Franchising is a new business opportunity
Are you bored of your daily nine to five job? Do you wish to quit such a mundane job and do something exciting?
Business franchising dates back to the eighteenth century - a popular example being John S. Pemberton's successful franchising of Coca-Cola. In regards to contemporary franchise chains, McDonald's is undoubtedly the most successful worldwide, and has more restaurant units than any other franchise network.
Franchising is a unique business process and has resulted in the formulation of a huge network of franchises. It is important to consider that the franchisors collect royalties on the gross sales of units and not on the profits.
If you are looking to start a franchising business and working for yourself, here are few advantages of franchising someone else’s business that you should consider:
Advantages of franchising:
While running a branch of someone else’s business, you are provided with a blueprint of business plans and strategies that have been tried, tested and proved to be successful.
You are bestowed with the experience of running an established brand which otherwise you would have gained after some years.
Many of the major banks support such business opportunities. Such banks are willingly to provide you with a loan to start such a business to cover the start-up costs and the franchise fees. This means that you are more likely get a loan for franchising than for any other business set up that you wish to start on your own.