried out a survey into the UK franchise market which revealed the astonishing financial growth of this sector. The approximate annual turnover of the business franchise sector is in excess of £10.8 billion. What is more interesting to note is that the vast majority of Business franchisees are in profit - a total of 93% to be exact! In 1991 the total number of profitable franchisees was 70% and in 2004 it was 88%. Therefore, this business sector is growing and there is a reason for it.

Why is it growing?

The simple reason is that a Business Franchise is usually tested first before it goes to market. If it works in one area, then there is a very strong chance that it will grow in others. As an example, take a moment to think about popular franchises such as Dominoes or McDonalds. They are literally everywhere, proving the fact that if there is demand in one area of the country, there will be similar demand elsewhere. The reason for this is because generally we are all the same, as people that is and we tend to follow trends. If 100 people like eating Dominoes pizza, then eventually there will be 100,000 that do! It's simple science but it is worth thinking about when buying a franchise. The only downside to this philosophy is that the more demand there is, the higher the cost of the franchise.

Getting in at the right time.

The most effective way to turn your initial franchise investment into a successful profit is to buy in at the right time. That is, to buy into a franchise in a 'key' area and at a time when the franchise is generally unknown to the masses. The benefit of this method is that is a franchise is new and not very well known, the vendor cannot demand a high price for their franchise. The downside to this method is that you, as the franchisee, take the risk that the business as a whole may not grow into a hugely successful business.

Carry out lots of research before you commit.

The first piece of advice, and probably the most important, is not to part with your cash until you are absolutely sure you will see a return on your investment (ROI). Do not, and I repeat, do not part with your cash simply because you are eager to 'own' a business. Owning a business may appear to be exciting and a way of impressing your circle of friends, but in reality it is hard work and often difficult to get off the ground. That is why you must carry out plenty of research first before you commit to anything.

You need to also be aware that running a franchise can sometimes be frustrating. As a franchise owner you are doing exactly that - owning a franchise. You do not 'own' the entire business but instead you own the rights to use the brand and operating structure and resources. For some, this can be frustrating. As a franchise owner there will be plenty of rules and guidelines to follow, which is why you must make certain this is for you before you commit.

If you buy the franchise, and then a later date decide that it is not for you, then the franchiser could include a clause in the contract that states you must sell the franchise back to them for 'X' pounds. After this has happened, what do you think the franchise operator does? Yes that's right, he sells it to someone else for a handsome profit! So the first thing to do is to make sure you are 100% certain that you will feel comfortable with owning and running a franchise.

The next thing you need to ask yourself is what skills do you have. Remember in the first lesson, 'The Business Idea', we asked ourselves 3 important questions:

1. What am I good at?

2. What do I enjoy doing?

3. What are my experiences?

Before you invest in a franchise or choose one you should ask yourself these important questions again. The answer to these questions will help you to determine which is the best franchise for you. For example, if you like working alone and don't generally enjoy meeting people, then a franchise that involves serving customers is probably not for you. This type of business, where you are engaging face to face with your customers, can be difficult so think carefully about what type of business would best suit you.

Raising the finance to buy your franchise.

Before you decide on what franchise to invest in, you need to first decide how much capital you have to play with. This may sound strange, finding the money before the business, but there is a reason for it. Imagine attending a business franchise seminar or exhibition. You spend all day going round the stalls and stands and set your heart on one particular franchise which costs £20,000 to purchase. You go away and start to see if you can raise this kind of capital, only to realise that there's not a cat in hells chance of you finding this quantity of money. On the other hand, imagine going to one of these exhibitions knowing exactly how much money you have to play with. Now you are ready to choose the right franchise that is within your budget, something that is very important.

Some banks will lend you the money to buy the franchise depending on the economic climate, your previous track record, your financial standing and of course your business plan. Whilst it is possible to get a good business loan rate, there are better ways to raise the money.

