Is A Work From Home Franchise Business Right For You?

If you’re interested in opening your own business, you should definitely consider the potential rewards of a business that would allow you to work from home. A home based business offers an amazing level of autonomy, and there are a surprising number of work at home franchise opportunities. In this article we will discuss some of the pros and cons of working from home as well as some of the available home based business franchises.

Pros and cons of a home business:
One major advantage of home based business franchises is that the initial investment required is typically much lower than a traditional franchise. Work from home franchises are usually in the $15,000-$30,000 range. You can occasionally even find a work at home franchise for as little as $10,000.

Another advantage is that a home based business has very few overhead expenses. Of course you will have to maintain a home office, but your chief operating tools will be things such as a computer, telephone or fax machine. If you choose to employ one or two people, there would, of course, be some payroll.

Home based business franchises require you to stock little to no inventory, which is advantageous because it alleviates the responsibility of keeping up with an inventory system.

Many prospective franchisees find the lifestyle associated with working from home to be the key advantage. There are a number of work at home franchise opportunities that only require a part-time commitment to be successful. This provides franchisees with a great deal of flexibility in their schedules and often affords them more time to spend with their families. This flexible schedule also allows business owners to conduct business at times that are most convenient for them as opposed to adhering to the traditional “retail-style” hours of operation.

However, working at home does have some disadvantages, too. There is staggered revenue potential associated with these types of businesses. Because there is no walk-by traffic, home based businesses are dependent upon a loyal client base for repeat business.

As the owner of a home business, you will have limited exposure due to municipal law, which prohibits home based franchises from maintaining “street signage” on residential properties. You can get around this restriction if your home has been zoned for commercial use, but for the most part your business’s exposure will depend on your ability to market it through various advertising media.

National advertising campaigns are not commonly associated with home based franchises. Normally, marketing the business is the sole responsibility of the franchisee, and this may limit the reach of your marketing campaign to your own town or city.

Finally, as a home-based franchisee, your business practice will be isolated. This can curtail the number of networking opportunities you will have. If you do not maintain an active and effective advertising campaign, you are likely to lose potential customers to any competitor who operates a street-front or retail business.

Available home based business franchises:
If you’ve weighed the pros and cons and decided that a home based franchise is right for you, you might consider some these franchise opportunities:

PosiGrip is a turnkey, home based franchise that offers its customers protection from dangerous slip-and-fall accidents. PosiGrip is a process that creates a tread design on almost any hard surface including tubs and showers. The process does not discolor or change the look or feel of floors or showers. It simply makes them safer. For an initial investment of $8,000-$10,000, you will receive training and support, national advertising and a complete marketing program. PosiGrip imposes no franchise or royalty fees on its franchisees.

Guard-A-Kid™ Child ID Systems is a franchise that allows the franchisee to choose working from home or from a mall kiosk. The services and products they provide their customers are essential for child safety. For example, a complete child ID and safety package that includes two wallet-size printed IDs, a large file-size ID and a CD-ROM containing all the child’s information in digital format is available to patrons. The initial investment for this franchise is $19,900. Your start-up kit will include numerous technological tools to ensure your success including a state-of-the-art laptop PC and an FBI-quality digital fingerprint scanner. Guard-A-Kid was included in Entrepreneur Magazine’s Franchise 500® list and was also recently named one of the top 100 new franchises by Franchise Market Magazine.

You can even work from home in the travel industry. For example, Cruise Planners is a nationally recognized cruise planning agency, and they were ranked number one in their category in Entrepreneur Magazine’s Franchise 500® for 2004, 2005, 2006 and 2007. The initial investment required for this home based business franchise is $20,000. Franchisees in this system enjoy training programs, marketing and advertising programs, exclusive lead and website programs as well as the highest commission levels in the industry.

Final thoughts concerning home based businesses:
The possibilities for entrepreneurs seeking a work at home franchise opportunity are virtually limitless. You can see the diversity in available franchises just from the short list above, and it is a short list. Many other opportunities exist.

If you’ve done your research and concluded that a home based franchise business is for you, you shouldn’t have any trouble finding a franchise to meet both your personal and your professional needs.

Selling A Franchise Business

Selling a franchise business is not as straight forward as selling your own business. Your franchise agreement will have detailed instructions on the procedures that you need to follow when you take the opportunity to sell your business.

The franchisor will be able to assist you in valuing your business and will probably insist that you use the methods of valuation as set out in the franchise agreement. You will of course be free to seek independent advice and valuations.

Be careful when seeking the advice of experts and always agree the price beforehand so that you are prepared for the final costs and have a chance to negotiate any prices quoted before giving them the work.

It is always worth seeking a second opinion as valuations can vary wildly. This is due to the many variables the valuation experts take into account including future growth potential of your business and values for any properties whether leased or purchased.

The franchisee will have to seek the permission from the franchisor to sell the business. This permission can not be unreasonably withheld or delayed provided that the franchisee has adhered to the terms of his agreement and has found a suitable buyer.

In some cases the franchisee will have to pay a small percentage of the sale price to the franchisor. This can range from five percent to twenty five percent of the final price. The franchisee will also have to pay the franchisor a small sum to do the normal checks on the future buyer.

The franchisor usually has a right to buy your franchise business at the same price as the highest offer received and considered acceptable. This is a normal part of any franchise agreement and is there to protect the franchisors rights. If they believe that you are selling the business at under value, then they could take the opportunity to step in and buy the business for the same price.

The franchisor might also want to take his business back into private control and this is an optimum time to buy the rights back. If this is the case then the franchisor might actually step in and bid higher than the current highest offer.

In most cases the new buyer will not be able to take over your franchise agreement. A new agreement will have to be created for the new buyer and your agreement will lapse. You will have to ensure that all monies due as per the franchise agreement will have to be settled prior to the transaction taking place.

Most franchisors will be able to assist you in the sale of your business if required. This service usually demands a premium and or a higher percentage of the purchase price.

Finally bear in mind that there is always a difference between the valuation and the final price achieved. In some case this difference can be huge. In the end the market place will decide what your business is worth and not the valuation report. At any point in time some business are more in demand then others and can command prices well in excess of their valuation price. Taking all this into account it is better to sell the business when the economy is doing well or at the right side of the economic cycle. By getting the timing right, this can make a huge difference to the sales price achieved.

Steam Cleaning Business and the Greasebusters Franchise

Frequent Steam Cleaning can drastically improve the visual aspect of carpet and upholstery. One of the biggest advantages many folks do not associate with Steam Cleaning is the health benefits it provides to those who suffer from allergies and asthma. The EPA has discovered indoor air pollution as one of the top five urgent environmental dangers to public health. When your home is polluted with allergens and dust, your lungs are expossed to greater health risks. Your lungs can't process oxygen into carbon dioxide as effeciently as they should. Routine Steam Cleaning can actually reduce allergens and dust and help your lungs breath easier.

One of the most trouble-free small business opportunities you can own is a Steam cleaning franchise. It's an easy business to run and business evaluation stability charts show steam cleaning franchises with a high rating. Because the investment level to start up a steam cleaning business is very low, it is a excellent small business opportunity for any person from any background. Many entrepreneurial minded individuals run extremely profitable steam cleaning businesses that were initially started with very low capital. These folks hold the knowledge that steam cleaning is a low investment business with the potential to earn a very high income. For those with access to minimal funds, starting a steam cleaning business can be a win-win situation. For those who are unfamiliar with business ownership, starting a small steam cleaning business can be a nerving situation. A lot of newly opened businesses fail because of mistakes that could have been avoided. Therefore, building a business plan before jumping into a new venture can mean either success or failure for your business. Subsequently, the two biggest fears for future business owners would appear to be job security and the failure of their new business. If one of the biggest fears people have about starting a small business is the fear of having no real security.

