Franchise Opportunity Information CenterThe franchise universe offers a variety of franchise opportunities in a myriad of franchise categories encompassing everything from advertising franchises to home based franchises to women's franchises.
The Franchise Information Center at America's Best Franchises will provide Franchise Opportunity Information that may be relevant to your search for a franchise and provide answers to Frequently Asked Questions as they relate to our Directory of Franchise Opportunities, Franchise Businesses and Business Opportunities.
Additionally, we'll feature franchise articles, profile franchise and business opportunities and cover franchise business strategies that an entrepreneur needs to know to start and run a franchise.
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Question:
Retail franchises and business opportunities for sale are popular options for the aspiring entrepreneur.
According to the U.S. Census Bureau, the total sales for the U.S. Retail Industry in 2007 (including food service and automotive) was $4.48 trillion. The US Department of Labor states that nearly 15.5 million people worked in the US Retail Industry in the fourth quarter of 2007.
Wal-Mart Stores is the largest retail business in the United States.
Retail franchises come in a variety of shapes and sizes including those that require a large start-up investment and those that are a bit more modest in price. Retail franchise businesses sell a number of products or provide services that may include automotive repair and sales, retail apparel, food, health related products, toys, child care services, pet products, beauty products and more.
If you're looking for a retail franchise business, take a look at a some of the following entries:
GNC - the leader in vitamin and supplement franchises, started in 1935 and began franchising in 1988. Currently, there are more than 5,000 franchises in the U.S. and 38 foreign countries, including Canada and Mexico.
AAMCO Transmissions Franchise - the largest franchise in the transmission repair industry, with over 700 locations in the U.S. and Canada. They also claim to have a 98 percent nationwide recognition rate.
SALADWORKS Franchise - SALADWORKS is the nation's largest fresh-tossed salad franchise business concept.
Liberty Tax Service Franchise - Liberty Tax Franchise is a retail business considered the fastest growing retail tax preparation company in the industry with 2700 offices in the US and Canada.
ARBY'S Franchise - Arby's is considered one of the top franchises in the country.
Edible Arrangements Franchise - Edible Arrangements has been named by Inc. and Entrepreneur magazines as one of the fastest growing franchises in 2006 and 2007 and one of the top franchise systems in Entrepreneur’s Annual Franchise 500 list in 2007 and 2008.
Little Caesars Pizza Franchise - Little Caesars is one of the top four international pizza chains with restaurants on five continents. If you're a Veteran, Little Caesars may have a great franchise assistance program for you.
Retail Franchises
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Question:
Doggie Daycare franchise business opportunities are growing at a very fast pace. That's not surprising because thousands of dual household pet owners work all day. It used to be that these owners would leave their pet home alone only to cause undue damage in the house, the yard, along with a string of disgruntled neighbors complaining about constant barking.
Doggie Daycare franchise business opportunities began their explosion in 1994, when there were only about six centers of this type across America. Central Bark Doggie DayCare franchise alone, today, has about 40 centers across the U.S.
How Does Doggie Daycare work?Doggie Daycare is not unlike daycare for humans. You drop your dog off at a retail facility on your way to work and pick him/her up on your way home.
The Enrollment Process
At Central Bark, which is the nation's largest doggie daycare franchise business the following is required for enrollment:
- We accept dogs of all ages. If your dog is over six months of age, he or she must be neutered or spayed.
- All dogs must be current on DHLPP, Rabies and Bordatella vaccinations.
- Each dog must undergo an initial behavior assessment to determine enrollment eligibility.
- To promote maximum safety and comfort for all dogs, we require a one day per week commitment. If your dog is absent from day care for an extended period, it may be necessary to perform another behavior assessment.
- Central Bark™ reserves the right to turn away any dog unsuitable for this environment.
- Signed waivers are required for enrollment.
A Day in the Life while at Doggie Daycare
Depending on the activity level of your dog and the curriculum level at the center, your dog may take a swim, play with other dogs, play with the staff, or he may simply enjoy a long, long nap.
Doggie Daycare is one of the fastest growing industries in America.- Americans spent an estimated $29 billion on their pets in 2003, up approximately 76% from 1994.
- People are willing to spend on their pets today, because they fill a very important role in their lives.
- Forecasts indicate that the growth will continue between 8 to 15% each year.
