Franchises by a Franchisee

Posted by BizPlanMentor under Franchises
From http://businessplanmentor.com 3912 days ago
Made Hot by: problogger78 on August 13, 2013 4:28 pm

As a former franchise owner (franchisee) I am able to bring you insider information and tremendous detail that you won’t find anywhere else. Get comfortable because this is an epic post. You will not find this level of detail anywhere else...

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Written by BizPlanMentor
3912 days ago

Hi Heather,

Excellent questions!

I would suggest that if a potential franchisee has no previous experience as a business owner, franchising might be a wise choice. They will have a network of fellow franchisees and the franchisors to turn to with their questions. They will have most items already set up for them (vendors, inventory, equipment, advertising, etc) so they are not stumbling around researching every little item.

Previous business owners who have had experience setting up a business might be better off starting a business from scratch. They would thus avoid the typically high franchise fees which can be anywhere from $5000 – $1,000,000.

An individual would likely know which category they fit into by evaluating their own comfort level. If they can afford the franchise (and there are many affordable franchises) and would like the fastest, easiest road to owning their own business, buying a franchise might be the way to go.

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Written by HeatherStone
3912 days ago

Thanks for your insights, Sylvia. And thanks for contributing to the BizSugar community.

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Written by HeatherStone
3912 days ago

Hi Sylvia,

A comprehensive post indeed. There's a lot here to digest for the potential franchisee seeking that next great opportunity. The question that always seems to get asked when evaluating franchising as a business option is how to decide whether franchising is right for you as a person. I was wondering if you had any insights. What kind of entrepreneur is more likely to be able to make the most out of a franchise opportunity and are there people who are better off starting a business from scratch? How do you tell which category you fit into?

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