You can easily start a steam cleaning business with as little as $1000. It is feasible for some people to start the business with less than $500 under the right circumstances. If you own your own equipment and transportation vehicle, it will mean less money from your pocket. Realistically, most people who want to start a steam cleaning franchise don't own cleaning equipment. Alternatively, if you're just starting out and if you want to own an independent operation as opposed to a franchise, you have the option of leasing the cleaning equipment for a very small fee. Contrarily, Consider the benefits of a cleaning franchise. Although the initial investment to start a franchise may be higher, the benefits you will receive can have a huge impact on the success of your business. Brand-name recognition, an established customer base, and extensive training and support are fundamentally important to the success of any franchise. But the two most important are the training and support because they eliminate the guesswork that comes ever so often when starting a new business.

You can find several steam cleaning systems out on the market. Before starting your cleaning franchise, it is a good idea to research the various systems that are available. Some steam cleaning systems are more complex and more costly than others and achieve different results. Commercial cleaning companies commonly utilize truck mounted systems for their commercial strength and unique ability to cut down the time spent on a job. Many steam cleaning franchise companies utilize the truck mounted cleaning system.

A small steam cleaning business can turn some amazing profits. You won't find the flexibility and depth that the cleaning business holds in any other industry. And you can grow your steam cleaning home business as large as you want. Steam cleaning is a billion dollar a year industry and it's growing bigger every day. Deciding on a business with all the right properties is an important decision you will have to make if you plan to be your own boss. For every potential opportunity that presents itself, retain as much information about that business as possible to reduce problems in the future. A new business venture can be an exciting and rewarding journey. Sticking to your business plan staying focused can ensure the success of your franchise.

Picking The Perfect Franchise Business Opportunity

For many people across the country who wish to be their own bosses on a daily basis, the idea of the franchise business opportunity has proven to be very beneficial. A franchise business opportunity gives an entrepreneur a chance to try starting up his or her own business while still remaining in the safety net of an established business model. Benefits of a franchise business opportunity can include a more flexible work schedule, the opportunity to work for one’s self, and a proven framework with which to run a successful business.

As with any business venture, however, the franchise business opportunity also poses a few risks. This is why it is important to research and become familiar with the franchise company of interest before making any final decisions. Anyone interested in starting up some type of franchise business opportunity should first fully understand what is involved in making the business work. Being armed with a good amount of practical knowledge at the beginning of such a venture largely increases the odds of success with any franchise business opportunity.

When choosing which type of franchise business opportunity to pursue, it is always important to begin with the question of what one enjoys. Any self-run business, including a franchise business opportunity, will take a significant amount of time and effort. It is important to choose something that will be enjoyable and interesting.

Another important thing to keep in mind is the timing of a business startup. When one is first attempting to secure a franchise business opportunity, there will most likely be a lot of extra time devoted to this pursuit. It is important for the potential owner of a franchise business opportunity to begin at a time that works well in his or her personal and family schedule. Another good idea is to check with other franchisees and see what kind of business hours they put into work with their franchise business opportunity. This would probably be a very good indicator of which franchise business opportunity is right for a specific individual.

If possible, another good idea is to talk to the franchisers themselves, so that one can get an accurate idea of what is involved in the startup process as well as the actual day to day responsibilities of the franchise business opportunity. It is important to get a feel for the franchise company to see if it would be a good fit for the individual who is planning to become involved. A franchise business opportunity will be much more successful if the franchisee feels familiar and comfortable with the franchisers and has a good handle on what kind of commitment it will require.

It is also important to determine which type of franchise business opportunity would work best with one’s schedule and personal preferences for work environment. One type of franchise business opportunity that works well for many people is something that can easily be run from the comfort of one’s home. Others may prefer a franchise business opportunity that is operated from outside the home so they can interact with more people on a regular basis. These are all things to keep in mind when considering which type of franchise business opportunity would work best for the individual.

Overall, there are many options when pursuing a franchise business opportunity. If effort is taken to make choices that fit well with the personal goals of the franchisee, many people will find that a franchise business opportunity opens up a world of exciting possibilities.

Turning Your Franchise Into A High Income Business Opportunity

If you’ve recently invested in a franchise, you’re probably interested in turning it into a high income business opportunity. Follow these steps, and you’ll be able to build your coffers systematically.

Step One: Know Your Franchise Inside and Out

Though you have probably conducted some preliminary research on your franchise, if you want it to become a high income business opportunity, you’ll need to go even further.

For example, if the franchise in which you’ve invested is of the brick and mortar type, make every attempt to visit another franchise to see how it operates. On the other hand, if your franchise is entirely Internet-based, find other franchisors online and talk to them at length about what you can expect and how you can avoid common pitfalls.

(Most franchise owners who are not in competition with one another will readily share this information; and when you become one of their ranks, make sure you pass along your knowledge, too!)

The more you know about your franchise, the better the chances that it’ll become a high income business opportunity.

Step Two: Devote Time to Your Franchise from the Get-Go

If you want a high income business opportunity, you’ll need to put some time into it, especially during the start-up stages. This may mean scheduling long days on your calendar or perhaps forgoing a family outing or vacation.

Should you find it difficult to spend the necessary time on your franchise, it might behoove you to employ a part-time helper to complete some tasks. Though paying someone else will cut into your immediate profits, it can still be a wise investment that will turn your franchise into a high income business opportunity down the road.

Step Three: Ask for Help

Too many entrepreneurs make the mistake of thinking they have to do everything themselves; then, they eventually learn the truth: You need others to have a high income business opportunity.

If you find yourself swamped, don’t be afraid to reach out to friends and family. If you find yourself discouraged, get on the phone with someone who cares and will make you feel better. If you are stumped, call someone and find the answers to your concerns.

When you ask for help, you’re not making yourself look “weak”; you’re actually being quite wise.

Step Four: Change, Change, and Change Again

Though most franchises cannot be changed from the top down, they can be altered upon occasion. Additionally, advertising and marketing techniques will need to be revisited periodically to maintain the public’s interest and recruit new clientele.

Consequently, if you’re going to have a high income business opportunity, you’ll need to be open to change. Even if you are personally fearful of trying something new, do it for the success of your company. You’ll never regret your decision.

Franchise & Business Opportunity - Get All The Facts Before You Buy

A franchise opportunity may be the right business for you if you want to be your own boss but do not want to take the risk of starting a new business on your own. Make sure you get all the facts before you buy into a franchise.

Before you decide on which franchise you want to buy look at all the franchise websites and investigate the opportunities that are in the market place. Attend a franchise exhibition and speak to some of the franchisors and financiers.

Once you have narrowed it down to one or two franchises then get all the facts before you sign any documents or hand over any money. Many franchisors will use tactics like "the price is due to rise shortly" or "your territory has a lot of interest" to get you to commit sooner than you had anticipated. Ignore these types of pressure and investigate the opportunity thoroughly before you commit.

Ask for details of all the franchisees that are close to you and get in touch with them. This will help you to make up your own mind regarding the business opportunity and whether it is right for you.

Make your own enquiries and try and talk to franchisees that the franchisor has not recommended. This is because the franchisor is likely to give you details of his best performing franchisees.

Request an audited financial statement of the franchisor and carry out basic financial checks to make sure that the business you are considering buying into is strong, growing and successful.

Find out all the costs associated with starting the business and then running it. Enquire about any unexpected costs that you may have to incur like national marketing costs.

Ask the franchisor to give you details as to how your territory is going to be protected. Make sure that you do all your communication in writing whether by email or post. Written communication will help your case if things go wrong once you have started your business. Make sure that you get any verbal promises put to you in writing. Verbal promises will not count when there is a dispute between you and the franchisor.

Make sure you read the agreement properly and ask the franchisor for clarification of any part that you do not understand. It is often better to do this before you speak to your lawyer. The reason for this is that lawyers cost a lot of money and the more you understand the agreement the less time you will have to spend with the lawyer.

Finally, always get professional advice from your accountant and lawyer when you are ready to commit. They could make the difference between making a bad decision and choosing the right business opportunity.

Buying the right franchise and then committing fully to the business can be an ideal way to get started in business. Making the right choice and asking the right questions at the start will help you in finding the ideal business for you.

