 A
good question! Depending on the source, most experts
believe that owning a franchise is a more conservative
path to business start-up. Consider, it is estimated that
90% of all business start-ups fail within the first 5
years. The most often sited reasons:
- Lack of Capital
- Failure to Have a Well
Thought Plan
- Lack of Experience in
the Business Concept.
Franchising solves this
problem. When you purchase a franchise, you basically buy
three things:
- A Brand. You get to
use the franchisors name on your business and capture
the goodwill associated with it in the marketplace.
- A Business System. The
franchisor has spent considerable time and expense
developing the business system to operate the franchise
and understanding the costs of operation. You can
capture these lessons-learned and save thousands on
experimentation.
- Training. The
franchisor will train you on every aspect of running the
business
Franchisors continue to improve and support the
enterprise and franchisees pay a royalty to the franchisor
to offset these expenses and also make a profit on the use
of the business concept.
|
is a simple easy to use Royalty Collection Tool for
Franchisors. It provides franchisors with a
low-cost branded solution for payment collection.