- Wall Street analysts state that even during economic hard times, when pet owners are cutting back on household spending, they are still pampering "man's best friend."
- The Bureau of Labor Statistics reports the number of "animal caretakers" is expected to grow faster than average: 22% between 2000 and 2010.
A doggie daycare franchise business is a life style business opportunity. If you love pets and want to get involved in a huge growth industry, take a look at Central Bark Doggie Daycare.
Central Bark Doggie Daycare Business Opportunity
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Question:
A Home Based Business Opportunity doesn't come without risk. You don't have to concern yourself with a long term retail lease, or signage or the cost of a build out but you do have to use caution.
Many of you consider buying a vending machine business because it is a home based business and fits your budget. As with any business opportunity you should protect yourself and be cautious with your investment.
Following are some things you can do to protect yourself when considering buying a vending machine business:
Check out the company with the Attorney General, a consumer protection agency, and the Better Business Bureau in your state and where the business is headquartered. These organizations can tell you if they have any unresolved complaints about the company representing the business opportunity. Complaints may alert you to problems, but be aware that an absence of complaints does not necessarily mean the company is legitimate because unscrupulous companies may settle complaints, change their names, or move in order to avoid detection.
Try to verify claims made by the company and the company's references. To ensure that their representations are accurate, visit existing locations and the anticipated locations for your machines or racks. You may be able to determine from conversations with shop owners and managers whether the machines and racks are, or will be, successful. Ask them how many people come through their establishment daily and what they are interested in buying. Also ask other investors in your area about their experiences with the company.
Call the Secretary of State in the state where the company is headquartered to determine how long the company has been in business.
Ask the company to substantiate all earnings claims. Be aware that investors' incomes vary due to a host of factors, such as location, usage, products sold, and demand for the products. The fact that investors have earned a "high" income in one community or state is no guarantee that you will be able to do as well in your territory.
Remember that entering into a business opportunity may require a substantial investment. Therefore, you may wish to contact your attorney, accountant, or other business advisor before signing any agreement or making any upfront payments. Your attorney can review the company's contract and advise you on how best to proceed. If the company requires that you make a deposit, you may want to have your attorney establish an escrow account where the money will be maintained by a neutral third party.
Vending Machine Business Opportunities
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Question:
Franchises and easy money. Not likely. However, the kids are back in school and you now have time to reflect on other priorities around the household. Everone is feeling the pinch of the recession and higher food prices, out of sight gas prices and, of course, job security or insecurity if you will.
Is there a way you could make some easy money by buying a franchise or business opportunity you could operate from your home? The answer is NO! Making money is never easy. It's hard work and there is always a degree of risk. That said, there are a number of franchise opportunities that do allow you to work from home, that require little investment and you can operate part time. Following are some franchises or business opportunities that just might be a good fit for you:
OccasionOgraphy - OccasionOgraphy is a business opportunity that has been around since 1999. A proven moneymaker, OccasionOgraphy is profitable, fun, and sells creative products that virtually sell themselves. You can make money working from home personalizing candy bars, bottled water, mintbooks cards and more!
Gigglemedia - Gigglemedia is a fantastic business opportunity offering personalized music of your favorite characters from Disney, Sesame Street, Barney and more. Operate full or part time from home or or in a retail mall. For the low start-up price, this may be the best business opportunity available.
TCYonline.com - TCYonline.com offers an effective ‘Zero investment’ and a high return business proposition that opens for you the doors to profitability and a successful career ahead. This is a tutoring business opportunity that provides live online one-on-one Math instruction.
iSolutions - iSolutions is a home based business opportunity. iSolutions offers the fastest and most comprehensive plan for helping people become debt-free - in ten years or less. In a word, you will provide your clients with an exclusive software product that 1) not only rapidly eliminates debt but 2) also increases monthly cash flow, 3) and builds real wealth.
Vendstar - Vendstar is a vending maching business opportunity.
"You just set up the machines and, they just make money. You don't have to constantly be there like a normal job. I have 46 machines right now and it usually takes me about two hours to service them. The machines do the work for me."
- Heath T.
Tremonton, UT
These are just a few franchises and business opportunities that might help you generate some additional income in your household. It's not easy money but if you operate your business effeciently and work smart, you can build a successful part-time business.
