For most people looking into starting, running, and developing their own business, franchising is the best way to go. A franchise has the ability to take the headaches and hassles out of the business development process, and it is a great way to enter into the world of owning and operating your own business. Once you own a franchise the world of business ownership is open for you to take any road you want. You can increase your franchise ownership, buy more stores of that same franchise, and take the experience you have gained and start a brand new company, or even create your own franchise yourself. In all, franchise ownership is one of the best opportunities out there.
Why a Franchise?
1) Any person who has opened up a business will tell you that getting people to know who you are and what you are selling is the hardest part about starting a business. This one item monopolizes a large amount of your starting costs in the form of advertisement and networking. With a franchise, your customers will arrive at your store front knowing what they want, why they are there, and ready to buy.
2) Starting a business takes a lot of effort, time, and money. To just name a few things that need to be considered and taken care of is: product research and development, store design, demographic study for optimum store placement, inventory, store creation and design, business license, federal and state notification, accounting for all monies earned and spent, and payroll. Unfortunately, this is just the start and a franchise will help you with all of these things and more.
3) The franchise model has money making power and longevity. The ability to stay around and make money is an ability that I think we can all agree is extremely important in any business. Forbes magazine says that Franchises are the most successful business endeavor that can be undertaken by an entrepreneur. With that type of grantee, the only question is: Which one should I open?
Best Franchises to open?
The top franchises in the United States have held their high ranking spots for many years. The top five are 7-eleven, Subway, Dunkin Donuts, Pizza Hut, and McDonalds. If you can open one of these, you are almost guaranteed to be successful. In addition, these franchises have a large amount of experience dealing with many types of business owners.
If you have the want to start a business, but the capital for many of the top Franchises is too much. The best franchises to open are the ones that have least amount of upfront costs: Jani-King with a start up cost of 11k, Kumon Math and Reading Centers at 30k, and Subway at 25K.
In the end, the best franchises to open are the ones that you are most interested in and would enjoy the most. But remember, franchising is the best kept secret of the 21st Century!
JD Files is an accomplished website developer and author. To learn more about franchises-are-the-best visit Small Business Franchising for current articles and discussions.