Almost all franchisors will provide you with some form of marketing material and/or training. But if the franchisor does not provide this, there are easy and cheap ways to market your business.
Cleaning and Maintenance franchise opportunities can be extremely rewarding. If you open a franchise in this industry, you’ll almost always reap the benefits of repeat customers and great profits. There are many different opportunities available to choose from, including: Sears, Merry Maids, Sure Step and EcoMaids. Take for example, Von Schrader Carpet & Upholstery Cleaning (video below). Von Schrader offers theses things to their franchisees: low-costs, no franchise fees, free marketing aids, and a risk-free money back guarantee.
Although there are tons of questions that you should keep in your arsenal, here are 5 questions we think you should ask before investing money into a franchise.
Investing time and money into a franchise opportunity is a major decision. Taking the time to sit down and thoroughly research each business is very important. Find something that you could see yourself happy doing. Same issues could turn into big issues, so finding one that has little to no conflict with you and your life is of the utmost importance.
Considering the Brand name could be, but doesn’t always have to be, a question you should discuss. A recognizable brand name, such as NAPA Auto Parts, is easier to recognize than lesser known brands. Having a business with a recognizable trademark/brand name makes marketing and connecting to customers that much easier.
You should also stop to think about how the brand will be received in the territory you want to do business in. Take for example the protests you may hear about concerning Wal-Mart or McDonald’s in smaller towns. Although Wal-Mart isn’t a franchise, it helps demonstrate that even though you may think people will want/need a certain type of business in their city, that’s not always the case. People are very vocal when they disapprove of a business.
Success rates are one of the easier ways to find out how healthy a business opportunity is. How many businesses are continuing to thrive? How many had issues and had to close their doors? Another great way to look into success rates is to talk with existing franchisees. When you meet with an existing franchisee, try to get their opinions on how the business is run. What is relationship like with the Franchisor? What kind of issues did they run into during their first year?
Almost all franchisors offer some type of training and support. It’s imperative to find a franchise that offers some kind of training program and support. You wouldn’t want to jump into a business opportunity without having the knowledge to make a profit would you?
There are many fees in business and knowing which ones you’ll be paying in important. Some of the fees involved are royalty fees and franchising fees. You’ll need to find out if these are by month, quarter, or year. Theses extra fees should be included when making a budget estimate for your first year in business.
There are blackouts everywhere, from Wikipedia to Reddit. SOPA and PIPA have caused quite the commotion.
As an entrepreneur, potential franchisee, or business owner, what effects do you think these Acts would have if passed? Do you think it would stunt the economic growth of America? Or do you agree with them as they are written?
We’d love to know your opinion! Take a minute and leave us a comment.
Veterans and anyone else who’s looking to learn more about running a franchised business should attend the Franchise Expo South in Miami Beach, January 20-22.
The franchise show will be free for veterans and $10 up front or $15 on-site for anyone else interested in learning more. Look forward to seminars on buying and operating franchises (an additional price). Lots of franchises to choose from; everyone from the UPS Store to No+Vello will be in exhibition.
Check out the Franchise Expo South website.
Think of your social media accounts (most likely you have a Twitter, Facebook, and YouTube page) as an extension of your franchise’s customer service. Before social media became popular, customers called or went back to the store to comment on services or products and resolve issues. But take a look at the social media accounts of some of the more popular brands in America. They use Twitter and Facebook as not only a viable solution for marketing but also to answer questions and concerns.
Being an entrepreneur isn’t something that a person typically learns. Being an entrepreneur is all about a state of mind and how a person reacts to different situations. Almost every situation in life has multiple outcomes, entrepreneurs are those that find the best alternative and run with it, even when someone is yelling “No!” Being an entrepreneur is all about taking an idea, a business, or a service and making it into a viable solution. Does this sound like you already?