The first method is to borrow from friends or family. The reason why this is usually a better way is:

1. The risk is significantly reduced. You will not have to put forward your property as security.

2. They are more likely to accept a longer repayment term and lower repayments.

3. They will not expect a large return for lending you the money.

Whilst all of the above are positive aspects, if you fail to make back any payments that are owed you then you are likely to lose close friends and family and sometimes things can even end up in court.

So, probably the best way to raise the finance is through friends and family, but make sure you proceed with caution!

Article Source: Richard McMunn

Labels: buying a business, buying a business franchise, what to consider

Small business franchise opportunities are definitely not limited to food kiosks and carpet cleaning. There are literally hundreds of businesses franchised in the United States, ranging from automotive and children's franchises to pet and travel service franchises. Whatever kind of business you might be looking for, the spectrum of choices is limited only by your imagination and level of determination.

But how do you determine if a small business franchise opportunity is really right for you?

Franchise versus business opportunity

Perhaps the best place to begin your research is to briefly explore the difference between franchises and business opportunities.

A business opportunity is purchased outright. You, and perhaps your partners, own it and operate it under the name you have chosen. Typically, the seller makes his profit by delivering the equipment, real property, training or service that you just purchased. In some cases, the seller might earn residual income from your success (as is the case in a network marketing business). In most business opportunities, though, your relationship with the seller ends when you purchase the business. Basically, you are on your own at that point.

A franchise, on the other hand, is an ongoing relationship between franchisor and franchisee. The franchisor collects a fee up-front and also receives ongoing royalties in exchange for brand name recognition, an established business model, training and support. The franchisee receives the benefit of this brand name recognition and proven-successful business system. In exchange, the franchisee is required to follow established guidelines and policies regarding the operation of the business in order to ensure consistency from store to store.

Home business franchises are booming

One of the really marvelous benefits of a small business franchise is the ability to run it from your own home. In fact, many franchise companies encourage you to do so.

A home business franchise, allows you to enjoy the enormous benefit of an established company while avoiding the expense and headache of a storefront environment. Plus, many franchise companies invest their time in training you to run your franchise business from home. Your success is certainly in their best interest, so they will make sure you are properly trained and equipped.

One of the great benefits of being a home business franchisee is the ability to drawn upon the experience of other franchise owners. You will find that this network can provide a wonderful source of advice, encouragement and camaraderie.

Knowing your strengths and weaknesses are important when considering a small business franchise

While small business franchises have a considerably higher success rate than start-up businesses, you need to consider your natural strengths and weaknesses when deciding whether this is a good fit for you.

For example, being a team player is an essential factor in running a successful franchise of any kind. While you may be your own boss, you do not make the rules. You must be able to carefully and completely follow a system that someone else created. If you are willing to do so, you can successfully avoid many of the pitfalls responsible for the early demise of thousands of businesses.

Another necessary trait is the willingness to ask for help when it is needed. Again, this is the beauty of the franchise environment in that the small business franchise wants and needs you to succeed. In fact, the motto of the franchise industry is that you are in business for yourself, but never by yourself.

Do you consider yourself a "people" person? Do you enjoy providing a service or product that brings satisfaction to others? As a small business franchise owner, you will need to build loyalty and trust among your customers. The best and probably only way to accomplish this is by developing relationships with these important people. The good news is that if you answered "yes" to these two questions, you already possess two of the most valuable assets a franchisee needs for success.

Now, how do you feel about risk-taking? If the idea of having the safety net of minimum risk when starting your business appeals to you, then a solid, well-researched franchise is probably your best way to go.

After taking a serious and honest look at each of these personal characteristics, you should have a really good idea about whether investing in a small business franchise opportunity would really be your best choice. If so, do not be afraid to take the next step and begin carefully examining your wide variety of choices within the rapidly expanding world of franchising.

With so many highly successful niche markets to choose from, you are sure to find just the right fit.

Remember, a small business franchise requires much less capital than a traditional start-up business and certainly much less than a mega-franchise like McDonald's, while providing a recognizable brand name and a business system that works.

Article Source: Candice Clem

Labels: business franchise opportunity, franchise opportunity, small business franchise, small business franchise opportunity