Franchise & Business Opportunities - The First Golden Rule

All franchises & business opportunities can be analysed for both growth and profit potential using very simple rules. These rules apply whether you are starting a business on your own or considering buying a franchise opportunity.

The first golden rule in business is to analyse the market place that you are contemplating to enter. Is it a declining market or is it growing? Is it becoming more competitive or less? Is it forecast to grow or decline? The same rules apply when you are considering buying a franchise opportunity. What forces are at play in this segment?

Let us assume that you are thinking of entering the retail trade and specifically men's clothing.

By analysing the market or commissioning market research you will quickly discover that the segment is very tough indeed. Average retail prices when taking inflation into account have actually fallen in real terms. Average cost prices have not fallen so quickly. Margins are being squeezed. Average spending power has actually increased so certain highly specific segments within this segment could still hold their own.

The growth in mail order and internet shopping for these products has risen over the same time. Supermarkets have entered the field and now hold a significant market share. The quality of imported goods has now reached the standards of some inferior brand names.

All the above should sound alarm signals for anybody considering entering this business segment. So the first golden rule in business is to enter a growing market segment where profit margins haven't been already squeezed. In reality the opportunity has already been exploited. Again if you are contemplating buying a business franchise in this segment I would advice you to think twice.

A rapidly growing market segment is to supply health care, holidays, specifically designed products and other services to the elderly. In the last 50 years the rate of growth of the over 60s has exceeded any other age group. Their disposable incomes have risen at the same time. This is forecast to grow even further as better understanding of health risks, improved medication and exercise facilities enable the population to live longer.

The need for help with every day activities also increases with age. Most elderly people need help with one or another area of life that we all take for granted.

Another very important feature that has been widely seen is that the elderly now seem to be a lot different from the same age group only 50 years ago. They are much more likely to travel on their own, exercise in the gym & demand greater services from both the business community and the government.

So in this case the first golden rule has been overcome. Profit margins are healthy and the market segment is expanding and forecasted to continue expanding. Spending power is on the rise and forecast to grow further in years to come.

There are many market segments that are forecast to grow so the above example is just one of them. Again there are other segments that have already started declining.

The First Golden Rule states that if you find a niche in a market place that is growing rapidly even a hard working fool can make money. Your accountant can help you analyse any market segment very quickly and easily. Why enter the wrong segment when you are likely to be in that field for at least the next 5 years? Look out for my next golden rule out soon.

Buying A Franchise Versus Starting A Business

Starting a business can be an exceedingly rewarding endeavor. From its inception you have complete authority on all decisions big and small - something as imperative as planning a restaurant menu, for example, to choosing what color and style of blinds to hang in the windows, you control everything.

Additionally, for those lacking the start-up capital to purchase or rent a location, you can start a business from home with little more than a computer with Internet access.

As attractive as this autonomy seems, however, starting a business from scratch is not without pitfalls.

For instance, there are high failure rates for new businesses. It takes time and effort to develop your business plan, secure financing, acquire the necessary licenses and get a clientele base. Indeed, it is wise for new business owners to have six months to one year of income set aside to subsist on while the business gets its footing. And, unless you have a wholly unique business idea, you will likely find yourself in competition with franchise businesses that enjoy vast brand awareness and customer loyalty.

This brand awareness is one of the major pros of buying a franchise business. You will be working within a proven system and enjoy instant brand awareness and credibility.

Additionally, a network of support is available to franchisees. This includes technical and managerial support from individuals who are knowledgeable about your specific business as well as the benefit of shared marketing.

And, if another franchisee in your area airs a commercial or sponsors an event, it stands to reason that your franchise location would share in the customers purchased by your neighbor’s advertising dollars.

All of these facts add up to a quicker return on your investment because your franchise business is recognized from the moment you open its doors for the first time. Also, should you find that you are enjoying great success with your franchise business; expansion is far easier with franchises than with a small business.

Finally, if it’s the food, hospitality or retail industry in which you’re interested, franchise businesses have a much greater success rate in all of these areas.

Despite all of these redeeming qualities, a new business owner should remember that a franchise business is not a guarantee for success, and the start-up can be quite costly. A franchise business requires the same initial investment as a new business where location, supplies, inventory and employees are concerned, but it has the added cost of a franchise fee which varies widely but can be as much as several hundred thousand dollars.

Franchise Red Flags

Entrepreneur.com lists five red flags that should alert a new business owner to a potentially poor franchise choice:

One is the franchise’s litigation history, which must be made available to prospective franchisees in the Uniform Franchise Offering Circular, or UFOC. A new business owner should look for how many cases the company has been involved in with franchisees. Anything greater than one or two cases per hundred franchisees is cause for concern.

Second, you’ll want to examine the turnover of units in the company, also available in the UFOC. How many franchisees have left the company and why? Was it due to failure or the sale of a successful unit to a new owner? The answer to this question can help determine—at least partially—how successful you might expect your unit to become.

Another factor that should disquiet a prospective franchisee is, after sincere research, an inability to come up with any substantial numbers concerning things like sales and profits. If it seems that this issue is skirted around, another franchise may be a better option.

Additionally, before buying a franchise business, you should ask around about the relative happiness of other franchisees. Talk to other franchise owners. Are they happy with the support provided to them by the company? Are they pleased with the success of their own units? A preponderance of unhappy franchisees suggests that you may be unhappy in this franchise as well.

Finally, although it seems simple enough, a brief look into whether your cultural and moral values mesh with those of the franchise might be easily overlooked. Is the franchise run by individuals whom you deem to be honest and that share your ethical guidelines? If not, it may be a difficult system in which to work.

Top Franchises of 2007

The Franchise 500® is a list compiled by Entrepreneur.com using the same criteria to judge each company, no matter what the size. These factors are “objective and quantifiable” and include, but are not limited to, the company’s financial strength and stability and the growth rate and size of a company.

Entrepreneur.com examines the start-up costs for each franchise, the length of time the company has been franchising, as well as some of the factors on their red flag list, particularly litigation and turn-over rates. They find out whether the company provides financing and use an independent CPA to audit its financial data. They insert all this data into an exclusive formula and assign each company a cumulative score. Then, the companies are simply ranked based on those scores.

Just a few of the franchises you’ll find on the Franchise 500® are: UPS Store/The Mail Boxes, Etc., Liberty Tax Service, Super Cuts, Two Men and a Truck, Golds Gym, Arby’s, Microtel, Beef O’Brady’s and Chem-Dry Carpet, Drapery and Upholstery Cleaning.

While the Franchise 500® can be a valuable resource for someone considering buying a franchise, Entrepreneur.com does not evaluate subjective criteria, and these areas—such as franchisee satisfaction—will need to be researched independently.

Great Ways To Cut The Cost Of Starting Your Franchise Business

One of the reasons a franchise business has such a high potential for success is because of all that’s included in the initial cost. In some cases, the start-up cost is the same (or very close) to building a business from scratch but without all the benefits such as established name recognition, target market research and existing publicity campaigns. With so many advantages, it can be difficult to understand why entrepreneurs choose to launch a business alone. Nevertheless, some of the high costs associated with franchises can become a deterrent for prospective buyers. What many of them don’t realize is that there are several options that help cut the cost.

Options for Financing Your Franchise

Many franchise opportunities come with a sizable price tag. Few prospective business owners can afford to make such an investment without some financial assistance. Unfortunately, not all of them will have access to the necessary capital it will take to satisfy start-up costs, franchise fees, royalty fees and a loss in revenue that will continue until the return on investment finally begins. If you have a well-established credit history (free of bankruptcies and established to the point where you’re considered as having enough credit), you may be able to get a conventional loan through a bank or credit union.

However, banks are typically reluctant when lending to small businesses. In reality, they rarely do so. Though not everyone will qualify for conventional loans, there are still options. If you have applied for credit to no avail, you can contact the Small Business Administration, an agency run by the federal government. The SBA guarantees a certain percentage of its loans, which puts lenders at ease because they are less likely to experience a loss. Plus, the SBA is usually willing to lend for longer periods of time and at larger amounts.

