If you are thinking of starting your own business maybe you should consider purchasing a franchise. There are hurdles starting your own business such as brand development, strategic planning. Many small start-up businesses fail.
"Now, the thing about joining a franchise is that you buy into an already established brand tha... |
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Purchasing a franchise is a substantial financial commitment.
Before you invest your money there are a few things to consider. In a recent article published in Business Franchise magazine author Jamie Bishop shared his 8 tips. You can read them below, and you can also check out the full article here.
Here are 8 financial tips to follo... |
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A brand, training, marketing, systems etc. are some of the things that are attractive about franchising.
These things often make franchising appear to be a safer option. However if you are a fiercely independent entrepreneur franchising may not be right for you. Franchisors require you to understand the Franchise Code of Conduct and to co... |
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If you start an independent business it is a gamble.
You are assuming that there will be a market for a particular product or service. As a franchisee you can start out with an established brand and proof of concept.
In 2009/2010 less than half of all the new small businesses opened were still operating after 3 years. On the other hand... |
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Securing a small business loan when setting up a franchise can sometimes be daunting.
How much money do you think you will need ?
Do you require the money in advance?
How long do you think it will take you to pay back your business loan?
What security do you have available to support the loan?
Julie Ryski is the General Ma... |
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