My Business Guide

Franchising has become one of the most important and effective business growth strategies in the past quarter century. Although franchise system development dates back centuries to the times when monarchs awarded territories to tax collectors, current franchise business systems date back decades to the Singer Sewing Machine strategy of granting rights to individual business people to sell Singer products in various regions.

Business Home Internet A Franchise strategy allows the Franchisor to penetrate, develop, and dominate markets on a simultaneous basis. A Franchise system also allows for each individual Franchisee to own their very own business, and yet participate in, and garner value from, a proven Franchise system.

Business Mlm Opportunity A good Franchise system allows the Franchise Company to gain market share quickly, which serves as a barrier to competition, and helps build the Brand, which in turn creates exponential value for all stakeholders - including each Franchisee.

Our franchise business opportunity for sale offers a contract term for 10 years with a right to renew. The franchise fee for a Batteries Plus store is $35, 000. Franchise available locations include single and multiple units still available in key markets. Franchise available markets can be searched here.

Based Business Home Income So how do you identify a good Franchise system? Well it makes sense that if you want to find out about strategies, culture, and compatibility, then you should ask the right questions. The answers can then be assessed to determine if the fit is right.

Hartland, Wis.-based Batteries Plus opened its first store in 1988 and now has more than 250 stores operating from coast to coast. StartupJournal.com, The Wall Street Journal's guide for entrepreneurs, performing franchise brands that conduct business in the United States. Bhinder's journey to franchise business ownership has been long. Bhinder, 43, immigrated in 1990 to the United States from India, where he was a teacher.

Based Business Home Internet The following discussion covers five questions that should always be asked by the Franchise Candidate. If a Franchisor is either unwilling, or unprepared, to answer these questions, it should be a strong indicator that the fit may not be right.

Looking over our list as it stood, we eliminated two more franchises. One we dropped because it was extending its franchise only in rural markets and through existing businesses under a cobranding arrangement. Another franchise with more than 700 units had a net growth in units of only 20 in the past five years; we thought readers would want to see franchises with more active expansion plans.

Business Homebased Opportunity How Big Is The Market?

As a franchise business, we are regulated as to how an earnings claim can be communicated. Batteries Plus can provide this to you in written form in the Uniform Franchise Offering Circular (UFOC). To obtain the UFOC, please complete the franchise opportunity qualification questionnaire located on the Next Steps page. Thank you.

Based Business Home Mlm The Franchisor should have a good handle on the available market for the product or service that you will be offering as a Franchisee. Presumably the Franchisor has done extensive research on the current market size, as well as the potential market size for the future.

Business New Opportunity The Franchisor should be willing to share that information with you so you can assess the data to make sure that the opportunity is going to be of sufficient size to satisfy your own goals. You may have to sign a non-disclosure agreement first, but the information is important to you, so it must be assessed. The whole idea of Franchising is to ensure that the goals and dreams of the Franchisee, and those of the Franchisor, are unified. If the market availability will allow for strategies to be implemented by you, which are consistent with your goals, and those penetration goals are congruent with the Franchisor's goals, then all is good.

Business Home Online If it's a long-standing and stable market, then there should be plenty of statistics to back up that conclusion. If it's a new and burgeoning market, there should be analysis that you can assess to give you a comfort level that you, together with Franchisor, can go get a significant share. If it's a fad market, or limited life market, then the strategies should reflect that, as should the agreements.

Best Business Home Opportunity The caution is that if the Franchisor is wishy-washy about the market, or is unwilling to discuss the issue in depth with you, that should be a significant warning sign.

Business Investment Who are The Competitors?

Business Home Making Money The Franchisor should have a good understanding about the competition, and how much market share they command. It doesn't matter how big a market is if it's completely saturated, unless the Franchisor has specific strategies to eat someone else's lunch.

Based Business Free Home The Franchisor should be able to talk to you about specific competitors, what their strategies have been, what they will likely be in the future, and how the Franchise system intends to penetrate that market.

Business Internet Online The Franchisor should also be willing to discuss the future competitor that may appear on the horizon. They may not be willing to disclose their specific strategies about dealing with that eventuality - at least not without erasing your memory after the discussion. However, a general discussion about the issue should give you some solace that they have thought about their approach, and that you feel comfortable with their preparedness.

Best Business Opportunity Again, if the Franchisor is not sufficiently prepared to discuss current competition, as well as future competition, then warning bells should go off.

Business Computer Home Is The Franchise Scalable?