Of course, the SBA has specific criteria to determine eligibility. First, it must be a small business, which translates to less than $13.5 million in retail or service sales. Additionally, it must be located in the United States or a U.S. governed territory and only those interested in opening a for-profit business can apply. As you can imagine, this agency reviews countless applications, which means that you must handle yourself in a very professional manner. It is always a good idea to have your business plan ready before meeting with anyone regarding financial assistance, even a government agency.

However, the main disadvantage to getting an SBA loan is that the interest rate is set by the Treasury Department, which means that it is variable. Moreover, this interest rate is generally higher than those offered by conventional loans. Thus, if you can find a close friend or family member who is able and willing to lend you the necessary funds or even cosign, this is your best option next to financing on your own through a bank.

Economic Development Corporations

The federal government is not the only entity that provides monetary assistance to potential franchise owners. More and more state and county governments are pitching in with tax exemptions and other special programs. The New York City EDC, for instance, issues low-cost tax exempt bonds as well as double and triple tax exempt revenue bonds (these are technically issued by the New York City Industrial Development Agency, NYCIDA, an entity of the NYCEDC). Furthermore, this agency can even administer public loans. The only issue to consider before accepting assistance from an EDC is the fact that much of the available funding is dedicated to improving low-income or developing areas. Nonetheless, EDCs have funds available to prospective business owners like you. And, you have the opportunity to impact a struggling community. Still, before you decide to locate your franchise in such a community, make sure it is conducive to operating a profitable company.

Community Development Corporations

These non-profit organizations are dedicated to improving their local economies by lending money to small businesses. The goal here is to increase revenue and bring new jobs to the area. What’s more, CDCs are well known for developing affordable housing and improving education for residents in low-income areas. Once again, you must weigh the costs and benefits to starting a business in developing or otherwise lower income sections of a town or city.

Business Development Corporations and Venture Capitalists

If you’re weary of relying on public funding, you have the option of appealing to a business development corporation or venture capitalist in your territory. Returning once again to New York, its business development corporation is made up of financial institutions that pool their resources in order to lessen the risk. Rather than focusing on low-income sections of the state, this organization is devoted to helping all kinds of different businesses gain access to financing. The primary concern is to expand New York State in general.

Venture capitalists, on the other hand, are different from development corporations because they assume some ownership of your business. Because of this unique feature, they are willing to take more risks than traditional lending institutions. Depending on your specific industry and the stage of your business’s development, you may be able to find a venture capitalist fund to help finance your business.

Take Your Time

While there are opportunities for financing your franchise business and dramatically reducing your initial cost, keep in mind that some franchisees use their own resources for as much as 50 percent of their start-up expense. If you can not afford that kind of investment, consider working for a couple of years and saving some of the money for yourself. If you’re able to generate some revenue this way, you are more likely to qualify for a conventional loan. Otherwise, you will appear more serious to business development corporations and reputable venture capitalists. Thus, if you decide to wait after all, don’t become discouraged. Instead, use the extra time to conduct additional research and perfect your business plan. Sooner than you realize, investors will be eager to take part in your project.

Coffee Franchise Opportunities: Does Starbucks Franchise?…and Other Coffee Business Franchises

Does the aroma of brewing coffee transport you to a sensory paradise? Is a steaming latte your idea of comfort food? Do you consider coffee its own separate food group? If you answered “yes” to any of these questions, then a coffee franchise may be for you! When someone says “coffee shop,” the name that most often comes to mind is Starbucks. So it’s only natural that coffee connoisseurs and entrepreneurs will immediately want to know if this wildly successful java chain offers the opportunity to buy Starbucks franchises.

Despite its seemingly ubiquitous presence the Starbucks brand does not franchise or sub-franchise its operations. Rather, the company operates most North American Starbucks stores. The exception to this is situations in which Starbucks will enter into an agreement with companies that may provide physical locations that might otherwise not be available to Starbucks, such as space in airports, grocery chains, hospitals, and on college and university campuses. In addition, in certain areas, Starbucks may enter into an agreement with a group of individuals or a company in which the company or group is permitted to manage and operate Starbucks outlets within a certain region.

The unavailability of Starbucks franchises, however, should in no way dissuade the coffee lover from pursuing a coffee franchise business opportunity. There are numerous coffee companies that do, indeed, franchise their operations, and many even venture beyond the traditional coffee bean to provide gourmet coffees, food options, and even catering services.

The following represents a partial listing of the many coffee franchise opportunities available to java lovers everywhere.

Caffino

With its “60-second guarantee,” Caffino is a drive-through coffee bar that first opened its company doors in 1993 in Napa, California. Franchising since 2003, Caffino currently has 27 locations in 3 states, and it is actively expanding. Caffino prides itself on roasting its coffee on-site using only the world’s best coffee beans, Arabica Grade 1. The startup cost for a Caffino franchise ranges from $212,900 to $373,000.

Beaner’s Coffee

Founded in 1994 and franchising since 1999, Beaner’s Coffee offers a variety of the coffee beverages made from flavored, decaf, signature, organic, and fair trade beans. In addition, Beaner’s goes beyond coffee service and ventures into the world of sandwiches, salads, and baked goods. Beaner’s carries a startup cost of $240,000 to $300,000 and offers the option of express or kiosk franchises. Beaner’s is currently seeking franchisees nationwide, and for its franchise owners, exclusive territories are available.

Woody’s Chicago Style

Coffee and hot dogs? Not your typical combination, but Woody’s Chicago Style has no problem combining the two. Begun in Honolulu, Hawaii, Woody’s Chicago Style is a hot dog, beverage, and coffee cart business that has been franchising its operations since 1991. While franchises are not currently available in every state, Woody’s is seeking franchisees in Arizona, California, Colorado, Hawaii, Kansas, Missouri, Montana, Nebraska, New Mexico, Nevada, Oklahoma, Washington, and Wyoming. And with a price tag ranging from $54,100 to $464,000, Woody’s just may be the right option for your pocketbook!

Scooter’s Coffeehouse

With franchise opportunities existing both in the United States and worldwide, Scooter’s Coffeehouse ranked #26 in Entrepreneur.com’s 2007 listing of the top new franchises. In business since 1998 and franchising since 2002, Scooter’s is a specialty coffee franchise that also serves up brewed coffees, espressos, flavored coffees including sugar-free options, teas, and a wide selection of smoothies. Startup cost ranges from $60,000 to $410,000, and, in addition to training, Scooter’s offers significant ongoing and marketing support, including regional advertising, national media, field operations/evaluations, purchasing cooperatives, newsletter, meetings, and a grand opening.

Dunkin Donuts

Who doesn’t recognize this household name in the coffee and donut industry? Established in 1950 and franchising since 1955, Dunkin Donuts now boasts more than 7,000 stores worldwide, including 1900 locations in 30 countries. In the United States, more than 5,200 Dunkin Donuts locations dot the landscape in 36 states. Based on years of operation and experience, Dunkin Donuts has a 5-phase franchising process, which begins with an application, credit check, and criminal background check, among other things, proceeds through several steps including an interview, business plan development, application approval, training, site location, and financing, and ends with restaurant construction and crew training. To ease financing costs, Dunkin Donuts has partnered with preferred lenders who offer franchisees flexible financing options, including Small Business Administration (SBA)-backed loans for certain transactions.

In addition to the five coffee franchise opportunities briefly profiled above, no fewer than twenty franchise opportunities exist for entrepreneurs seeking to turn their coffee passion into a profession.

From Café Ala Carte cappuccino catering service and Grabbajabba gourmet coffee and European sandwiches to It’s a Grind Coffee House and Maui Wowi Hawaiian Coffee and Smoothies, numerous coffee franchises ranging from low-cost to high investment are available for serving up that morning cup of Joe, mid-day sandwich on the run, or afternoon tea or smoothie.

