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How To Start Your Own Franchise Store

How to start your own FRANCHISE STORE What is franchising? A franchise is a business model that involves one business owner licensing trademarks and methods to an independent entrepreneur. Sometimes, franchises are referred to as chains. There are two primary forms of franchising: Product/trade name franchising Business format franchising Franchisor owns the right lo the name on trademark and sells that right to a franchisee. Franchisor and franchisee have an ongoing relationship. and the franchisor often provides a full range of services. Franchise Tips Finally Bear in mind that a franchise business, great deal ofAsiness. will re work, investment of your time and a ton of determination. like any other Inrequire a Make a decision and run with it Support of family/friends Starting up your own business ea major life change and will require a huge investment of time especially in the early days. Take advice Speak to the franchise section of one of the major banks that specialize in funding franchise startups. Take your time Careful consideration and research will be important to ensure you make a good choice not without so a franchise business is no different. unning a business is e element of risk and Choose your franchise carefully Choosing the right franchise for you isn't like picking numbers out of hat Coffee Bar Considerations BUSINESS PLAN LOCATION The location needs to be easily accessible to customers. especially in the morning. Coffee retail is a high- volume, low-transaction business. Figure out if it's feasible-or hire someone who will. Layout Music Décor Furniture DESIGN PEOPLE COFFEE Take "extreme care" in building out the concept. Partner with vendors and roasters who have similar missions and are willing to provide support. There's money to be made in specialty coffee, but in order t make a living. you have to invest serious time and energy into getting it and serving it. Sources: http://www.sba.gov/content/franchise- http://www.myfranchiseshop.com/20ealieon-buying-franchise.html http://www.entrepreneur.com/article/219836 INFOGRAPHIC DESIGNED BY Ojava detour. ENationalPositions

How To Start Your Own Franchise Store

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Franchise vs. Independent When it comes to opening a business, there are two paths an entrepreneur can travel. The first is to go the independent route, starting a business from scratch with no prior ... business reputation. This route tends to be harder since the budding businessperson needs to come up with a business plan, identify target audience, find funding, and build clientele, all through trial and error. This can be done, but not without some sacrifices. Franchising, on the other hand, tends to be much simpler than going the independent route. Becoming a member of a franchise chain takes some of the guess work out of starting a business. With franchising, the parent company will lend the entrepreneur rights to the desired name or trademark. The entrepreneur will still need to find funding to back this business deal, but many of the responsibilities of starting a business will already be taken care of. The franchise name will lend credibility to the business and an existing clientele that already seeks out the products or services sold. In addition to basic product name franchising, an aspiring entrepreneur can choose to a business format franchising agreement. During this agreement, the entrepreneur will not only have the rights to the product name, but will also receive a full range of services associated with the business. This builds an ongoing relationship between the two parties, making it even easier for an entrepreneur to open a successful business. http://javadetour.com/start-franchise-store/

How To Start Your Own Franchise Store

How To Start Your Own Franchise Store

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