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If You Buy A Franchise
Go to a Bookstore or Library. There are many magazines that will answer your question.
Many years ago, I used to sell franchises for a franchise marketing company. If I were to give one piece of advice, it would be to choose a franchise that the actual day-to-day work matches your skill sets and personality. A fast food franchise or a vehicle repair franchise is great for some, and a terrible choice for others. The other main consideration should be how well your personality matches that of the franchisor. Bad chemistry is the number one reason for people getting fired, and it is a big reason why people often have problems with a frqnchise they bought.
What would work well for me, might not work for you. Assess who you are first.
The more obvious is to pick one that actually gives you something for your money. Some franchise offerings are a terrific value in the support and training, others exist to sell you products and collect a fee.
Ron - you might want to take a peek at Market America's Unfranchise. Like a franchise, they have a proven business system that creates significant residual income (100K - 300K or more) for those who follow the system. Unlike the traditional franchise, there is no large initial investment, no royalties and no territorial restrictions.
Contact me for more information.
I am currently considering offering franchises for ink cartridge refills. This is a HOT market and I have the machine that anyone can operate, marketing materials etc.....In todays economy, saving people money is a great business. We offer WALKIN, while you WAIT ink refills. Don't just go buy a machine, many of the machines on the market require a lot of labor, with our state of the are equipment and marketing materials will sell itself.
Our equipment beats all the others HANDS DOWN. Anyone can run it, fully automated and we GUARANTEE every cartridge we refill.
The customer can even watch as we refill their cartridges.
Have you checked out www.franchisegator.com ???
They have a great listing of franchises to choose from. You can sort your search by cost, industry, and even location. It is well worth the time to investigate just what is out there. You will find opportunities that will suprise you.
I hope this helps,
Looking at franchises on line can get serioously mind numbing. But there is not any one definitive place to go to learn about which ones are the most successful. Nevermind "hot" franchises. Those ceramic painting franchise were "hot" at one point in time. No one wants them now. Even Quizno's, which we all know of, has been on the SBA's watch list. They have so much litagtion against them intiated by franchisees. My franchise lender with not touch them.
I could write a book, and have writen many articles, about what makes a franchise good. If I had to pick one thing to measure whether or not a franchise was successful it would be it's franchisee success rate. If you can find a franchise that has had 95% success rate over the last three years, you can pretty much count on you being successful in the business.
Having said that, yes there are some rather hot franchises. Cartridge World has been doing growing fast and is very successful for the past 5 years.
Just a quick finanl note, Market America's Unfranchise is an MLM.
what are the best ways to determine a franchise's success rate?
The weight loss or health industry is very hot.
I know one very hot franchise and it is spectacular.
For get best franchise,first search about it on the internet for kknow about it's value in the market.
By this way you can also refer it's reviews also and it will help you to get best franchise of the market.
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Actually that's not what I mean at all. Franchising rocks and has a lot of upside. I'm interested in purchasing a franchise in any industry. What are currently the best markets to acquire a franchise in? Any hot suggestions?