Business Idea Opportunity This issue relates to your own targets, as they all do. If you want to grow a your business to leverage the Franchise process in multiple locations, or by leveraging the results of a number of employees, or by any other criteria appropriate for the business, does the Franchisor allow for that growth? If leverage is one of your goals, and the means and market are available in the Franchise system, what is the cost of that leverage?

Based Business Home Online Some systems that provide services, won't allow you to hire employees, while others encourage it. In the case of the systems that encourage it, you should ask about the cost of adding units in that strategy, and the training process for any new employees.

Business Federal Opportunity In retail environments, the leverage will come from additional locations, or physical expansion, or additional product lines, so your questions must relate to that availability, and the capital cost required to execute the strategy.

Based Business Home Legitimate Other related questions include asking about geographic restrictions to where you can build business. Again, some Franchises have geographic restrictions, while others allow you to build business without reference to the map.

Business Home Mlm Opportunity The important thing is to ask the questions, and understand the answers to make sure your future growth goals can be met by the system you are assessing.

Business Home Idea Internet What Are The Franchisor's Growth Plans?

Based Business From Home You may think that a Franchisor's growth plans are not important to you once you become a Franchisee. However, there are a number of factors that illustrate that a Franchisor that has continuing growth plans will increase the value of your investment.

Business Make Money Online The opposite of growth would be shrinkage. That doesn't sound too good does it? The middle point would be stagnation. That's not too attractive either. So why is growth important?

Base Business Home Opportunity One important factor is related to the penetration goal stated above. If there is room to penetrate, and the Franchisor doesn't have strategies to meet that market, guess want will happen. Yep, competitors will penetrate, and through their growth strategies, they might eat some of your lunch. It is logically better for you that the Franchisor has growth strategies that will address that market need, and grow value in the Franchise system, as opposed to rolling out the welcome mat for competitors.

Business Magazine Opportunity A second factor is that a normal phenomenon in Franchising is that each Franchise that is added to the system, and each new customer that is added to the system, and each new employee that is added to the system, will increase the value of the brand. Volume carries clout in price negotiation. Messages are carried by more lips. More signs, more transactions, more bank deposits, more customers, more vendors - it all translates to increased brand recognition. Increased brand recognition should translate to more business for each Franchise.

Business Make Money In addition, growth strategies will generally drive up the Franchise Fee. That means that if you pay $2 as a Franchise Fee, and growth strategies drive the Franchise Fee up to $5, then that becomes the base value for your Franchise because the market will pay that price. That's a nice return on investment if it's achieved over a reasonable timeframe, which of course is driven by the Franchisor's growth strategies.

Business Opportunity Weblog O.K., so there are lots of good reasons that growth is important as opposed to shrinkage or stagnation. However, you must also feel comfortable that the strategy is sensible. That's why you need to ask the questions, and you should expect well thought out answers that makes sense to you.

Base Business Home Online What Exit Strategies Are Available?

Business Home Income There are many factors that should come into your analysis before becoming a Franchisee. The folly often lies in not considering this part of the equation at the very time that you are considering entry into the Franchise in the first place. That's exactly the time when you need to give significant consideration to the value of the asset that can be created. Ongoing profitability, cashflow, and emotional fulfillment, are all important criteria in the process of making an informed business decision about becoming a Franchisee. But then so is the growth of the asset value you create, along with the ease of realizing that value at the time you intend to exit.

Business Opportunity Unique You need to discuss these issues with the Franchisor as you consider the Franchise opportunity. If the Franchisor isn't willing to discuss these issues, then it may mean that there isn't a solid basis for asset growth, and current profitability is the only consideration. You have to determine how important this particular part of the equation is for you. The important part is to ask the question so you can assess the response in terms of your own goals and dreams.

Business Home Job Opportunity There are many more questions that must be asked of the Franchisor. These five questions will give you a good basis to understand the general strategies and thoughts of the Franchisor. That way you can determine if you have unified thinking, and if that answer is affirmative, then you can craft more specific questions about the system.

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To receive a free copy of an E-Book titled 'Franchise Opportunity - Making The Right Decision' by Dennis Schooley, email that request to corp@schooleymitchell.com.

Ameriplan Business Opportunity Dennis Schooley is the Founder of Schooley Mitchell Telecom Consultants, a Professional Services Franchise Company. He writes for publication, as well as for schooleymitchell.blogging.com and franchises.blogging.com, in the subject areas of Franchising, and Technology for the Layman. http://www.schooleymitchell.com, 888-311-6477, dschooley@schooleymitchell.com.