So next time you walk into your neighborhood coffee shop to fill your latte craving, imagine providing that same satisfaction to other coffee lovers like you…and even better yet, making a living at it!

Franchise Business Opportunities: The Pros And Cons Of Buying A Franchise

Have you always wanted to go into business for yourself? If so, it's possible that you've considered whether buying a business franchise is the right choice for you. Starting a business in any field is a significant life and professional decision, and, as with any major decision, it is important to weigh all of the pros and cons before taking the leap into a business franchise opportunity.

There was a time when someone wanting to start a business would follow the traditional route of selecting an industry, researching and establishing financing, and then hanging a shingle on the doorpost. These "mom-and-pop" businesses in many ways became the backbone of economic growth and development. Yet, as many entrepreneurs will readily tell you, independent businesses, even with their allure, often carry great risk, and the vast majority of small businesses fail within the first few years of operation.

Enter the franchise business opportunity. Although franchising is a relatively new business concept as measured against the scope of history, it is a business option that carries a much higher success rate than traditional independent businesses, and this is particularly true if you are a first-time business owner.

According to AllBusiness.com, a leading business information and resource portal, among the advantages of purchasing a franchise over launching a traditional independent company are "instant brand awareness and credibility, administrative and/or technical support, franchisor-provided training, quicker return on investment, strong management, and a network of other franchisees and associations dedicated to supporting franchisees."

While as an independent business owner, you are solely responsible for costly promotion and marketing of your product or service, as a franchisee, you usually have the benefit of national media marketing and advertising done by the parent franchise company. In addition, independent local businesses often find themselves in direct competition with well-backed franchises that simply have more resources to promote and operate their businesses.

That said, however, the very ordered nature of franchise business opportunities may come as a disadvantage to some, as by an established franchise system the creativity of the entrepreneur is often curbed. Yet, given the support available to franchise buyers and the numerous low-cost franchise opportunities, for many, purchasing a franchise still holds noticeable advantages over starting a traditional business.

Thus far, we have focused on the benefits and drawbacks of purchasing a franchise opportunity as opposed to opening a traditional business. But perhaps your choice is between buying a franchise and remaining at your traditional job or, if you are just entering the workforce, between purchasing a franchise opportunity and getting a traditional job.

There are unquestionably distinct advantages and disadvantages of buying a franchise business opportunity, and if you are considering taking the leap from employee to entrepreneur, it is important to carefully weigh both the pros and the cons of purchasing a business franchise. Benefits of Buying a Franchise As reported by AllBusiness.com and the International Franchise Association (IFA), the benefits of traveling the path of business franchise ownership are many, and they include:

1) Probability for success - With an established support system, franchisees are often able to avoid many pitfalls that lead to the failure of numerous small independent businesses.

2) Brand recognition - Customers become familiar with the franchise brand and learn to trust that brand, thus increasing business for franchise owners regardless of location.

3) Availability of training and support - Franchisors offer training programs for new franchise owners prior to the "grand opening" of their franchise outlet, and once the franchisee's new business is "up and running," franchisors provide ongoing support in the form of meetings, networking, additional training programs, research & development, etc.

4) Joint purchasing power with other franchises - While many independent business owners lack sufficient resources to do extensive advertising or even to maintain inventory at bulk levels, franchising allows entrepreneurs access to the franchisor's purchasing system so they can leverage outlay to achieve a greater return on investment.

5) Experience of the franchising company - Perhaps the most compelling advantage of franchising is the benefit of the experience of the franchisor. This significant "pro" minimizes risk among franchise buyers both by helping them avoid common mistakes and by granting them access to proven systems of business operation.

Drawbacks of Buying a Franchise

Even with their allure, however, franchise ownership also carries several cons that should be carefully considered before making the decisions to become a franchisee.

1) Risk - Although franchising significantly reduces the risk of business ownership, it does not eliminate it altogether, and as with any entrepreneurial venture, the success of a business franchise depends largely upon the efforts and determination of the franchise owner. It is by no means guaranteed.

2) Comparison with other franchises - While brand recognition is listed under the "pro" column, it also has the potential to be a "con" in the world of franchising. Just as consumers learn to trust a brand based on positive experiences, one negative experience can turn a buyer off to your franchise, even if your particularly branch was not at all involved in the negative scenario. Thus, the very nature of franchises and one of their chief success components also can present a primary drawback of franchise ownership.

3) Lack of independence - Again, although proven systems of business offer great benefit to the franchise owner, operating within the franchise system also imposes limitations on the entrepreneur. He or she is often is not free to pursue creative ideas at will, as the franchisor requires adherence to established rules and regulations.

4) Management responsibilities - When considering buying a franchise, it is vital that you are honest with yourself regarding your management expertise and capabilities. This is an area that many do not automatically relate to franchising, but the reality is that franchise ownership often requires human resources and business management and development. And this is often easier said then done. Although prior experience is not always required, honest evaluation of your current skills is paramount to measuring your potential for success.

5) False expectations - Franchising is by no means a "get rich quick" opportunity, but sadly many franchisees carry unrealistic expectations regarding their capacity to earn significant income in a short period of time. Just as any business requires extensive determination, hard work, and steady commitment, so, too, does franchising, and it is important that anyone considering buying a franchise business opportunity keep realistic expectations regarding the effort involved.

Inarguably, franchise businesses carry great potential for success. Yet they also present unique disadvantages to the franchise owner. Through carefully weighing all of the pros and cons, you will be able to determine if buying a franchise is the right choice for you.

Buy A Franchise Or Start A Business?

A franchise business is definitely the safer opportunity according to US Department of Commerce figures. This study carried out over 7 years revealed that after seven years, over 90% of new franchises are still in business, as compared to only 20% of individual new start-up businesses.

Most people, who do start a business by themselves, end up failing and losing a lot of money. I now that this is a sad fact, but it's true!

If you start a business on your own, you have to make all the decisions regarding location, layout of premises and find and vet all suppliers.

With a franchise business, the franchisor will advice you on all the above. In fact, you might even find that you are told where to locate your business, who your suppliers are and have some choice in pre designed layouts.

A franchise business provides you with the consistency and quality throughout the franchisors territory. This leads to higher levels of customer satisfaction. The franchisor provides full training and support in running the business. If a site is required, the franchisor will assist the franchisee in selecting a site that fulfils the demographic requirements of the product.

A business start up has to learn from trials and errors until they hit on a formula that works. They have no training or support in managing their business opportunity. If any thing does go wrong, and in most businesses, it does, then they have no one to turn to for advice. The advantage they have is that there is no one looking over their back, telling them what to do and how to run their business.

The franchisee benefits from national marketing which is spread out amongst all the franchisees, enhancing the economies of scale. New products can tested in certain territories before they are rolled out nationally.

A new business will have to trail any new products with their own capital and take the full brunt if the experiment fails!

The relationship between a franchisee and a franchisor is well balanced. Both parties need each other to survive and create a profit. Ongoing support and training is usually available for franchisees who are struggling. Due to the higher success rate, banks are inclined to lend a higher percentage of start up costs in a franchise business then they are to an independent start up. They are also more likely to give extra leeway when more funds are required.

If you have decided to go down the franchising route then it is important that you choose a franchise that is right for you. Don't just go for the opportunity that will make you the most money, instead, choose a business niche that you will enjoy.

Decide how much capital you have to invest, and then choose the franchise opportunity that best fits your lifestyle. Decide how many hours you want to work and how many employees you are capable of handling.

Once you have made up your mind to buy a franchise, always have a contingency fund as there are always unexpected costs that arise in the initial years of running a business.

If you decide to go it alone, make sure you speak to other people running the same type of business in other parts of the country and learn from their experience. You will find other businesses in the same field as you more then happy to part with their experience once they realise that you are not going to compete in their territory.

Make sure that you take professional advice before deciding to follow the franchising route or starting a business on your own.

