My Business Guide

Finding The Right Franchise

Business Home Internet Whether it's hamburgers, pizza, telecom, coffee, Internet, muffler parts, or seniors' services, there are Franchise opportunities available to evaluate. There are great Franchise systems, good Franchise systems, and bad Franchise systems. The challenge is to ask the right questions to find the right system that will fit your goals and dreams. The key is to ask the questions - and listen closely to the responses. Only then can you determine if the Franchise opportunity is the right fit for you. So whether it's food services like burgers or coffee, professional services like telecom or IT, or manual services like cleaning or oil changes, ask the questions and record the answers.

Business Mlm Opportunity What Are The Franchisor's Growth Plans?

"Joining the world' largest hotel franchisor is an extremely exciting opportunity. Evidenced by the company's multitude of accomplishments over the last few years, Choice clearly has established a pace of innovation and expansion that only a handful of franchising companies can meet. I look forward to being a part of this growth story and working with Bill Floyd and his team to ensure maximum value for shareholders, franchisees and customers alike."

Based Business Home Income 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.

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.

Based Business Home Internet 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?

Batteries Plus is a company driven by franchise retail store growth. owned stores in Wisconsin, growth throughout the rest of the country is through a carefully planned franchise community. We are looking for entrepreneurs to help us continue to grow. As a franchise business for sale throughout the US, there are still single and multiple units available.

Business Homebased 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.

The Econo Lodge in Dublin is located near Cracker Barrel, Denny's, Krystal and Ruby Tuesday's restaurants. The hotel is half way between Savannah and Atlanta. The Econo Lodge in Dublin is owned and operated by Mardhave, Inc. The Econo Lodge hotel brand is franchised by Choice Hotels International ( CHH), one of the world's largest lodging franchisors. There currently are 723 Econo Lodge hotels open and 72 under development worldwide.

Based Business Home Mlm 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 New Opportunity 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 Home Online 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.

Best Business Home Opportunity 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.

Business Investment 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. www.schooleymitchell.com, 888-311-6477, dschooley@schooleymitchell.com.