Emerging Business for 2013 - Buying a franchise

Discussion in 'Articles & Tutorials' started by Leejeong, Jan 17, 2013.

  1. Leejeong

    Leejeong
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    We all know the the world economic growth slowed due to several factors. Most jobs are not secured in some countries and with those negative events, one trend emerged. It's the individual starting up their own businesses via franchising. Buying a franchise is a choice for people in most developing and develop countries, because it simplifies the process of establishing a business.

    Here are some important considerations on buying a franchise;

    Cost - It depend on the type of franchise. Business owners might be looking on spending either hundred thousands or even millions just to start a franchise. More than start up cost, franchisees should consider how much ongoing fees will be at the franchiser's business.

    Competition - Before you start your franchise business, it's important that you've already identified and understand the market competition for products/services in the same industry and most especially in your chosen location.

    Personal Interest - It's also important to invest or to buy a franchise of which you will enjoy the most. Your lack of interest or little enjoyment might be a hindrance for your success.

    Training - Franchise contracts often includes training and guidelines that is really helpful , especially for the first-timers in this kind of franchising business. However, there are some online courses or free training seminars that can help anyone learn how to promote, manage and grow their business.

    Hope that helps a litle. :)

    Leejeong
     
    #1 Leejeong, Jan 17, 2013
    Last edited: Jan 17, 2013
  2. infinityweb

    infinityweb
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    I agree that those factors must be taken in a deep consideration and of great thinking. But nowadays, the trend of franchising somehow change a different course. As we all know, online business are quite popular since it has emerged into the world of business. I think, engaging into certain activities such as promoting online is a good chance for you to have a head away from your competitors. SEO or developing a site for your business, where you can post articles and even videos is just one of the things you can do.
     
  3. 2misi.com

    2misi.com
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    Yes, you are right. For beginner, it is better to invest in franchise because easier to operate business within existing proven system.
     

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