Franchising expert tells people to focus on location

Posted on October 21, 2010 by Franchise Gator Admin

There are many ways for franchisees to find success with a chosen brand. The economy is no doubt going through some struggles currently, but no matter what the issue, the proven franchise system will more often than not bear fruit.

In a recent interview with Newsweek, franchising expert Roberta Hipes said that there were a few ways that those thinking about entering the world of franchising could ensure success. The first thing Hipes suggests is to think about a franchise that will be able to gain customers no matter the economic climate. Franchises that offer low prices to customers on products that are key to everyday life will find a leg up on those selling non-essential products.

She also suggests carefully scouting out locations.

"There are certain areas that will respond better to a product than others," said Hipes in an interview with the magazine. "Study the demographics of your target area, everything from age range to income brackets, to determine whether there are enough potential customers. You need to make sure there are enough people to support your business before you even think of opening it,” Hipes says.

Locations can be an important element in any business. Knowing where a franchise will succeed is nearly half the battle.