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Do yourself a huge favor and contact a Franexpert Franchise Development Specialist to help you thru the process of selecting the right franchise for you. Their services are absolutely FREE and will save you tons of time, money and headaches.
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A franchise is the agreement or license between two legally independent parties which grants the following:
A person or group (franchisee) the right to market a product or service using the trade name of another business. (franchisor)
The right to market a product or service using the operating methods of the franchisor.
The obligation to pay the franchisor fees for these rights
The franchisor has the obligation to provide rights and support to its franchisees.
What are some industries that currently utilize franchises?
Franchises come in all shapes, sizes and investments. They run the gamut of industries from cleaning franchises to senior care franchises.
Business format franchise – a franchise that not only includes a product or service and trademark but also the complete method to conduct the business including marketing and day to day operations.
The UFOC, also referred to as a “disclosure document” is a critical document within a franchise organization. The purpose of this document is to provide a prospective franchisee (one interested in owning a franchise) with detailed information about the franchise. All franchisor’s must register their UFOC with the Federal Trade Commission and provide prospective franchisees with exact copies.
While franchising is not for everyone there are several facts that show just how strong a franchised business model can be.
All good Franchise systems will require that Franchise Agreements are the same for all Franchisees. As a consequence, they will generally make the statement that the Franchise Agreement is a non-negotiable instrument.
I am fully confident in making the statement that there are many advantages to becoming a Franchisee in a good Franchise system. Of course, there are certain disadvantages as well, and each person must weigh their own dreams and desires in relation to what they want from their life. To many, the advantages will far outweigh the drawbacks.
Franchising is a strategy that the Franchisor uses to achieve its objectives, including market penetration and market domination. Franchises are granted or awarded to a qualifying Franchise Candidate that has similar objectives in their own marketplace.
While there are certainly legitimate reasons why a person may not become an entrepreneur, I will focus on a few of the main reasons cited by people that would like to begin a business but haven't made that leap.
'As soon as the mortgage is paid; as soon as the kids are done college; as soon as I get my buyout at work; as soon as I learn everything there is to know about it, as soon as 2 plus 2 plus 2 is 4. As soon as I am absolutely sure that this venture will have zero risk and my astounding success is guaranteed.' Again, these thoughts are absolutely paralyzing. They are very real thoughts, and most are perfectly legitimate thoughts, but only thoughts and not reality. However, as I said, they are paralyzing.
Owning a franchise can touch market shares that you may have never thought possible. We can help you find the franchise that best fits your needs. From a cleaning franchise to a senior care franchise, we can help you find the best fit for your needs.
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Dennis Schooley is the Founder of Schooley Mitchell Telecom Consultants, a Professional Services Franchise Company. He writes for publication in the subject areas of Franchising, and Technology for the Layman.
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