Franchising is a method of leasing the brand, expertise and experience of a business by the Franchisor to the Franchisee for a fee so that both of them can mutually benefit from a proven business model. (1) the Franchisor, who establishes the brand’s trademark or trade name and a business system; and (2) the franchisee, who pays to the Franchisor a Initial Fee (to get the training and initial setup) and Royalty (usually a percentage of sales) and in return gets to use Franchisor's name, the continuous guidance and brand improvement from the Franchisor. Technically, the contract binding the two parties is the “Franchise,” but that term is often used to mean the actual business that the franchisee operates.
Good Franchisors provide systems, tools and support so that their franchisees have the ability to live up to the system’s brand standards and ensure customer satisfaction. And, Franchisors and all of the other franchisees expect that you will independently manage the day-to-day operation of your businesses so that you will enhance the reputation of the company in your market area.
When selecting a franchise system to invest in, you want to evaluate the types of support you will be provided and how well the Franchisor is managing the evolution of the products and services so that it keeps up with changing consumer expectations. Some of the more common services that Franchisors provide to franchisees include:
a) A recognized brand name,
b) Site selection and site development assistance
c) Training for you and your management team
d) Research and development of new products and services
e) Headquarters and field support
f) Initial and continuing marketing and advertising.
Owning your own business puts you in control of your own future. But it’s also difficult to do it all by yourself. Initially when you start your business, you have to handle all aspects of the business such as; setting it up properly, identifying your target customers and markets, designing and building your own products or services, defining all the processes, establishing relationships with right vendors, doing your own marketing and sales efforts, handling employee and customer issues, doing your accounting and book-keeping and finally make profit. If you do not do any one of these activities correctly, then you are at risk of not only making any profit but also prone to lawsuits and liabilities. By the time you figure out all these, it may take years and by this time you might exhaust your money, resources and energy and may give up. That's why a large portion of small business fail in the first few years.
On the other hand, when you buy a franchise, all the above mentioned activities are tried and tested by the Franchisor and you will have a proven system to evaluate. Franchisor offers support, experience, and knowledge to all aspects of the business. They have been there so they know what challenges will arise and the best way to overcome them. When you join a franchise, you get to “stand on the shoulders” of all those who came before you.
Franchisor provide you all the tools to be successful. They will train you prior to your opening. They give you advertising and marketing support that builds your business. Most importantly, they reduce your risk because the system has already been proven to work. Their training and support insure that you will be able to handle whatever comes up along the way.
The best analogy is like building a house. In today's world, you can get all the materials and guides necessary to build a house. But if you never built a house before, would you attempt to build it yourself ? No right. You would look for a reputed builder or a contractor to build your house right ? It is the same thing buying a Franchise business. Franchisor is like your experienced builder or contractor who helps you build your business.
Just like you pay the builder/contractor his fee for his expertise and experience, you pay Franchisor for their experience, expertise and proven methods etc, so that you don't have to reinvent the wheel and with their proven methods you tread the path of success and realize your dreams quickly.
Just like any other important decision in your life, especially involving large amount of money and commitment, you need a guide/advisor/consultant to guide and help you with the process. The analogy is similar to asking;
Why do you need a teacher for your kid when you can just buy them bunch of books or search reading materials on the internet ?
Why do you need a doctor when you can search about your symptoms and treat yourselves ?
I think you understood the point. Buying a Franchise is one of the most important and a long term decision for you. It is not like you a buying a $100 item on Amazon, try it and return it if you don't like it. You are investing a lot of money based on a concept and you will be tied into this for a long haul.
We use our industry experience to give you all the information you need while you are buying a franchise business. We know which franchises are the least risky, most reliable, and most profitable in the business. We also know which are available in your area or help you to select the most profitable territories. Most importantly, we can help you determine which franchises are the best fit for your role as the owner...something that is sometimes a challenge if you are only used to looking at a business from the customer’s point of view. If you are outside this industry, this kind of knowledge could take several months to gather.
So treading that process carefully and with the help of a trained and experienced Franchise Consultants will not only help you to avoid costly mistakes but also can help you to reach your goals sooner.
Even though we told you the benefits of using a Franchise Consultant, we need to caution you that there are lot of people out there who claim to be Franchise Consultants / Advisors / Brokers etc but do not have a clue about the franchise business and its inner workings. There are some good ones though but most of them are not. Therefore you need to be very careful about whom you are dealing with. They can make or break your franchise business.
