|
Hot Franchise Links
Online Tutorial Introduction to Franchising
a partnership of the SBA and Frannet
5 Tips on Buying a Franchise
International Franchise Association
Illinois Attorney General's Franchising Resources
“Before You Buy A Franchise, Understand Your Risks”
“The Illinois Franchise Disclosure Act and Rules - Know Your Rights and Responsibilities”
Federal Trade Commission
Many publications on franchises, including “A Consumer Guide to Buying a Franchise”
Business.gov Franchises and Business Opportunities
6 Blogs on Franchising
Should I Buy a Franchise?
When most of us think about franchises, we are referring to the business-based franchise like the top 500 franchises published in Entrepreneur magazine each year. Entrepreneur’s 75 different categories range from automotive to services, but they all have one thing in common—a systematic method to deliver services or products.
Franchising is not for everyone, but for an individual who has limited business experience or someone who enjoys working within an established system, franchising can be the best possible path.
Franchising is simply a method of distributing products or services, with at least two levels of people involved. The first is the franchisor, who lends his trademark or trade name and a business system. The other is the franchisee, who pays a royalty and often an initial fee for the right to do business under the franchisor’s name and system. The contract binding the two parties is the “franchise,” but that term is often used to mean the actual business that the franchisee operates.
Do You Have What It Takes?
Bette Otte, SCORE Counselor and District Director in Orange County
Before you go into any business, franchise or not, it is important to first ask yourself these important questions:
-
Do you have strong motivation and drive to achieve success?
-
Do you have confidence and enthusiasm for the product or service you will be representing?
-
Are you able to motivate yourself and others and train employees?
-
Do you have experience in the industry?
-
Are you willing to promote your business and the brand?
More from Part 1. Franchise Options
Read Part 2, Selecting the Right Franchise for You
Read Part 3, Growing the Successful Franchise
What is the UFOC?
|
Franchising Workshop
All About Franchising: Fast Track to Owning A Business
March 11, 2010
Learn about franchising as an alternative to starting up a new business. Explore franchising opportunities and learn franchise myths, realities and regulations. Also learn how to select the franchise that is right for you.
Counseling on Franchising
Talk to a Free Volunteer Counselor like Larry Pelka about Your Franchising Needs
Sign up for Free Confidential Counseling at a Location Near You
Get SCORE Tips and News by Email
|
