Thinking of Buying a Franchise
An Essential guide to buy a franchise.
Finding Your Right Opportunity
There are many ways other than brands websites to find information about franchise opportunities, like Franchise Global website a franchise consulting web portal, can be a better alternate option, will lists available franchises by type of business and provide basic information about each franchise. You can search using a web platform to find a franchise if you don’t know the type of business you want, or to see which franchises are available for the type of business that interests you.
Buying a franchise means, you will be able to sell the products or services of a specific brand that has the name recognition or reputation and get a support that can help you succeed. But buying a franchise is like any other
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The franchisor who started the initial business doesn’t necessarily need to spend all their money on developing it. As an alternative, they become a franchisor and search for a franchisee to buy and run the commercial enterprise.
Like, the franchisor may provide you with help in identifying an appropriate location for your business, The franchisor mostly provides support in marketing, staff recruitment, training with scheduled workshops or seminars.
Costs Involved when a franchisor in exchange gives the right to use the brand’s name for a specific number of years with assistance and support, you will pay some or all of the following:
Franchise Fee and Other Expenses
Your initial franchise fee will typically start from 1 lakh onwards and will go to 6 lakhs based on the city and various other factors.
Other
...y expand their sales base by having smaller businesses sell their products where it would be economical unfeasible for them to set up a branch. Practitioners such as bankers can provide support in the form of soft money to new businesses such as partial grants which do not have to be paid off until the business reached a certain size or level of profitability. (Disabilitymeansbusiness.com 2013)
Nearly all of the company's restaurants are operated by franchisees. Moe’s is a business format franchise and is available for single-location or multiple-location deals. The franchise fee for a single-location deal is $30,000 non-refundable. In order to open a store location, a franchise is expected to have $200,000 in liquid capital and $600,000 in total assets. Moe’s Southwest Grill, a 2007 Top Ten Growth Chain according to Restaurant Hospitality and Technomic, is prepared for vigorous franchise growth.
According to Chick-Fil-A’s website the process to own a franchise is lengthy and rigorous. Chick-fil-A: Franchise Application Information. (n.d.) “At Chick-fil-A, we believe that our success in a community is tied directly to the caliber of the individual fra...
Moore, L 1997, The Flight to Franchising, US News & World Report. June 10, pp. 78-81.
• The franchisees could leverage the ICEDELIGHTS brand, product, training capabilities, and real estate experience once ICEDELIGHTS could provide the support
Senior Management of PepsiCo is evaluating the potential acquisition of two companies – Carts of Colorado and California Pizza Kitchen – in order to expand the company’s restaurant business. If indeed PepsiCo decides to pursue the acquisition of one or both, they must decide how to align each of these business units in its historically decentralized management approach and how to forge relationships between the acquired business units and existing business units. In their evaluation, Senior Management is faced with the question of whether the necessary capital investment in order to purchase one or both of the businesses can be profitable for each of the acquired business units, but must also take into consideration that the additional business units will not hinder the profitability of the existing business units.
The Panera Bread Company began in 1981 as Au Bon Pain Co., Inc. Founded by Ron Shaich and Louis Kane, the company thrived along the east coast of the United States and internationally throughout the 1980’s and 1990’s and became the dominant operator within the bakery-café category. In the early 1990’s, Saint Louis Bread company, a chain of 20 bakery-cafes were acquired by the Au Bon Pain Co. Following this purchase, the company redesigned the newly acquired company and increased unit volumes by 75%. This new concept was named Panera Bread. Top management chose to sell their previous bakery-café known as Au Bon Pain Co. due to the financial and managerial needs of Panera. In order for Panera to become the success top management visualized all resources needed to become available for Panera. Panera Bread is now the most successful bakery-café in the category in which there are currently 1,777 bakery-cafes in 45 states and in Ontario Canada (Panera Bread).
The purpose of the following paper is to be able to inform the reader(s) of the paper about the business goals of the ownership and operations of a Sports Bar Franchise. The topics of discussion will include the description of the goal of the business and subtopics of the types of goods and services that are provided by any Sports Bar Franchise, what types of customers will this business attract, and lastly, how and where the specified services are made available. The paper will also include dialogue about the strengths and weaknesses of an assorted of business organizations and which one would be most appropriate for the author’s business venture.
As my wife and I were pondering about how to meet our financial goals, we started thinking about which businesses we would love to be a part of and Chick-fil-a stood out way above any other. So I told my wife that I would look into Chick-fil-a’s franchise opportunity and I went to the website and learned some more about the company and saw that it would be a great company to be a part of. Especially after finding out the cost to startup. We don 't believe a person should go into great amount of debt to start a business. After letting my wife know what I found, we decided to start the application process online.
Business growth general is assumed to be good; bigger is assumed to be better (Hess, 2011), but if the proper planning is not in place it can lead to a business failure. Beginning a business based on something she loved, and needed in her life Susan Feller made the brave decision to build a successful business by baking and selling gluten-free cakes and desserts. After her retirement she focused on her dream and solving her own issue, finding food safe and healthy to eat for those, like herself, with Celiac disease and gluten allergies, but they also had to be delicious. Feller had some tough decisions to make as a small business owner, would she be able to keep up with the demand, how can she grow her business and what if she decided she had had enough and wanted to close the business? These are all decisions any business owner have to face at one point or another.
Currently, Yum! has over 40,000 restaurants in 128 countries and territories, 90% are owned and operated by franchisees or licensees in the United States and 67% internationally (Yum!, 2014). By meaning, Yum! does not own or operate the restaurants. Instead a legal agreement is entered into whereby the franchise owner pays Yum! for the use of their trademark, trade name and adv...
Customers buy when they feel it is necessary giving them the upper hand on the industry. Bargaining power of suppliers: In the quick- service restaurant, the suppliers vary. They really do not rely distributors as large restaurants do. Threat of new substitutes: The restaurant industry is segmented into many parts: full service restaurants ($120 billion); quick- service restaurants ($110 billion); away-from-home managed institutions, examples: food services for schools and hospitals ($21 billion); and other food industries ($106 billion). (Marshall Jones, 1999). Rivalry among competi...
Manufacturing Franchise: These types of franchises provide an organization with the right to manufacture a product and sell it to the public, using the franchisor’s name and trademark. This type of franchise if found most often in the food and beverage industry. Most bottlers of soft drinks receive a franchise from a company and must use its ingredients to produce, bottle, and distribute the soft drinks.
Making the decision to open your own business is a major life event. Starting a new venture can be exciting as well as rewarding. The first step to becoming a business owner is choosing the type of business you would like to run. This business can be something that you have wanted to start up yourself or you can go with an established franchise. Are you willing to share the profits in exchange for the relative safety of a franchise or would you prefer the risk and rewards of pursuing your own vision? Franchising is a continuing relationship wherein a franchisor provides a licensed privilege to the franchisee to do business and offer assistance in organizing, training, merchandising, marketing and managing in return for a monetary consideration
The first step in any business is to think of or create a business idea. Without an idea, one cannot launch their business off the ground. A right direction is needed to create a business with a unique idea. However, other options include franchising or buying an existing business (1). Franchising allows an individual to run stores such as Burger King or McDonalds under the corporate name. It involves taking training classes and a heap of money in order to start a franchise. A Franchisee will have to buy products and services from the corporate entity they are franchising from, which is often required. Buying a franchise is like taking a piece of the pie from the company that is franchising and sharing that pie with everybody else. In addition having a franchise allows one to communicate and in essence become a big part of an added business opportunity (4). Franchising is far from easy to start and maintain for that matter. Starting a franchise involves a l...