Common Myths About Operating A Business Franchise

As with any business venture, you can not always rely on information passed casually between holes at the golf course. While 95 percent of all franchises are successful, there are several common myths that may set some franchisees up for failure. This happens when an entrepreneur enters the franchise model with high expectations only to be let down by the realities that come with any business. It’s important to be realistic and deliberate in your approach to launching any new company, whether it’s an established brand or built from the ground up. As you weigh the pros and cons of operating a business franchise, do preliminary research and don’t accept what “everyone else” seems to tell you, even some of the franchisors.

Myth: Franchises are a guarantee route to success in the business world.

Fact: The main reason franchises are so successful is because of their rigorous requirements. For instance, most of them require large capital investments. Many of these investments are so substantial that only serious entrepreneurs would even consider signing on. Of those who purchase one of these businesses, not all of them have the assets allowing them to wait for a return on investment. The fact is that it can take a considerable amount of time for franchisees to generate a profit because of the high investment, royalty fees, etc. Thus, under capitalization is the most frequent cause of franchise failure.

Myth: You can be your own boss.

Fact: While you will enjoy some perks that come with owning a business, you are still subject to the operating system provided by the franchisor. A few examples of this include hours of operation, approved equipment and supplies and even marketing items. What this means to you is that closing early on Christmas Eve may not be an option, unless you are willing to risk getting caught and any accompanying repercussions.

Myth: Buying a franchise is less expensive than starting your own business.

Fact: The initial cost of purchasing a franchise business is typically the same as building one from the ground up. This makes sense when you consider the real estate, equipment and supplies in addition to franchise fees (allowing the use of the brand name, logo, trademark and in some cases, marketing materials). Plus, royalty fees to be deducted from your profits later must also be factored into the equation. Of course, there is no reason to become discouraged. In truth, the key to managing a lucrative franchise is to find the right business opportunity for you, which brings about the next point.

Myth: Higher cost franchises translate to larger returns.

Fact: Rather than searching for the highest investment amounts, you should do your best to find a franchise that will allow you to make use of valuable skills. For example, if you have previous experience in the daycare industry, you should consider some of the children’s franchises in this industry. Though children’s salons are all the rage, your resources, economic and otherwise, will be better spent running a business you already understand. You will see higher profits sooner. Thus, putting your capital in one of the low cost franchises of which you are knowledgeable will prove more profitable than using your resources on one of the high capital franchises you know little about.

Myth: Franchising is a stress-free way to start a business.

Fact: Building a business of any kind can be very stressful at times. While franchises offer terrific benefits such as established name recognition, a working infrastructure and ongoing advertising campaigns, franchisees are not immune from the ups and downs of business ownership. The fact is that these benefits come with specific requirements. Not only are franchisees expected to operate within certain guidelines as mentioned previously, they’re also held accountable for the financial success of their stores. One illustration of this might be a business franchise that experiences a drop in sales over one month. Not only does the owner have to deal with loss of revenue, he or she has to provide an explanation to the franchisor.

Myth: Owning a franchise means you no longer have to deal with employees.

Fact: Developing any business takes not only a monetary investment but also your time and effort. Chances are, you will spend some time, even though it may be very little, making sure things go smoothly at your store. For instance, imagine owning a restaurant franchise. You stop by to visit with your manager about changing coffee suppliers when you notice an unusually full parkinglot. You enter the restaurant to find that all the employees working at their maximum. Drink orders are completely backed up. Since you have a vested interest in making this surplus of customers is happy, it only makes sense for you to jump in and start making drinks. Moreover, if you plan to manage a multi-unit franchise, you will have to hire and develop a quality team of managers in order to achieve success. This would require a great deal of communication and consequently, demand spending time with management employees.

Myth: It’s better to purchase a brand that is already established in my region.

Fact: Going back to the restaurant example, if your goal is to open a profitable fast food chain it may be wise to open one that is already reputable in your community. After all, people know what you offer and that they enjoy it. On the other hand, you have to consider the amount of business the other restaurants are getting. Do they have customers from your territory willing to travel across town to dine there? If so, is the market big enough to share if you build a location in between your designated part of town and the other store(s)?

Myth: You’re always protected from competing franchises in your territory.

Fact: This depends on your contract. If your agreement is strong, you’ll be protected from unwarranted competition, even when it is due to a company merger or a second chain created by your franchisor. Additionally, you should always consider the time frame disclosed for when your territory becomes negotiable. Nonetheless, best way to attain a beneficial agreement between you and your franchisor is to have an attorney review these important documents before you agree to any of their terms.

Myth: The most popular (and lucrative) chains are franchise businesses.

Fact: While studies show that franchises are more financially rewarding overall, not all lucrative chains are franchises. Case in point: Businesses like Starbucks, Lone Star Steakhouse and Kinkos function under a company owned model. This means that the company owns each store but hires managers to run them.

If it Sounds too Good to be True…

With any business, the prospective owner must be prepared to put in a great deal of hard work, time and in many cases, capital. The only real way to guarantee success is to find the business that utilizes the resources already available to you (financial and otherwise). Most of all, it’s good to be optimistic as long as you remain aware of the dedication it takes to run any productive business, even franchises.

Buying A Franchise Business - How To Choose?

Buying a Franchise is a great business opportunity as the majority of franchisees are still trading successfully after 7 years (source - US Department of Commerce figures). Before you start looking at franchises, decide which market niche you want to enter. Choose a field that not only creates a livelihood but one that you personally will enjoy.

You also have to analyse your self. Are you good at sales? If you do not like being cooped in to one environment, then a franchise which demands that you out and meet people might be good for you.

Do you prefer it if the customer comes to you? If you prefer to have a retail outlet where you task is to ensure that the environment is as conducive as possible so that customers will be more inclined to shop, then a fast food franchise or similar might be up your street.

Where does your expertise and strength lie? This analysis will determine the franchise that you choose. Always choose the option that is right for you!

Some franchises do all the market research for you and even help you to choose a location for your business. Your job is then to manage the business, keep proper accounting records, always be at hand and control the staff. This would be ideal for a person with good management skills.

Other franchises ask you to work from home, set up a mini office and then go out and network with local business to generate your income. This might suit people who do not like to be tied down and handle rejection fairly easily.

Once you have found the niche that you enjoy, then start looking at all the franchises available in this field.

Choose a franchise which has a proven track record, and then speak to existing franchisees. By speaking to them you will be able to quickly understand the business and the pit falls. Spend your free time analysing the market and visit the library if you require further information.

Most franchisors offer excellent training and long term support. Some even have refresher courses throughout the year which you can attend.

The advantages of working for yourself, but not by yourself are what many franchises try to encapsulate. The disadvantages of buying a franchise are that you have are restricted in many areas.

If you’re ready to make the commitment, franchising can be a rewarding, and often highly lucrative business. Remember to take professional advice before signing any legal documents.

Converting Independent Business To Franchise

In recent times there has been the prevalence of conversion of independent businesses in same industry into franchise units. This has fostered the rise and growth of a number of franchise systems. Now the question that arises in the minds of all businesspersons is that whether considering franchise is gainful. While venturing into franchise the pros and cons of it need to be adjudged properly. Only then can you, the businessperson, proceed towards conversion of your independent businesses to franchise. There are both advantages and disadvantages of conversion of your business into a franchise.

By this conversion you may get a considerable marketing advantage if you are associated with an established brand. This is especially so if the brand has a national or regional significance. Leading brands automatically drive in more customers and thus more profits. Again, a significant purchasing power savings is obtained by being associated with a large system having a much better bargaining power than a single independent operator. Besides, by changing over to franchise the benefits of an operating system of a concern of choice, which is tested and proven by many other operators to have produced the highest possible level of success in business, is obtained.

There are also some disadvantages lying in converting independent business to franchise. Fees and operational flexibility pose as important drawbacks. A converting franchisee requires paying both initial and ongoing fees. These are the fees that represent the expenses, which are not incurred by an independent operator. So, it is pointless to opt for the franchise unless the increased projected revenue, cost savings and profitability will more than offset the fee costs. Again, a franchise system has many rules based on which a franchise business is to be run some of which may seem uncomfortable. This is not the case in independent business.

