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Franchises offer a lucrative and cost-effective alternative to starting your own small business. Rather than establishing your own niche in a particular market, you can lean on brand recognition and reputation to break into a market quickly. When you enter into a franchise agreement, you pay a fee for licensing products and services. If you’re interested in an online business, you may be required to pay a trademark fee to sell products through your own website.
Investigating Your Options in Franchise Opportunities
For many investors, the first step in finding a franchise is searching through the listings online. You’ll find countless opportunities with companies you know and products you use in your everyday life. Online directories often sort business opportunities by state and business type.
Whenever possible, it’s a good idea to pick a company with a corporate image or policies that match your ownpersonal philosophies Some companies are known for sustainable development or charity work. Others are known for cornering the market for quality or delivery times. As a general rule, it’s always a good idea to avoid franchises that offer fad services or health care products that have not been adequately researched.
Small business consulting firms often offer research tools and insight into market trends. A consulting service may help you compare terms and sort through the legalese of contracts and Financial Disclosure Documents. If you have any questions, you can always have a lawyer look over the contract before you sign anything.
Through consulting and training, Franchise Research Corp can build a custom tailored program..More
Between 2004 and 2005 over 300 new franchise concepts were launched in the US.
In today’s high growth franchising industry, 1 new franchise opens its doors every 8 minutes of every business day.
The execution of business requires a strategy and top talent.