Franchises under $10K
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Question:
Home Based Franchises in the Adult Entertainment Industry give you an opportunity to participate in one of the largest, most profitable industries on the internet. The Adult Entertainment industry had annual revenues of $13.3 Billion in 2006 in the U.S. alone.
NJOY NOW is the premier distribution franchise offering Prepaid Adult Internet Access Cards. "Privacy is Priceless" and that is the focus at NJOY NOW. Anonymous access to online adult sites.
Customers simply buy a 30-day NJOY NOW card at their local retail store, anonymously login to NJOYNOW.com and get in on all the action – adult videos, online games, humor & news columns, and much more. No privacy risks, no credit card numbers, no e-mail addresses – only the best anonymous online adult entertainment.
NJOY NOW franchise owners enjoy as much as 200% profit on all cards sold in their exclusive distribution territories. This is a simple home based business franchise supported by a franchise sales training program and compelling marketing programs. You simply, place NJOY NOW cards in convenience stores, liquor stores, newstands, gift shops and sit back and enjoy.
Take a serious look at this home based franchise.
Request Info from NJOY NOW FRANCHISE
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Question:
Owning and operating a successful franchise will require that you make the right choice from the beginning. Buy a franchise that is a good fit for who you are and provides you an opportunity to achieve your goals. Fortunately, if you do a proper self-examination and follow some of the processes provide here, you can make the right franchise choice.
Success in franchising is all about you.
Your likes and dislikes, fears and motivations, how you interact, work, and how you deal with problems, are pivotal factors in franchising success. Know yourself first.
Here are ten secrets to franchise success:
1. Know your passions
If a person is passionate about something, they're usually good at it. Follow your passions. Understand the difference between a lifelong passion and a runaway whim. False desires lose momentum. Passions are forever. Choose a franchise that works for you.
2. Know yourself
Take a look at your life. What are your motivations, patterns and habits? What makes you happy? Will a franchise satisfy your inner most desires? How do you feel about managing employees? What role would you prefer to play in your franchise?
Know your fears. Fear of success is as common as fear of failure.
Understand your strengths and weaknesses. Self-knowledge lets you make successful choices.
3. Know your support system
Franchisors offer ongoing support such as training, setup and marketing advice. Choose a franchise that offers the type and amount of support you need.
Franchisor support is only half of the problem. Are your family and friends offering their full support of this venture? Listen to their advice and make sure they see the value of this decision for you. Sometimes it's hard to see the forest through the trees.
4. Know your skills
What are you good at? Ask others to help identify your skills. Apart from your unique skills and talents, here are five basic skills you'll need as a successful entrepreneur:
1. Communication - talking, listening
2. Research/Planning - information analysis, forecasting
3. Human Relations - motivation, support
4. Management/Leadership - delegation, problem-solving
5. Work Efficiency - cooperation, meeting deadlines
You already use these skills. Which are your strongest?
5. Know your risk tolerance
"Risk tolerance" is the amount of uncertainty investors can handle, in regard to negative changes. It varies with age, family, income needs and personal goals.
Even the most successful franchise business will have down times. Can you handle that level of pressure and work through it with a positive attitude?
6. How much can you afford in a franchise?
A franchise is an investment. In fact, second to your home, a franchise may be the largest investment you will ever make. Even with financial assistance and support, you'll need at least $30,000 in startup capital. You may not break even the first year. It's part of business, but can you afford it?
Invest in a franchise you can afford.
7. Know your franchise
Knowledge is confidence. Research the product and examine the value of the services you will be providing. How to they stand up to the competition? Will you enjoy selling the franchise product or service? Do you like your customers? Do you believe in the product?
Curves, a fitness/support franchise for women, is successful because franchisees are often former clients. They believe in the product and service they offer.
8. Know your work
Ask a franchise owner if you can shadow them for a week. Work at the franchise. Do you feel enthusiastic and energetic, or discouraged at the end of the day? Is this something you could be passionate about for the next 10 years?
Be a customer. What do you like or dislike about the product, premises or customer service?
9. Know your goals
Identify what you want in life and what you want from this franchise. You've heard the question: "Where do you want to be in five years?"
Answer it.
A goal is a focal point of achievement. It defines personal success. If you don't know what you want, how can you be successful?
Set daily and long-term goals. Achieving daily goals is the key to long-term success.
