At Franchisesouq.com we strive to provide our users with the best information possible to help then to evaluate all of their options in terms of franchise ownership. We have collected some of the more common questions our users have and provided answers to the frequently asked questions. If you have additional questions or need additional help, please use our contact us page to ask your question or ask for help. Thank you.
If you are the type of person who desires to own your own business and be your own boss, then there may be a place for you in franchising. The varied opportunities available in franchising are drawing people from every walk of life from former corporate professionals to young owners, recently out of college. Investors at all levels are finding that few financial investments can compete with the potential income and personal growth of an established and reputable franchise.
Franchising is especially attractive because it offers people with various levels of capital and experiences a good opportunity. However franchising is not for everyone, as some people will not adjust well to a franchisor setting. Franchisors have established standards and rules, sometimes making decisions that you might not agree with. Before you invest, investigate... ensure that you understand the franchise model and that it is one with which you agree.
A franchise is already a functioning business system. While entrepreneurs invest heavily in order to set up a profitable business model, a franchisee can step into an already established concept, with much less risk for failure. For example, are you aware that as many as 80% of new business start-ups fail each year? An already functioning business model will put you heads and shoulders above the novice entrepreneur who not only needs to generate profits, but also needs to develop a profitable business model. For instance, fast food businesses greatly benefit from their association with the brand name and products of the franchisor. It can take much time and be very challenging for an individual business owner to establish his business with the same brand recognition and popularity as an existing successful franchise system.
The cost to buy a franchise varies greatly depending on what industry you choose to start the business in, whether the concept requires a storefront, office, home office, or is mobile, what country you buy the business in, and how much overhead your business will require. There are concepts that cost under $20,000 to start and other franchise businesses that require the investor to have millions of dollars in available liquid capital. Additionally, many franchise concepts offer financing or can help you gain financing if you're interested
The Middle East and North Africa markets hold some of the most extraordinarily advantageous platforms for the development of the franchising industry in the world as it is a USD 30 billion franchise economy. The UAE alone commands USD 18 billion of this growing sector. Within the various search capabilities of Franchise Opportunities, we have assimilated literally hundreds of franchise opportunities that encompass virtually every category of the small business spectrum. Browse our database and locate offerings that interest you. Our detailed "web brochures" provide more detail on the franchise or business opportunity and will help you determine if you would like to request a more complete business package.
Although the success rate for franchise-owned business is generally better that the success rate for many independent businesses, there is no formula to guarantee success. The same may also be said of the profits generated. Often the margins you make are a reflection of your ability to properly run your franchise, however you may be able to get a document from the franchisor that illustrates the typical franchise earnings. If the franchisor does not provide such a document, you should contact a number of franchisees in the market you are interested in and seek their advice on the business' profitability. One bad apple does not mean the concept is flawed, so be sure to speak with at least five franchisees.
Before investing in a particular franchise network, carefully consider how much money you have to invest, your abilities and your desired goals. The following checklist may help you make your decision.
While there are franchisors that do assist in franchise financing, others do not. This will vary from franchisor to franchisor. Seek the financing options offered by the franchisor but also consider friends, family, investors, the Small Business Administration (SBA) and if you have a relationship with your local bank, certainly deem it as an option as well. Additionally, Franchise Opportunities offers a Finance Center with lenders who want to help
By providing prospective franchise owners with everything they need to know about franchising, we help them to self-screen themselves to identify if franchising is right for them. With our guidance they are then able to make educated choices at all stages of the decision- making process.
By structuring our site in a way that encourages and nurtures only those serious about and suited to franchising, franchisors can be ensured that the leads we generate for them will be of a high standard.