Franchise Industry Information

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Helpful facts about Franchising.

Why a franchise might be the right choice.

Although franchise companies account for only 8% of business outlets in the United States, they contribute a whopping 41% of the total sales volume! This number is predicted to grow to over 50% by 2007.

Factors that make Franchises a safer bet:

• Less Risk of the part of the Franchisee
• Franchises utilize a Proven Concept
• Brand Name Recognition is developed by other Franchisee system owners
• On-going Support Mentoring by experienced ‘old head’ franchisees
• Group Purchasing Power reduces product cost
• Camaraderie, without a Boss. You have someone in your same business to talk to
• On-going R&D programs by Franchisor
• Legal Compliance with state and federal statues
• Advertising is shared in a ‘Co-Op’ environment to reduce cost and increase brand recognition
• Real Estate and Location Selection assistance
• Marketing Help and Training
• Best Practices and Procedures Sharing among franchisees
• Equity Building in your own business within the system
• Franchisors are REGULATED by governmental agencies and must provide facts to you on their history, good and bad

Thinking about buying an existing business that is NOT a franchise?

Disadvantages of buying an Existing Business

• Higher cost than start-up in some cases
• Inherit image problems from potential past mismanagement
• Current employees may not be suitable for the job requiring restaffing
• Modernization of equipment or facilities may be necessary
• Existing debt service eats away profits
• Price may be to high for what business is really worth
• Business may have already peaked
• Inadequate location
• Competition may be entering the market
• P & L’s may not be accurate
• No regulation of information given to perspective buyers.