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Frequently Asked
Questions on the Franchise Opportunity |
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What are the
different franchise types and options? |
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Why should I work with a business
ownership coach? |
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How can you provide these services at no cost to me? |
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What is franchising? |
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What can a
franchise do for me that I couldn’t do for myself? |
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How does a franchisor make money? |
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How do you
find the "hot” franchises or business opportunities? |
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What are some of the key
statistics on franchise businesses in the United States? |
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What are the
different franchise types and options? |
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Traditional retail products and
services where the customer
comes to the store |
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Mobile products and services
where the provider goes to
the customer |
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Home based businesses |
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The products and services include
over 75 industries - - - everything from advertising to
automobile repair, printing services to party supplies, real
estate to rental equipment, tanning centers to travel agents and
many, many more. For a more comprehensive list,
click here. |
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Why should I work with a business
ownership coach? |
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Our coaches offer a highly
organized and systematic approach
that has already worked for thousands of people looking to buy
a franchise business. Most of our clients learn of franchise
opportunities that they never would have found on their own.
And we provide our services at no cost to you. |
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How can you
provide these services at no cost to me? |
There is never any fee or
obligation for our franchise opportunity and ownership coaching services.
We
can provide services at no cost to you as we are paid by the franchisor. But
this only happens if
we provide outstanding service in finding you the
right
franchise opportunity. As we work together,
you will gain new insights about
yourself as well as the franchising business. You can cease to
investigate
franchise opportunities at any time with no further obligation of any kind. |
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What is
franchising? |
Franchising is a method of
distributing goods or services to consumers. The franchise system owns
the
right to the trademark
of the business. The franchisee purchases the right to use the trademark
and
business operating system.
Most people associate the word “franchise” with fast food restaurants, like
McDonalds
or Subway.
But, there are many more types of franchise businesses,
including everything from advertising to automobile repair, printing
services to party supplies and many more. |
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What can a
franchise do for me that I couldn’t do for myself? |
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A business franchise provides you with a proven business model and operating system.
Remember those old sayings about not reinventing the wheel and learning from other people’s
mistakes. People who buy franchises have a significantly higher rate of success than independent
businesses. This is due to the combination of brand recognition, proven models, training, support
and shared resources that characterize successful franchises. |
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How does a
franchisor make money? |
Usually a franchisor
charges a flat amount called the franchise fee for the rights to operate a
franchise. The fee is in addition to the costs to open the business in the
franchisee’s chosen
location. In addition, franchisors receive ongoing fees
on sales or revenues
that vary greatly
but typically are in the 6% to 10%
range. Most also collect
an advertising fee to support
advertising and other
promotional efforts. These too vary but usually range from 2%
to 4% of
revenues. |
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How do you
find the "hot” franchises or business opportunities? |
There are many successful
franchises, but not every franchise is right for every individual. Finding
a
"hot" opportunity is never our goal, nor should it be yours. Our mission is
helping you find the
right franchise opportunity. A franchise that matches
your goals,
competencies, interests, financial capability and one that you believe has
the potential to achieve the results you desire. |
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What are some of the key
statistics on franchise businesses in the United States? |
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Did you know that: |
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Franchise businesses account for approximately 40% of all retail sales in the United States. |
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1 out of every 10 business is a franchised business. |
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A new franchised business is opened every 8 minutes of every business day. |
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Franchise businesses employ more than 9 million Americans. |
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There are over 3,000 franchise companies with distinctive concepts operating in the U.S. |
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More than 19 unique industries use franchising to distribute goods and services to consumers. |
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Total sales by franchised businesses are projected to reach $2.4 trillion, this year. |
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About 80% of franchises are local or regional brands, while only 16% are global or national franchises. |
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53% of franchises are owned by multi-unit franchise owners. |
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Statistically, franchises tend to have lower failure rates compared compared to independent businesses due
to the combination of brand recognition, proven models, training, support and shared resources. |
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In 2023, the average gross annual income, before taxes, of franchisees was in the $98,000 to $109,000
range, with over 40% of franchisees earning over $150,000 per year. |
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