10. Know your potential.
Margo Chisolm was an overweight, bulimic, drug-addicted alcoholic. Her life was a wreck. Yet, in her forties, Chisolm climbed six of the highest mountains in the world.
Everyone has the tools to succeed. If you have the passion, you have the potential.
Know who you are, and make secure choices. You're already on the road to franchising success!
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Question:
The Franchise Business is just one more area where women are seeing tremendous success today. The opportunity for women in the world of business has really turned the corner over the 30 years. Women command some of the highest salaries in corporate America. However most of us don't hold the keys to the executive washrooms of corporate America. The opportunities for us to show off our business skills, and reap the rewards, are abounding in franchise opportunities. The franchise business is our best bet to fulfill our dreams of succeeding in business, while being our own boss. The franchise business allows you to have control over your future with a proven system, and a co-op advertising campaign that you could not sustain on your own. All this adds up to a great opportunity for you; as a women, to excel in the world of business.
The numbers are staggering when you stack up the success of franchises over other types of businesses. The growth of franchising over the past 30 years has been nothing but phenomenal. Arthur Andersen surveyed the franchise associations of 39 countries around the world. It asked them about the number of franchisors and franchisees in each country, their country's total domestic retail volume, the percentage of that volume provided by franchising and similar topics.
"The survey found that growth potential for franchising worldwide is exponential. The global market is far from saturated," says Leonard Swartz, worldwide managing director of franchise services at Arthur Andersen LLP.* Accounting firms, professionals, and even the U.S. government agree, franchising is a good bet. No matter what the economic conditions, franchising makes good business sense.
Franchise Statistics
- Women owned an estimated 25% of U.S. franchises in 2005, according to a report by the International Franchise Association. This figure is up from 8.5% in 1995.
- The IFA reports that women have founded 23 franchise systems in the U.S.
- In 2006, there were an estimated 10.4 million privately-held businesses owned by women.
- The 10.4 million women-owned and equally-owned firms employ 12.8 million people and produce $1.9 trillion in sales.
In the United States, according to Franchising in the Economy, 1991-1993, a study done by the University of Louisville, franchising helped to lead America out of its economic downturn at that time. The study showed the total number of business format franchises increased 5.36 percent from 1991 to 1992 and 6.95 percent from 1992 to 1993. Total sales by franchises increased 4.7 percent from 1991 to 1992 and 8.3 percent from 1992 to 1993.
Now is the time to make your mark in the world of business. Your income is limited only by your your personal commitment. You could even expand your business, with an international footprint, in most franchise opportunities. Of course in today's economic situation, diversity can best be achieved by creating an international footprint, and taking advantage of the currencies abroad. Today is the best time to take control of your future. As an entrepreneur, the franchise business is your best bet.
* Arthur Andersen LLP
Women's Franchises
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Question:
Franchises are diverse in their offerings and give virtually anyone from any walk of life the opportunity to open their own franchise business. Finding the right franchise opportunity for your particular lifestyle, skill sets, and interests is a challenge but their is a franchise model for you.
In fact, its the sheer variety of franchise opportunities that entices most of us to inquire about owning their own business. You may frequent a fast-casual franchise like the smash-hit Smashburger and want to own one. Your experiences at Starbucks may make you want to own a coffee shop franchise.
There's a franchise for you!
Whether you're a millionaire or fresh out of college there's a franchise for you. Most people feel franchise ownership requires a huge capital investment. That is simply not the case. Franchises start at around $10,000 and can reach investment levels of several million dollars.
Variety opens up a potpourri of franchise opportunities from fast-food restaurant franchises to vending opportunities, to home service opportunities and franchise opportunities that allow you to work from home. Most people will find there is a franchise opportunity that will appeal not only to their passions but to their budget as well.
Franchises will offer you an opportunity to own your own business. Choose wisely and do your research and expect to work very hard to become a success.
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Question:
Franchises can benefit from company-owned stores with invaluable and ongoing insight on the home front rather than going into a national market cold with a franchise system. Smashburger the fast-casual burger restaurant is following that pursuit by opening its fifth company-owned location in the Denver area.
Smashburger spokesman Joe Hodas said that while the burger restaurant also plans on storming the national front, Smashburger will focus its growth model on its corporate-owned stores and joint-venture partnerships instead of soley on franchises.
