Franchise Sizzle!
The Franchise and Biz Op Blog

There are many reasons for leaving the security of a career behind and moving on to a franchise. While some franchisees have had a lifelong dream of owning their own business, many of them are get to this point only after working a regular job for some time.

Here´s what Sire has to say about this:

There comes a time in a lot of peoples lives when they have just about had enough of working for someone else. They would love to work for themselves but are just not sure how to go about it. Some may start a new business and others may decide to buy an existing one. A lot though will contemplate about purchasing a franchise.

For many, going the franchise way is a better option than starting a business from scratch. If you´ve been working in an office for the past 20 years, you may not feel equipped to set up your own business. A franchise offers more security than a business built from scratch and offers the opportunity for the franchise investor to get started quickly.

Franchises offer the opportunity to break away from your boring day job and start earning a living quickly, without the years necessary to build a business from scratch. It can be a very good move if you are sick of working for the man and want to move on to something more fulfilling and with more potential. Franchise opportunities are so varied that you are bound to find one that you are interested in.

Many people confuse business opportunities with franchise opportunities, but the reality is that the two are quite different. While franchise opportunities are usually very strictly regulated and require paying a regular fee to continue using the franchise name and brand.

Business opportunities, on the other hand, are available for a one time fee and offer far more freedom. While you won´t necessarily have the ongoing support that is available with a franchise, you will definitely have the option of continuing your business no matter what. This can be an issue with some franchises . . . if they go out of business, you are unable to continue with your individual part.

For those who just can´t stomach paying franchise fees and following strict rules for the lifespan of their business, a business opportunity is definitely a better option. There is a good selection of business opportunities to choose from, as well, so you aren´t terribly limited by leaning away from a franchise.

With a business op, you´ll likely end up paying more up front, but this comes with the extra freedom to do as you please with your business. Make sure you read any and all paperwork thoroughly, though. You need to be fully aware of all restrictions and stipulations made by the business before you sign a contract.

Business opportunities are quite different from franchises. You may find that one model works better for you, so look at the advantages and disadvantages of both before making a decision.

Not everyone has great credit and if you are looking at franchise opportunities longingly and wishing you had better credit . . . it´s time to make your dream a reality. You can´t magically improve your credit rating and most banks won´t be interested in financing you.

However, there is an upside. If you want to finance your franchise, you can often qualify for a microloan. These loans are fairly small, but they can help you cover the initial investment, particularly if you are going for a low fee franchise opportunity.

You will want to talk to a microlender to find out what your options are. In general, they will charge a higher interest rate than a regular bank loan, but if you really want to have your franchise and are confident that it will help you rise above your bad credit, then it will often be worth it.

Just because you don´t have the best credit doesn´t mean you can´t invest in a franchise. It just takes some extra investigation. Find a microlender that you can trust and make sure you speak with the franchise ahead of time to make sure they are ok with your credit history. Then you should be able to proceed as normal.

Franchises make starting a business easy at any age. There´s absolutely no reason why franchise opportunities can´t be ideal for those over the average business age. In fact, it´s a great way to get started in a business without wasting months or even years building your business up to the point of earning a profit.

Instead, you get a business plan that works, complete with a developed brand and strategies that have already been proven. Not to mention all the support you can handle. This, combined with the training that most franchise opportunities provide means you have a very good chance of making the business successful fairly quickly.

This rapid start means that you can actually begin at any age. Even if you aren´t familiar with the industry, it´s usually fairly easy to learn all you need to know via franchise training sessions. These will familiarize you with the industry and prepare you for the life of a franchisee in the industry of your choice.

Just because you´re older doesn´t mean you can´t get into franchises. In fact, this could be the best opportunity you have to set up a business quickly and start earning relatively soon. It´s a great way to ensure you make the most of your life.

Computer franchises are huge. It´s hard to believe that just 3 decades ago, a home computer wasn´t even possible yet . . . and now everyone has one! With internet and the ability to connect with anyone anywhere in the world, computers have become a central focus for many people. Whether they work on their computer or just play and reconnect with old friends and family members, computers are a vital part of our society. So it stands to reason that franchise opportunities dealing with computers are a good investment.

If you are comfortable with computers and the internet, it shouldn´t be too big a leap to go from simply using them to providing computer services within the business plan of a franchise. You´ll find that it is a great, flexible type of franchise in most cases and with the support and training provided, it´s quite possible to be very successful in a short amount of time.

There are franchise opportunities for everything from computer repair to providing internet service to your clients and everything in between. If you´re looking for a computer related business, these are the franchises to check out since they are definitely on the rise and in great demand.

Franchise opportunities are not for everyone. In fact, some people would be far better off not investing in a franchise at all, as they are going to be more prone to problems and possibly failure. How do you know when a franchise is a bad idea for you?

• You aren´t a take control person. If you aren´t comfortable being in charge, you won´t be comfortable running a franchise. It´s true that the franchise company offers support and will walk you through the process, but at the end of the day, it´s you who will be in control.

