Noticias de Franquicias
Diciembre 27, 2011
Important guidelines when choosing a franchise
A lot has been said and discussed about the best methods and steps to choose a good franchise. The subject is much more comprehensive, since what is good for somebody may not be the best for someone else, but there is not enough information all the time when choosing a good brand or industry, along with all the emotions in the process.
As discussed in the past (and we mention again some points that can’t be ignored), it is essential that you have enough capital to purchase a franchise, because all the decisions you make, or the steps towards the right choice, depend on the economic and financial capacity necessary to undertake a business under the franchise format, which is a very popular and successful system, but not for everyone.
Be realistic when choosing
A basic and a necessary first step if you realize you don’t have the capacity to meet the operation, is to choose within the range of your concrete possibilities on one hand, since there are many low investment cost franchises that may interest you. And while there are franchises that in the beginning may seem far from your economic possibilities, you should find more about funding, that although is not abundant, may allow you the possibility of an initial financial assistance, which is the most critical moment. There are also franchises that can connect you with lenders who might know that particular business and might be prone to offer you a favorable financing.
A good idea is to contact professional consultants who know where to go when looking to finance a franchise.
The system works: The International Franchise Association (IFA) has reported that in the United States alone, there are nearly 1,500 different franchise brands in operation, which have more than 350,000 franchised outlets and employs nearly 10 million people.
Don’t chose the first thing that feels right for you
Whether you have the financial capacity, you opt for a low investment or you opt for the investment that offers you the possibility of a direct or indirect financing, you have to be patient and keep looking. And when approaching to each franchise, ask whatever you feel is relevant, more than once if necessary, as the misunderstandings and false expectations don’t benefit anyone.
There are more and more possibilities for minorities to get a franchise
The business world is changing rapidly therefore it is important to focus to move forward, not only because of the recession, but by the awareness of employers to recognize minorities and their increasingly importance, so the ability for a small business to access minorities has increased significantly. The IFA itself has detected that unstoppable growth several years ago (ratified by the Census 2010), with the so called "MinorityFran" initiative where the awareness was raised among employers and prospects. Among the first, to let them know minorities could be a source of business growth and among latter to help them see the possibilities in this business.
Otros artículos del mismo mes