We searched the web for the best
franchise opportunities in the US at reasonable costs and selected the
(for us) most interesting franchise offers in the following areas:
In order to get a ranking of the
companies, we considered:
-
Growth Rate of the last two years
-
Originality of the business idea
-
International presence
-
Reputation and market presence of
the business
-
Startup costs
The presented companies may not be
representative for the whole franchise market in the US as businesses
with high startup costs were not considered in the evaluation. The
presented lists do not intend to endorse, advertise or recommend any
particulate franchise. We strongly recommend to analyze each business
opportunity in detail before you take a decision.
Basic questions to ask before taking a decision:
-
What is the total investment I need?
-
What are the initial fees (franchise fees)?
-
What are the monthly Royalty Fees (derived as a
percentage of the work performed)?
-
How much money do you want to invest (risk
capital – without breaking the bank)
-
Has the proposed franchise business a good
reputation?
-
Do I need a built-out retail location or is it
possible to run the business from my home?
-
Is the business an exit also in other countries?
-
Is the franchise business registered in your
state/country? – ask for the Uniform Franchise Offering
Circular (UFOC)
-
How is business performance (ask your accountant
to help you examine the franchiser's audited financial
statements in the UFOC)?
-
How much money are other franchisees making with
this franchise business? Talk to as many as possible of
them (there are no franchise laws restricting them to
give you this information)! Consider different
performance levels according to location, management
capacity, overhead, business years or other factors that
might influence the performance. If possible, also talk
to former franchisees that decided to leave the
business.
-
Is the proposed business the right fit for me?
See 2-Approach Guide: Career
Assessment
|
Detailed information on the factors
you need to consider in the decision of buying a franchise you find in
the books
Franchising 101,
published by
The Association of
Small Business Development Centers and
Home Businesses You Can Buy
by
Paul and
Sarah Edwards
and
Walter Zooi.
We highly recommend these best-selling books as they contain information
on franchising you won’t find in the Internet.
You need to learn as much as possible about this type of business before
you take a decision, even if the startup costs are not very high.
For a basic introduction to franchising click
here.
Internet Sources:
top of page
back to Approach #2 -
Career Assessment Guide
Books about
Franchise
Franchise
Introduction
|