In order to evaluate the prospects of conversion the franchisor may conduct a business review of the existing operation and inform the prospective franchisee of the key charges required in conversion. In this way the benefits that will accrue to the operator upon converting can be listed. Thus, a wise decision can be taken upon consideration of the profitability prospects.

Building Your Dream Franchise Business

Everybody dreams of becoming his or her own boss, but is it so easy to kiss your job goodbye? Yes, it is possible if you open a franchise business. Owning a franchise business opens limitless opportunities; you can become your own boss and lead a great lifestyle.

With all the resources available on franchise opportunities nowadays, locating your ideal franchise business has become much easier. There are plenty of websites that provide detailed information on owning a franchise business. These websites help potential franchise owners find the best possible franchise information on business opportunities and franchises for sale. These franchise directories are essential tools to help entrepreneurs find new business ideas for any new enterprises. Most of the more established franchise directories extensively cover the franchise industry sectors such as retail, business services, home improvement, food services, and senior care etc.

As there are a huge number of franchise opportunities available, how do you pick the right franchise opportunity for you? It is important that your interests match your choice of franchise business. To start with, carefully take stock of what you really enjoy doing, what you want out of your business and what you want to achieve out of life. Write down a list of your interests, desires and passions. What kind of jobs have you held before or what past opportunities have you explored? After you have reflected on these questions, give some thought on the type of franchise business opportunities that appeal to you and that can help you realize your ambitions and goals.

Once you are committed to buying a franchise business, your next step will be to decide which service or product you want to invest in specifically. You should also investigate the scope and the details of the franchise business you want to get into in terms of profitability, investment opportunity, market viability etc.

Before starting a franchise business it is a good idea to consult with experienced entrepreneurs in the same field of business. Owning and operating a business is a large commitment as it involves a lot of money, time and energy, so you do not want to be stuck running a business that you do not enjoy nor is the right fit for you.

Many franchise businesses opportunities in the United States are a perfect fit for small business owners starting down the road to entrepreneurship. Starting with a small business franchise makes sense if you are looking for an opportunity that is a safer investment than traditional business.

Explore the possibility of franchise business ownership if you want to lower the risk of owning a traditional business. Before investing in any franchise business, be sure to get a copy of the franchiser’s disclosure document. Established enterprises such as coffee franchises or restaurant franchises depend on their franchises to penetrate untapped market segments at a lower risk of failure. For any franchise business, the brand recognition and the high quality standard already established by previous chains provide a huge advantage to new franchisees.

Best Franchise Opportunity - Home Based Businesses

If you would like to learn about why home-based businesses are the best franchise opportunities available, then you'll want to read this article. Specifically, we will discuss the profit potentials that home-based business franchise opportunities hold, and what advantages they have over all other opportunities out there. Finally, we will discuss basic strategy on what to look for when analyzing whether or home-based business franchise opportunity has potential.

Everyone wants valuable information about a certain topic, and are willing to pay money to get it. For example, every day people are spending untold fortunes to find out how to lose weight, how to get rich, how to meet women, or how to discipline their children, just to name a few. The great thing about selling information is that it cost very little for product creation, but can sell for very high amounts. This means you can create an information-based business from your home, and sell this information through marketing vehicles such as the Internet.

However, wouldn't it be better if somebody had already created a system for you? That's why you want to buy a home based business franchise opportunity in the information field! The best ones provided a turnkey system for you.

Other things to consider that make home-based business franchise opportunities great is that they require very little upfront investment. Also, you get to make the 50 foot commute -- the walk from your bed to your desk -- to get to work. This means you have more time for family activities, and to enjoy the comfort of working in your own home.

Be sure to do thorough research through the BBB (Better Business Bureau), other franchisees, and internet resources before making an investment into any home based franchise opportunity. There are many great opportunities out there, but there are definitely some bad apples out there. It is my advice to really dig deep into the franchisors UFOC, and actually visit their home office if you can. You can tell a great deal about the franchise just by talking to members of their key management. While my tips might seem like I am telling you to go overboard, they are needed precautions to make sure your investment is safe.

Finally, if you locate a great home-based business franchise opportunity, make sure it's the real deal and not a scam. The best way to do this is to talk to other people who have entered into the same franchise. Find out how supportive the franchisor was to these people, and if they delivered on everything they said they were going to. By doing a little bit of background checking, you can avoid all the scams that are out there.

In conclusion, home-based business opportunities offer some of the highest profit margins and most comfortable work settings around. Just make sure their sound opportunities before you invest in them. Follow the advice given in this article, and you'll make good decisions, regarding franchise opportunities.

Are you ready to be an entrepreneur? It takes a lot of self-determination and want to really work for yourself. I’d say at least 75% of people in business today are not cut out to be entrepreneurs. If you have that burning desire to own a franchise or your own business, then a franchise could be what you have been looking for. Take time to sit down to assess and plan your skills, finances, and goals to see if you are ready to take the leap to self-employment. Always consult a financial planner and attorney before making any decision that will impact your financial future for a long time.

So what it all comes down to is knowing what you want out of the business, and knowing what skills are required to run a business successfully. Also, it involves knowing how to analyze franchise opportunities to find the winner that suit your personality best. If you can do that, and follow the advice given above as it relates to franchises, maybe franchise opportunity is the perfect thing for you.

A Business Franchise Philippines Success Story

A Business Franchise Philippines Success Story

In the Philippines, the term fast food is pretty much synonymous with the Jollibee brand. It took more than just one man for it to become that way, but all it took to start was a man name Tony Tan Caktiong. The humble beginning for Tony was working with his father to operate a kitchen in Fujian, China. In 1975, Tony began his entreprenuerial journey with simply a pair of two ice cream parlors in Cubao, Quezon City.

Despite his success with the ice cream parlors, Tony didn’t stop there. He looked around the world and saw the kind of success chains like McDonalds were having. Instead of opening a franchise for an existing fast food chain like Burger King or Wendy’s, he decided to expand with the opening of his own chain of hamburger-serving fast food restaurants named Jollibee in 1978.

Since McDonald’s hadn’t yet entered into the Philippines, Tony capitalized on this fact by establishing his brand among the Filipino people. Instead of trying to learn everything from scratch, Tony traveled to the United States to learn the tricks of the trade from the already established chains such as McDonalds. By implementing these tried and true business practices back in the Phlippines, Tony’s hard work began to pay off when his business began to rapidly expand. The division of Jollibee Philippines really tries to serve the specific needs of the Filipino people and its culture by focusing its product development as well as its marketing and advertsing to target the unique and traditional Filipino family.

Today Tony Tan Caktiong serves as a success story and a role model for entreprenuers around the world. This was solified in 2004 when Tony was voted the Entrepreneur of the Year by Ernst & Young. The chairman of Ernst and Young, James S. Turley said, “These awards are about celebrating global entrepreneurship and the desire to continually innovate and expand. Tony’s story is a truly inspirational one, on both these counts. We are delighted he has been selected to receive this year’s award.”

Business Franchising – Just What Should You Look For In A Franchise?

What is a Franchise?

· An authorization to sell a company's goods or services in a particular place
· A business established or operated under an authorization to sell or distribute a company's goods or services in a particular area.

How did franchising start?

One of the earliest franchisors was the Singer Sewing Machine® Company, which set up dealers shortly after the Civil War to sell and repair its revolutionary machines throughout the country. Shortly after the turn of the century, Coca-Cola® licensed others to manufacture and distribute its wonderful elixir. Ford Motor Company® later set up dealers to sell and service its products. Of course, McDonald's® is an example of how an entrepreneur (Ray Kroc) could take an idea and quickly spread it coast to coast (and eventually around the world) without starting out with millions of dollars in capital. Many companies turn to franchising as a system for expansion because they recognize that they can grow rapidly with a minimum amount of capital and enlist top-notch partners if the company is willing to share the profits. The company that sells licenses to its system is called the franchisor, while those who open their own units are called franchisees.