"It's easier to start things on your home turf rather than going to a market cold where you might not have the connection, the input and the lay of the land that you would in your own backyard," Hodas said. Denver has proved itself to be a very strong launching ground for national fast-casual restaurants."
Company-owned stores can also serve as the training ground for franchisees as well as launching new untested products. There is no point in inflicting a poor performing product onto a chain of 100 franchises.
Go to Restaurant Franchises
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Question:
The New Franchise Rule will Provide Franchise Buyers with More Information
July 1, 2008 - The franchise industry has changed considerably even in the past few years, but the Federal Trade Commission (FTC) Franchise Rule that governs the industry hasn't undergone any changes since it was originally created in 1978. In an effort to streamline the Franchise Rule to make it more similar to the, Uniform Franchise Offering Circular (or UFOC - the official document franchises use to disclose information about their business to potential buyers), the Rule is undergoing a transformation. The amendments to the Franchise Rule were announced in January 2007, and as of July 1, 2008 all franchisors are required to comply with the new regulations. As a result, prospective franchisees will have access to more information about the franchises they're considering buying than ever before.
Some of the 23 Items Included in the New Rule...
The purpose of the Franchise Rule document is to give prospective franchisees the information they need to evaluate the risks and benefits associated with investing in a particular franchise so they can make an informed decision. Under the Rule, franchisors must provide all potential buyers with a disclosure document containing 23 specific items of information about the offered franchise, its officers, and other franchise owners. Some of the required disclosure topics include:
- The franchise's litigation history including material lawsuits pertaining to the franchise relationship that have been filed by or against the franchisor.
- Past and present franchise owners and their contact information.
- The amended Franchise Rule requires disclosure of a franchisor's use of confidentiality clauses that prohibit or restrict existing or former franchise owners from discussing their experience with prospective buyers.
- Any exclusivity of territories that comes with the franchise.
- Assistance the franchisor provides its owners.
- The cost of purchasing and starting up a franchise.
- If a franchisor makes representations about the financial performance of the franchise, this topic also must be included, as well as the material basis backing up those representations.
How is the New Rule Different from the UFOC Guidelines?
Although the new Franchise Rule is similar to the Uniform Franchise Offering Circular (UFOC) guidelines, it requires franchisors to provide more extensive disclosure information regarding certain aspects of the franchise owner-franchisor relationship. Unlike the UFOC Guidelines, with the new Franchise Rule you'll have access to information regarding:
- Lawsuits the franchisor has filed against owners.
- The franchisor's use of "confidentiality clauses" in lawsuit settlements.
- A warning when there is no exclusive territory.
- An explanation of what the term "renewal" means for each franchise system.
- The existence and identification of trademark-specific franchise owner associations that are either sponsored by or endorsed by the franchise system.
What it Doesn't Tell you:
In a few instances, the amended Rule requires Franchisors to disclose less information than the UFOC guidelines. For example, the new Franchise Rule does not require disclosure of "risk factors", franchise broker information, or extensive information about every component of any computer system that a franchise owner must purchase. Prior to entering into an agreement with a franchisor, it's important for you to learn as much as you can about the franchise opportunity and inquire about what is expected of you. For example, if you learn from a franchisor that you will need to purchase additional computer equipment to run your business, you can budget for that expense in advance.
Exemptions:
The Franchise Rule only applies to franchise locations in the U.S. or its territories. The new rule does not apply to franchise buyers investing $1 million or more initially or franchise buyers who have been in the business for at least five years and have a net worth of at least $5 million. Business opportunities will no longer be covered by the Franchise Rule, instead they'll be regulated by a separate Business Opportunity Rule which was approved by the FTC in January 2007 and is currently in the process of being finalized. Business opportunities that were formerly covered by the Franchise Rule remain covered under an interim Business Opportunity Rule, until the revised proposed Business Opportunity Rule is enacted.
A Rule for the Future
In a reflection of the digital age, the amended Franchise Rule allows franchise companies to deliver the disclosure document to franchise owners electronically (via the franchisor's website, e-mail, or CD-ROM). The new rule also provides solutions to problems, inconsistencies, and inefficiencies that existed in the original Franchise Rule. When you are deciding which franchise is right for you, be sure to take the time to review the information that's provided in the Franchise Rule.
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