• You hate taking orders. If you want to make your own rules, chances are a franchise is not for you. You´ll be required to stick to the plan set out by the franchise company and though there are definitely some that offer more rope than others, most people who are against authority prefer to start their own business.

• The franchise is a bad one. How do you know if it´s a dud? By checking with the Better Business Bureau. They´ll be able to alert you to any complaints lodged against a particular franchise business, but make sure you check with the BBB in the state the franchise is based in.

Franchises are a great idea for the majority of people, but there are definitely a few who are not cut out to run a franchise. If you are one of them, you don´t want to throw your money away investing in something that will likely not work for you. However, if you aren´t either of the people listed above, then chances are a franchise opportunity would be just right for you!

When researching a franchise opportunity, it´s very important to look at some specific areas of the franchise. This will let you know if the opportunity is right for you and whether or not the franchise will work in your area.

Need. Is there a need for this type of business in your area? If there isn´t a demand, you´ll find that your franchise opportunity fizzles out and dies. It´s pretty hard to make a go of it with a business that no one is interested in.

Training. What is the training schedule like? A good franchise will give you full on training, not just a manual or something simple like this. On-site training at an existing franchises or in a special training facility is often the best.

Support. Ongoing support and aid when you need it is invaluable in a franchise and one of the main reasons to opt for a franchise, rather than starting up your own business. With support, you´ll be able to solve problems quickly and easily.

Growth. How fast is the franchise growing? Knowing as much as you can about the past of the franchise is a great way to get a feel for where it´s going. A new franchise is going to have very little history, of course, but with longer lasting ones, you´ll see whether the franchise is in demand or not.

Competition. Is there a lot of competition in your area? If so, you´ll want to make sure that the franchise you are going with has something very different or special to offer . . . otherwise, it will be a hard go.

Make sure you research any franchise you are interested in thoroughly. You wouldn´t jump into starting your own business in no time flat and you don´t want to do the same with a franchise.

Pet franchises are an excellent way to get into one of the fastest growing industries in the US, increasing about 6% per year, which is big for any industry. Americans spend an average of 36 billion dollars a year on their pets . . . that´s something that pet franchises tap into, giving you a great way to earn more while providing a useful service.

With over 63% of American households including at least one pet, there is more than enough demand for the services provided by franchise opportunities like Pet Butler, a pet waste management business. Other franchises cater to the more delicate side of pets, with mobile pet salons and luxury hotels for animals who need a place to stay while their humans are on vacation.

People are having children later and later in life, if at all and that gives rise to treating their pets like children, buying them expensive clothing, toys and organic food. But while these pampered pets have humans with lots of money, they don´t have a lot of time, which is where animal care franchises come in.

Services like Pet Butler save owners time. When you start up with a franchise like this, you´ll be helping pet owners do what they love to do best . . . spoil their pets!

Many working parents, both mothers and fathers, dream of being able to work from home to spend more time with their children and franchises offer the perfect opportunity to do just that. Obviously, not all franchise options are ideal for parents. There are many that require long hours and are not child-friendly in the least. But that leaves a lot of them that still work just fine for families.

Home based franchise opportunities are obviously the best suited to parents with children at home. It´s often quite effective to have both parents working in the business, so choose a franchise opportunity that both will enjoy working with.

Working from home offers many challenges, so be sure that you talk to other work at home parents first to find out what you´re in for. It´s important to plan for childcare, despite being able to be at home with your children, you´ll need to plan for adequate, uninterrupted time to work, as well. This is where having both parents alternating can be very helpful.

Not all family friendly franchises are home based. You can also find other types of franchises that work well for parents, such as programs that work within school hours, etc. Take a good look at the opportunities that are available to you and measure them against your needs as parents before investing.

Many people wonder why they ought to be thinking about going with a franchise, as opposed to building up their own business. The truth is, franchises aren´t for everyone. If you can´t abide by rules and regulations and want something that you control 100%, then franchises aren´t for you. They are often strictly structured, because the franchise company has already researched and tested and found what works and they want you to be successful.

Advantages of Franchises Over Business from Scratch

• Faster to get off the ground, since all the groundwork is done for you.
• Training is provided, making the learning curve quite steep.
• You can get started in an industry that you have little or no knowledge of without problems.
• There is always support if you need it.
• Financing is easier to get with a franchise, since they have a proven track record.
• Your investment includes a recognized brand.
• Nationwide promotion benefits your individual business.
• The heavy legwork (finding suppliers, machinery, etc.) has already been done for you.
• You can talk to other franchisees ahead of time to get a feel for the business.

That doesn´t mean that starting your very own business is a bad idea, but it is worth taking a serious look at franchise opportunities before you completely dismiss them! A franchise could easily have you up and earning income in just a few months, where the majority of businesses take one to two years to begin earning an income.