Why franchise?

There are many reasons why franchising is the best type of operation for the majority of first-time business owners. Most revolve around the increased probability that the business will succeed and provide profits to the owner in a shorter time frame than an independent business. This allows the owner to address her or his personal goals both financially and personally. Here are a few, more detailed, answers to that question.

Earn what you’re worth

Thousands of franchise owners report they were handicapped in their corporate careers by company policies and supervisors that put a cap on their earnings. When you own your own company, your efforts are rewarded and your personal income shows it!

Satisfaction of Achievement

Many business owners report that seeing their actions turned into reality without stagnating for months in committee meetings (as often happens in big companies) is a major reward of owning their business.

Quicker Start-Up than Independents

A proven plan out-paces an independent’s hit & misses operation almost every time. Looking at just independents that succeed--you'll find that franchises grow quicker, reach break-even sooner and succeed more regularly than others in the same industry as depicted in the accompanying chart


What do I need to know?

Another question that arises is “What do I need to know in building my own franchise?” There are four main ingredients found in each business...

· The product or service that is delivered to its customers.
· The location that the business occupies.
· The amount of capital that was invested or borrowed by the venture.
· The management team that runs the company -You!

Making a choice

Choosing the right franchise can be a confusing process.

First, you must believe in the product or service that the franchise network delivers. Is the niche stable, expanding, long-term, saturated?

Next, you must verify the industry's future. What do the trade papers predict?

Check your aptitude for the job. If you don't enjoy math, an accounting franchise isn't for you, etc. Often outside sources can help here. A personality and aptitude test (similar to those used by major corporations) will help you discover your hidden talents.

Determine the earnings capability. Most franchisors can't provide earnings projections, but you must make an effort to determine your future return.

Confirm the potential earnings and the franchisor's integrity with existing franchisees. Each franchisor will give you a list of its network members.

You should call them to get their confirmation of your projections. If a franchisor (or business opportunity seller) will not give you a list of its franchisees, you should heed the red flashing lights and end discussions.

While this article is just the tip of the iceberg, you can get a good idea why you should start your own franchise, today.

Improve The Quality Of Your Franchise Business With Multi-Unit And Multi-Concept Franchises

Multi-unit and multi-concept franchising both provide opportunities for fast, efficient growth. Franchising is an obvious consideration for individuals who naturally have that entrepreneurial spirit. You might be wondering what is means to have an entrepreneurial spirit.

Are you self-motivated? Do you dream of building a business with your two hands? Do you struggle as an employee, constantly feeling like you could improve the company if someone would hand over the reins? If one or more of these questions provokes an affirmative answer, you are an entrepreneur who is ready to find a track into the business world, possibly with a business franchise.

Most importantly, you do not need a college degree or years of experience to take advantage of this increasingly emergent business prospect. And, with the right information, you can successfully operate more than one franchise business.

What is Multi-Unit and Multi-Concept franchising?

Multi-unit franchising occurs when a franchisee operates multiple stores from one franchisor within a specific area. This type of franchising is popular, for instance, in the food industry. Entrepreneurs seeking a restaurant franchise will find a bounty of options. Similarly, multi-concept franchising involves more than one brand and works best if the concepts are related. For example, children’s hair care and family portrait studios are two concepts related enough to create synergy for each another.

Challenges of Multi-Unit and Multi-Concept franchises

As with any rewarding investment, there are a few challenges to take into account when considering a multi-unit or multi-concept franchise. First and foremost, choosing a good location is vital. Consider the surrounding area of a potential outlet. Going back to the restaurant franchise example, you might ask, are there plenty of retail businesses nearby? Obviously, an eatery would do well if located near a shopping center or strip mall where guests may be inclined to take a food break.

Another challenge common to first-time franchisers is micromanaging. Certainly, you have a vested interest in how each store functions but much of the responsibility should be placed on an infrastructure of managers you hire.

These individuals are responsible for the everyday operations of their stores and should be trusted to run these businesses as you would if you were working there each day. Hire managers to serve as an extension of you. They should believe in the franchise, working toward its success and most importantly, its growth. This is where you meet the first advantage of a multi-unit franchise business. If managers see the potential for growth, they consider themselves as being on a career path. The benefit for you here is that you are much more likely to have a dedicated management team for the long term.

Also, allowing each manager to assume responsibility of store operations allows him/her to put personal touches on that particular location. This gives the store the “feel” of a small business franchise, something most customers appreciate.

Of course, staffing is always problematic, but you can improve it by treating your managers and their staff members well. Again, growth potential encourages employees to stay with your franchise because they see a career path. They are also far less likely to seek employment elsewhere if they feel that their services are valued and their opinions respected. Many multi-unit and multi-concept franchisees meet with their managers regularly. Some even set up voluntary focus groups for subordinate employees to give them a chance to express any concerns.

Advantages of Multi-Unit and Multi-Concept franchise businesses

With the challenges come advantages that make multi-unit and multi-concept franchising worthwhile. One key advantage is that the risk is absorbed by several units or brands. With multiple stores, you do not have all your eggs in one basket, so to speak.

For example, if a local government suddenly plans road construction near one of your stores, sales will inevitably dip. Fortunately, your remaining outlets will not suffer. In fact, some of the business may simply be diverted to one of your other locations. Moreover, with a multi-concept franchise, you can spread the risk over several brands. If you operate a realty franchise, for instance, and the housing market experiences a low, it is unlikely that all stores and all brands will experience down time in the same period.

Furthermore, you will have access to more cash flow. Many multi-unit franchisees, for example, use the cash flow from other units to expand with additional units. And, the financial benefits do not stop there. You also have the option of reducing overhead costs by spreading them over several outlets, also gaining economies of scale.

In short, with multi-unit and multi-concept franchising, more capital becomes available. Meanwhile, franchisees running a single-unit are immersed in the details of managing a small business franchise.

Additionally, multi-unit franchises provide efficiency because of their potential for shared labor. Many employees are willing to take shifts at other locations, if needed; thus, the costs of hiring and training new personnel decrease. You also save money in other areas such as internal warehousing, distribution and advertising costs. If you operate a multi-concept franchise, you are far more likely to acquire special location and lease considerations from landlords. Most landlords prefer to work with multi-concept franchisees because they can subdivide larger areas. Your benefit is that they provide accommodation for all of your brands.

Building an Infrastructure for your franchise

First, consider any skills you may have. As mentioned, the most important attribute of a successful franchisee is an entrepreneurial spirit. However, if you have a degree in accounting, you may want to consider what you have to offer as you plan the infrastructure.

When planning your infrastructure, which should be designed to umbrella all units and brands, it is important to bear in mind how many staff members you will need to launch verses the number you will need to grow.

Starting with a large infrastructure will help the launch go much more smoothly. Otherwise, you may end up with a few people scrambling to meet the demands of a new business franchise.

However, there are significant downfalls to this method. For instance, having too many people in your infrastructure can lead to a breakdown of communication. Also, once all units and brands are up and running, you may find the costs of maintaining a large infrastructure to be too high and cutting back on personnel can reduce morale among remaining employees. Of course, the best way to solve this dilemma is to carefully plan and build the infrastructure slowly.

Choosing the best franchise opportunities

It is important to remember that there are many franchises for sale in today’s marketplace. Still, not all franchisors are equipped to support multiple units. This does not necessarily mean the franchisor is unsuccessful. Instead, it may simply mean that there is limited demand for a particular brand in your area. Or, the structure of the store might simply be geared toward a single-unit franchisee. This explains why it is always best to thoroughly research a franchisor before any agreements are made.

If you are considering a multi-concept franchise business, remember to carefully review the franchise agreements. Make sure your definition of a competing business matches that of each of your franchisors.

Most importantly, keep in mind that there are plenty of opportunities at your disposal. It is imperative that you research each prospect before investing your valuable time and money.