{"id":3275,"date":"2008-08-19T08:14:00","date_gmt":"2008-08-19T13:14:00","guid":{"rendered":"http:\/\/magic1host.com\/blog\/2008\/08\/19\/finding-a-franchise\/"},"modified":"2008-08-19T08:14:00","modified_gmt":"2008-08-19T13:14:00","slug":"finding-a-franchise","status":"publish","type":"post","link":"https:\/\/magic1host.com\/blog\/?p=3275","title":{"rendered":"Finding A Franchise"},"content":{"rendered":"
by Amy Nutt<\/div>\n

The decision to buy a moving franchise<\/a> is one that requires a lot of thought and quality research to ensure you don’t regret the commitment two years into a long-term contract. There are a number of questions you need to ask yourself and the franchisors (sellers) to determine which business is right for you.<\/p>\n

The first part to determining the right franchise fit is to look at what kind of a person you are. Ask yourself the following questions:<\/p>\n

– What interests, hobbies and passions do I have? Is there a franchise available in my area of interest? There are so many different franchise opportunities available across a whole range of business sectors. Look for the area that suits your personality. You will be making a big investment of time, money and energy so you want to be able to enjoy the business you buy.<\/p>\n

– How much capital do I have behind me and what start-up costs can I afford? There is no point researching franchises that are financially beyond your means. Be realistic about your budget and stick to it.<\/p>\n

– How many hours a week do I want to work? What days of the week do I want to work? When you buy a franchise you must commit to being open during the hours that the franchisor (seller) dictates. Find a situation that suits your needs as well as the needs of the company.<\/p>\n

Finally, ask your family what expectations they have from a franchise, and what (if anything) they plan to contribute to the business.<\/p>\n

Investigating The Franchisor<\/p>\n

The second part to finding the right franchise requires you to ask tough questions of the franchisor. This is a person you will be in a business relationship<\/a> with for a long time; be thorough in your investigation of them and their business practices. Ideally they should furnish you with a Franchise Prospectus when you first express interest in the company.<\/p>\n

This prospectus should tell you: – What kind of franchise it is and what type of agreement you will have with the franchisor. – Who the Directors are and what business experience they have. – The company’s financial track record. – Start-up costs and any other costs to be paid by the franchisee (you). – Any restrictions on activities of the franchisee. – Success rates and numbers of current franchisees. – What kind of training and support the franchisor will provide. – What rights the franchisor has to choose or approve sites for your business. – Terms of the business agreement in regards to termination and renewal procedures. – Financial information about original company location. – Banking information and professional associate list.<\/p>\n

Questions to ask the franchisor: – How long have they been in business? How long have they been franchising? – Can you talk<\/a> to existing franchisees to ask questions about the business? – Where does their main source of revenue come from? – What financial state is the company in? Ask for bank references. – What territory can you operate in? Do you have exclusive rights to that area? – Is training included? – What are the advertising terms and conditions? – What are the ongoing royalties and service costs? – What capital is required and what are the realistic profit projections? – How many other franchisees are there? – Do they have any legal cases against them? – How long will the franchise agreements last?<\/p>\n

This list is not exhaustive. Ask as many questions as you can to ensure you invest your money wisely and have many years of good business relations with your franchisor.<\/p>\n

\n
About the Author:<\/div>\n
Franchise opportunity in Texas<\/a> offers new and recycled boxes and other moving franchise<\/a> supplies.<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

The decision to buy a moving franchise<\/a> is one that requires a lot of thought and quality research to ensure you don’t regret the commitment two years into a long-term contract. There are a number of questions you need to ask yourself and the franchisors (sellers) to determine which business is right for you.<\/p>\n","protected":false},"author":82,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[84],"class_list":["post-3275","post","type-post","status-publish","format-standard","hentry","category-entrepreneurs","tag-entrepreneurs"],"_links":{"self":[{"href":"https:\/\/magic1host.com\/blog\/index.php?rest_route=\/wp\/v2\/posts\/3275","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/magic1host.com\/blog\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/magic1host.com\/blog\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/magic1host.com\/blog\/index.php?rest_route=\/wp\/v2\/users\/82"}],"replies":[{"embeddable":true,"href":"https:\/\/magic1host.com\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=3275"}],"version-history":[{"count":0,"href":"https:\/\/magic1host.com\/blog\/index.php?rest_route=\/wp\/v2\/posts\/3275\/revisions"}],"wp:attachment":[{"href":"https:\/\/magic1host.com\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=3275"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/magic1host.com\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=3275"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/magic1host.com\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=3275"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}