investment at stake. If you are a first time franchise purchaser, where should you begin? The answer is not easy; every franchise is unique and there are hundreds of characteristics to review. That said, certain characteristics keep popping up when we examine the best franchises. Here are SmarterFranchiseÆs signs of a great franchise concept. 1. Multi-unit Ownership The proof is in the pudding. The best indication that a franchisee is happy with his business is if he spends more money to purchase another unit or an additional territory. The logic is the same as why Honda has such a strong reputation in the car market. If your uncle Jeff has bought three Accords in a row, Honda must be doing something right. For the most part, multi-unit owners start with one store which becomes so successful that the want a second and so on. In order to finance a second store, a lender will examine the first storeÆs cash flow. If a franchise wasnÆt financially viable, it would be nearly impossible to open additional units. Multi-unit ownership is also an indication of operational efficiency in a concept. With some franchises, there is so much work that is impossible for the franchise owner to focus on anything but day to day operations. The book, ôThe E Mythö talks extensively about this trap of getting stuck ôworking in your businessö vs. ôworking on your business.ö Even if you never plan to open multiple units, this is an important characteristic, because more likely than not, you would eventually like to retire or at least take a vacation one day. Be wary of franchise owners who explain low multi-unit ownership by suggesting franchisees make enough money with just one unit. If there is one thing history has shown, people rarely decide they have ôenoughö money. 2. Proven Franchisor Track Record There are three items two think about when examining the franchisorÆs track record. The first is an understanding of how much risk there is that the franchisor might go out of business. Unfortunately, many of the 2,500 franchise concepts available just wonÆt make it as sustainable businesses. If you purchase one of these concepts, you may lose much of your investment. Second, the franchisorÆs track record should give you an indication about the quality of the concept. Did the franchisor own several successful stores for many years before deciding to franchise his concept or did he just decide one day that there was good money in franchising so he better come up with a concept. Third,
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Nayla Guimaraes Hair Color, Body Shape, Family Members, Father, Mother, Brother, Sister, Marriage and Affairs
Nayla Guimaraes Hair Color, Body Shape, Family Members, Father, Mother, Brother, Sister, Marriage and Affairs
Nayla Guimaraes Hair Color, Body Shape, Family Members, Father, Mother, Brother, Sister, Marriage and Affairs
Nayla Guimaraes Hair Color, Body Shape, Family Members, Father, Mother, Brother, Sister, Marriage and Affairs
Nayla Guimaraes Hair Color, Body Shape, Family Members, Father, Mother, Brother, Sister, Marriage and Affairs
Nayla Guimaraes Hair Color, Body Shape, Family Members, Father, Mother, Brother, Sister, Marriage and Affairs
Nayla Guimaraes Hair Color, Body Shape, Family Members, Father, Mother, Brother, Sister, Marriage and Affairs.
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