Wednesday 19th of November 2008
Welcome to the Frontpage
|
Facts about Franchise businesses in West Michigan. |
 |
 |
A recent Gallup poll of 994 franchise owners: produced the following snapshot of the field.
- 94% considered their franchises successful. (How many employees would say their companies were succeeding?)
- 75% said they'd "do it all again". (Most employees seem dissatisfied with their work, pay and prospects for advancement.)
- 6% reported unhappiness with their franchisor (No industry is perfect, but the media’s reporting of unfairness seems overrated.)
- The average pre-tax income was $124,290. (Well above average salaries for any industry I've found!!)
These poll results arise from one fact---Franchising Works!!
More Choice Franchises Facts.
Total Gross Sales through Franchised businesses exceed $800 BILLION!
That's over 40% of all U.S. retail sales & services!! There are over 8 Million workers employed in 100 franchised industries.
A NEW FRANCHISE OPENS EVERY 8 MINUTES OF EACH BUSINESS DAY!
A total of over 40,000 new franchises open in most years. In addition, studies prove that franchises survive! Government studies show that 77% of independent businesses close their doors within 5 years of opening. Only 8% of franchises close in the same time period. That's only 10% the failure rate of independents!! Thanks Alan Teelander (616-723-8511) |
|
|
The Grand Rapids and West Michigan Franchise Advantage. |
|
|
|
1. The Franchise Sales Person will tell you that you will be choosing Your Own Job Description. When you are the owner, you can delegate certain aspects of the business to others and create a job description that suits your personality, skills and interests. Naturally, the industry you choose and the size of your operation will affect your flexibility in this area. "There are numerous benefits of owning your own franchise." This wording is also a strong indicator to you that you will be subject to an upline. You will also be building someone else's business and paying them a royalty to do so. Visit www.greatlakesceo.com for information on how you can be the person others make money for. 2. The Franchise Sales Person will tell you that you will be controlling Your Future. Grand Rapids, Michigan Business owners live the scripture "You reap what you sow." You can budget your work schedule against family needs and recreation--if you're willing to share some profits with additional employees. The salesperson will not be telling you that you will be working in the business and not on it. There is a difference and the wealthy know it. The person who developed the franchise knows it and you are buying your next job from them. |
|
Read more...
|
|
THE UNIFORM FRANCHISE OFFERING CIRCULAR |
|
|
|
The franchise disclosure document is usually a thick, 50+ page document that seems imposing. It contains a great amount of information about the company allowing you to become familiar with the details of your future relationship. This document answers many questions. Who is the Franchisor? Lists the principals of the company and their business background as well as the history of the venture. What is the Offering? Exactly what is being offered? This section describes the length of the agreement, territory, responsibilities, opportunities, etc. How Much Will it Cost? Initial fees, royalties, advertising fees, start-up costs for equipment, and working capital are covered. What Does the Company Promise? Will they train? Develop training materials, ad programs, generate accounts??? What do you promise? Most franchisors will restrict your activities to prevent you from using their system without paying royalties, during and after the agreement ends. Financial History of the Franchisor. Is the company stable? |
|
Read more...
|
|
|
Common Franchise Business Mistakes. |
|
|
|
Talking with thousands of franchise buyers and owners has revealed many common mistakes that kept them from reaching the best decision for their situation. Here are the most common:Common mistakes Don't make these franchise mistakes. 1. A great industry assures your success. Some franchisors point out how large an industry segment they address. While it's generally important that you are addressing a growing market, this alone will not make you succeed. The franchisor's training, marketing plan, site selection, how you implement their plan and many other factors will be more important to your success than just the size and growth trend of the industry served. 2. I can open my franchise for less than the franchisor predicts. Don't mislead your franchisor. If you are overly optimistic and undercapitalized you may be doomed to failure--through no fault of your franchisor. |
|
Read more...
|
|
Business Questions Concerning Franchises. |
|
|
|
To help you approach franchisees in the network you're hoping to join, we've prepared several "starter" questions. Franchisee Questions to ask as you do your due-dilligence. 1. How long have you owned your unit? 2. What did you do before? 3. What activities consume your normal day? 4. Do sales & profits compare favorably with your expectations? 5. Do you earn more now than on your last job? 6. How effective is the franchisor's training? Start-up assistance? On-going help? 7. Would you consider selling? For how much? |
|
Read more...
|
|
|
Powered by Joomla!.
Designed by: Joomla 1.5 Template, web hosting. Valid XHTML and CSS.