Please refer to our Franchise Consultation Service to know:
a) Our Value
b) Our commitment
You will NOT BE CHARGED anything more by the Franchisor for using our service. This is a federally regulated industry. Franchisor has to charge just the published price and cannot charge someone more or less than others. You will pay the same fees even if you go directly to the Franchisor. Franchisor cannot charge you extra for using a Franchise Consultant.
For Franchisors, finding the right franchisees is a very difficult job. They have to spend a lot of time, effort and resources to find the right candidates. It costs them a lot to hire staff to do that job and that too without any guaranteed results.
Therefore Franchisors prefer to use good knowledgeable consultants like us and respect the processes we follow. They recognize the quality of the leads we bring to them and are happy to pay for our service contingent upon franchisee buying the franchise. A franchise consultant/broker is uniquely able to provide a win-win scenario for the both the Franchisee and the Franchisor.
In today's world, there is a franchise in every field imaginable. There are franchises which fit every taste, need or budget.
Here are some of the areas in which there are good franchises;
Advertising, Automotive, Beauty &Tanning, Boutique Specialty Retail, Building & Decorating, Business Services, Child Education, Child Services, Cleaning, Computer Technology, Distribution, Dry Cleaning, Entertainment, Event Planning, Financial Services, Fitness & Wellness, Food & Beverage, Health & Medical, Home Improvement, Hotels & Lodging, Maintenance & Repairs, Management & Training, Moving & Storage, Painting, Pest Control, Pet Care, Print, Copy & Mail, Professional Services, Real Estate & Investing, Restoration, Retail, Security, Senior Care, Signs, Sports & Recreation, Staffing, Travel, Vending etc
It all depends what type of franchise you want to get, location, size, etc. There are some low-investment franchises which you can work from your home by yourself on your spare time for around $10 K to ones which need a big location, staff and big investment up to $1.5 Million dollars. Please contact us and we can find a franchise which fits your needs and budget.
If you want financing for your Franchise purchase please check out our Franchise Funding Solutions
Funding your purchase of a franchise is nearly always a major consideration for business owners. Too often, businesses simply don’t have enough capital to help them start-up a new business. We feel it is critical to discuss financing issues early so any problems can be addressed during investigation and research steps of the process.
If you want financing for your Franchise purchase please check out our Franchise Funding Solutions
Not necessarily, lot of Franchisors understand that people who want to start new franchises are new to the business world and they are happy to work with them.
Franchisors are looking for transferable skills. They want people who can motivate employees, close sales, or manage efficient operations. They do not want their owners doing the labor, but running the business. Typically in this equation, the franchisee is the manager not the labor.
It varies. If you are motivated, you can complete the franchise consultation process in a few days fairly simply. Most clients can find a great opportunity in anywhere from 1 to 3 months. Once you have purchased your opportunity, it can range from as little as 2 weeks up to 6 or more months to get the business going.
Yes, there are franchises which satisfy EB-5 visa requirements and if you invest in one of those franchises you can apply for a EB-5 Visa. Most of the countries citizens qualify for this program.
We can not only recommend franchises which qualify for this visa, but we can also refer to attorneys who can help you with that process.
Yes, there are franchises which satisfy E-2 visa requirements and if you invest in one of those franchises you can apply for a E2 Visa. Only some countries qualify for this visa.
We can not only recommend franchises which qualify for this visa, but we can also refer to attorneys who can help you with that process.
Please contact us for more details.
At the time of this writing, these country citizens can apply for E-2 visa.
Albania, Argentina, Armenia, Australia, Austria, Azerbaijan, Bahrain, Bangladesh, Belgium, Bolivia, Bosnia and Herzegovina, Bulgaria, Cameroon, Canada, Chile, China (Taiwan), Colombia, Congo, Costa Rica. Croatia. Czech Republic, Denmark (excluding Greenland), Ecuador, Egypt. Estonia, Ethiopia, Finland, France, Georgia, Germany, Grenada, Honduras, Iran, Ireland, Italy, Jamaica, Japan, Jordan, Kazakhstan, South Korea, Kosovo, Kyrgyzstan, Latvia, Liberia, Lithuania, Luxembourg, Macedonia, Mexico, Moldova, Mongolia, ontenegro, Morocco, Netherlands, Norway, Oman, Pakistan, Panama, Paraguay, Philippines, Poland, Romania, Serbia, Senegal, Singapore Slovak Republic, Slovenia, Spain, Sri Lanka, Suriname, Sweden, Switzerland, Thailand, Togo, Trinidad & Tobago, Tunisia, Turkey, Ukraine, United Kingdom, Yugoslavia