Franchise opportunities are everywhere. They can be seen on online ads, TV commercials, business magazines like Entrepreneurship and newspapers. Today, let us find out how to spot a good franchise for sale and what to do after you buy a business for sale. Afterwards, you can post your business franchise for sale using the comment box.
A franchise simply means having the rights or being an authorized person to sell company’s products or services. There is an agreement between the franchisee and the franchisor for using trademarks or business names and have the right to sell the company’s products or services. A business that are in operation under a franchise arrangement is called a chain store, a franchise outlet, or simply called as “franchise”.See Also: How to Know Online Stores that Accept Paypal?
How Does Franchising Works?
Say for example, you want to have your own business, a coffee shop. You don’t have any idea how to start. Your best thing to do is to open a coffee franchise to one of the most successful in selling coffee; like Starbucks. The Starbucks will give you the rights to use their logo and their name and the authority to sell their products and services.
Note: This is just a simple explanation on how does franchising works. You have to search and investigate if Starbucks will sell franchise or not.
Why Starbucks? It is not just because it is popular. You have the greater chance that your business will become successful because people knows Starbucks because of high quality services and products. People love to talk with their friends while drinking coffee in the Starbucks and sometimes their customers are there for “great tasting coffee” and free wifi.
Hint: When chasing or spotting franchise opportunities, you have to find out how successful a company is. Is the company is the leading business in the industry, is it new, is it proven, well-known?
Low Cost Franchise Opportunities Matters
Ask yourself, are you willing to invest thousands of dollars just to have the rights to use the logo, the business name and sell other company’s products and services? Which do you think is the best? Buying McDonald franchise or buying Starbucks franchise? Or if you have one million dollars right now, will you start your own company or just buy a business?
Low cost franchise really matters. If you decide to start your own business and not buying a franchise, make sure you can beat your competitors. Otherwise, buying a franchise can be a good idea. Also remember, cheap franchises can be risky. Cheap franchises are cheap because the business is just starting out. Try to compare the franchise fee of McDonald or Starbucks to other newly businesses that are selling franchises.
Starbucks Franchise International? No Problem
Maybe you asked, how can I buy Starbucks franchise if I am from Europe since the main office is in the United States? To whom should I talk about my plan in buying Starbucks franchise?
Getting Franchise Information
There are many ways to get franchise information. Whether you want to buy a McDonald franchise or Starbucks franchise and you want to know how much money do you really need when opening up your own store, follow this simple way on how to get information and exact information when buying a franchise
- Visit the official website of the company. You can search and find out if the companies is offering franchise opportunities. Like for example, if you want to know about Starbucks, visit http://investor.starbucks.com/
- Visit the main office in your country. Starbucks has international branches. Get franchise information from the branch. Ask the branch manager or the franchise owner on how did he or she get started in selling Starbucks in the area.
- Readings blogs and forums will give you few information when buying a franchise. Just go to google.com and search “company name + franchise opportunities”. Example: “Starbucks Franchise for Sale” or “McDonald’s Franchise for Sale”.
Buying a franchise can be a lot of task. Maybe buying a franchise will be worth if depending on the name, products and services of the company. Like in our example, McDonalds and Starbucks, these are the leaders in their own industry. Hamburgers, french fries, coffee with a good ambiance? People know these two brand names.
What do you think? Will you buy business franchise for sale or will you just start your own business. Do you prefer to start your own brand or will you just use the most popular brand. The old saying ” don’t reinvent the wheel” may apply in franchising. Why should you start a hamburger business if you can buy McDonald franchise? Now, you know the basics of franchising. Leave a comment if you have any other questions.See Also: Getting Out of the Rat Race Useful eBook from Rich Dad (Free)