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Dhruv singhaniya
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What is Franchise ? - Page 2 Empty Re: What is Franchise ?

Mon Jan 14, 2019 6:14 pm
When entrepreneurs search for businesses to invest in, they want to know they are spending their money wisely. If you look up success rates, franchise facts show 80-90% of owners still in business after a couple of years. However, if you delve deeper, you will find out that these numbers are over 30 years old!
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deepika2029
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Mon Jan 14, 2019 6:14 pm
Honest-1 Auto Care has the only ESA (Environmentally Sustainable Actions) Certified eco-friendly locations and national franchise. Pollution prevention, recycling, resource conservation, and offering and promoting eco-friendly auto care services are the four primary categories of its ESA Program.
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Dhruv singhaniya
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Mon Jan 14, 2019 6:14 pm
Unfortunately, most people take this percentage and run with it. Franchises have a higher percentage of success than an individual business, but the difference isn’t so staggering. Some research shows that lone business owners only have a 15% success rate in comparison, an inaccuracy as well.
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deepika2029
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Mon Jan 14, 2019 6:14 pm
Dunkin’ Donuts serves more than three million customers per day. Some of these customers are part of Dunkin’ Donuts coffee subscription service, Regular Refills, where the customers’ choice of coffee blend(s) is delivered to their home or office.
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Dhruv singhaniya
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Mon Jan 14, 2019 6:14 pm
Everyone has heard the saying, but most would never associate it with owning a franchise location. However, this happens more often than not. Entrepreneurs who wish to open a business must be prepared to perform some of the grunt work themselves. Until you hire and train a team, there are times when you will be filling the shoes of multiple positions.
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deepika2029
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Mon Jan 14, 2019 6:15 pm
Baskin-Robbins – known for its “31 flavors” slogan – has introduced over 1,000 ice cream flavors since 1945. The top five selling Baskin-Robbins ice cream flavors are Vanilla, Chocolate, Mint Chocolate Chip, Pralines ‘n’ Cream and Chocolate Chip.
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Dhruv singhaniya
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Mon Jan 14, 2019 6:15 pm
Investing in a franchise company is a long-term commitment. Some people think you pay a one-time fee and obtain support from the corporate level for the first year. Contrary to this assumption, franchise owners involve themselves in a relationship with their franchisor.

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Dhruv singhaniya
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Mon Jan 14, 2019 6:15 pm
A percentage of revenue goes to the company on a regular basis but they continue supporting the business throughout your career. As long as you are part of the system, you receive help from HQ.
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Dhruv singhaniya
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Mon Jan 14, 2019 6:15 pm
In most cases, franchisors allow potential franchisees to talk with current owners. This is crucial to decide whether you want to invest in the company or not. Most companies offer contact information for open discussion, but if they refuse to give you this, don’t work for that company.
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Dhruv singhaniya
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Mon Jan 14, 2019 6:15 pm
Allowing communication between franchisees and potentials creates a bond that businesses need to run efficiently. This also gives you insight into the exact steps you’ll be going through yourself should you decide this is the right company for you.
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meenu007
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Mon Jan 14, 2019 6:15 pm
The top 3 stayed the same from last year: McDonald’s, KFC and Burger King, but it shouldn’t be a surprise. Food franchises have always led the way in franchising because of the relative ease of replication from one place to another, once recipes and menus are developed.

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deepika2029
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Mon Jan 14, 2019 6:15 pm
Franchising is a kind of licensing arrangement wherein a business owner, known as the "franchisor," distributes or markets a trademarked product or service through affiliated dealers, who are known as "franchisees." While these franchisees own their establishments, terms of franchising agreements typically require them to share operational responsibilities with the franchisor.
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Dhruv singhaniya
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Mon Jan 14, 2019 6:15 pm
When entrepreneurs seek out franchise opportunities, they want to be their own boss. While this is true, there are a few limitations. A franchisee owns and runs their specific location. However, they still need to adhere to the rules set by the company. Brand standards need to be followed to ensure all the locations represent the same name. This means the franchisor still makes the final decision.
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meenu007
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Mon Jan 14, 2019 6:16 pm
Technology is also playing a role in food franchises continuing in a growth pattern. A point that Robert Cressanti, International Franchise Association (IFA) president and CEO, noted in a November 2017 interview to the Wall Street Journal.
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Dhruv singhaniya
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Mon Jan 14, 2019 6:16 pm
Surprisingly, negotiating your franchise contract is possible. Most research shows the opposite but a franchise attorney can walk you through the process. He or she will work with the franchisor to find the best options for you and at the same time maintain the corporate brand and integrity of the company.
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deepika2029
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Mon Jan 14, 2019 6:16 pm
Over the past few decades, franchising has emerged as an integral part of America's commercial landscape. Indeed, companies as diverse as McDonald's, The Gap, and Jiffy Lube owe their ubiquitous presence in the marketplace to the practice.
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meenu007
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Mon Jan 14, 2019 6:16 pm
“The food sector is continuing to grow,” he said. “It’s easily accessible. People are creating interlinks with technology in ways they didn’t before, so you have app ordering, you have delivery of food in vehicles that bring it in temperatures unachievable before. You have people putting a lot of investment and thought into appealing to the consumer and particularly into millennials, who are becoming a greater economic force.”

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Dhruv singhaniya
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Mon Jan 14, 2019 6:16 pm
Loans are one of the biggest franchise facts that people hear about but have mixed data. A debate exists whether a small business loan or a franchise loan is easier to obtain. Contrary to some suggestions, monetary investment in a well-known, established company happens more often. This means that even though both loans can be difficult to gain approval, banks and organizations are more likely to say yes to a business plan that has been proven successful.

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Dhruv singhaniya
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Mon Jan 14, 2019 6:16 pm
For the first year, most franchisees go through initial training and then receive additional support. Most franchisors cease support once the location has been established successfully. However, the more prominent companies offer a strong support system throughout the entirety of the relationship.

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Dhruv singhaniya
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Mon Jan 14, 2019 6:16 pm
To invest in a well-known, established company with extensive training and ongoing support, consider DetailXPerts. We are an eco-friendly, mobile auto detailing company that specializes in steam cleaning technology. Check out our franchise opportunities today.
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deepika2029
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Mon Jan 14, 2019 6:16 pm
It is important, then, to utilize other sources of information in addition to the disclosure document when pondering a move into the world of franchising.
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Dhruv singhaniya
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Mon Jan 14, 2019 6:17 pm
Franchising is a growing industry across the globe. And with the benefits it brings, it is clear to see why more and more people are deciding to start their own business as part of a franchise, rather than go it alone. Here are some fascinating franchising facts to show you why.

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deepika2029
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Mon Jan 14, 2019 6:17 pm
Those who do provide such information are obligated by the FTC's Franchise Rule to have a reasonable basis for the claims they make and provide prospective franchisees with written information substantiating their projections.
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Dhruv singhaniya
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Mon Jan 14, 2019 6:17 pm
Franchising offers entrepreneurs the support, systems, experience, training, mentorship and proven business model of an existing successful business. These elements contribute greatly towards the overall success of franchises compared to new start ups.
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deepika2029
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Mon Jan 14, 2019 6:17 pm
Many experts also encourage prospective small business owners to interview current and former franchisees associated with the franchisor.
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