Franchise Archives - GUJRAT INDIA

21 Secrets to Franchise Business Success

1) Evaluate your tolerance for risk

Opening a new business is a scary prospect. There’s a lot of personal, professional and financial risk to consider. It’s natural when contemplating such a profound step in your career to look at ways to manage your risk and increase your chance of success.

The Small Business Administration conducted a survey that found 62% of non-franchised businesses failed within 6 years. A separate study by the United States Chamber of Commerce found that 97% of franchises were still open after 5 years.

The research conducted by these independent third party organizations clearly demonstrates that choosing a franchise business carries significantly less risk than starting a business on your own.

2) Work with what you’ve got

Making a list of your strengths is easy. But when launching a business, it’s also important to make an honest assessment of your weaknesses.

Before you get to work selecting a franchise, take the time to develop a list that honestly depicts your strengths and weaknesses as a potential business owner. Then use this profile as a tool to help with the decision making process.

Ask franchise owners questions about the duties they perform, and compare the job requirements to your profile. If the business has the potential to be a good fit, the skill sets required to run the business will either be skills you already have or skills you can learn quickly. If this is not the case, it’s best to keep looking.

If a certain aspect of a franchise has a steep learning curve but the business is otherwise a great fit, you may want to consider hiring someone experienced with that position. If this is the choice you make, be sure to include their salary and benefits in the financial business plan.

3) Remember to run the business

Many potential franchisees make the mistake of thinking they’re limited to buying a franchise in their current field. In fact, this might be the worst way to go.

Some franchises will not allow someone skilled in a particular industry to buy a franchise in that industry. For example, a mechanic may not be allowed to purchase an auto repair franchise. Skilled technicians sometimes find the transition from hands-on work to management work difficult to make, and are tempted back onto the floor to do the job they’re familiar with.

The problem with this is that you grow the business by running the business, and what a franchisor wants to see on the bottom line is growth. A business owner needs to be out networking, marketing and interacting with customers. If there’s too much work on the floor of an auto repair franchise, then the owner – even if he’s a highly skilled mechanic – needs to hire more mechanics.

Basic business skills are transferable to any franchise. If your current position involves universal roles like sales, marketing or accounting then your franchise options are practically unlimited.

4) No business is recession-proof

There’s no such thing as a business that can’t be impacted by a faltering economy.

There are, however, certain industries that are considered recession “resistant.” These are generally products and services people can’t do without no matter how much they’re cutting the budget.

The good news is there are hundreds of great franchise opportunities in recession resistant industries. The following are just a few examples:

Top recession resistant industries: Food · Automotive · Healthcare · Medical·Clothing · Education

Recession resistant franchise industries: Fast food restaurants· Automotive maintenance, parts and repair · Weight loss and fitness · Resale shops and discount (dollar) stores · Education (tutoring) and child care

5) Objectively evaluate professional advice from personal sources

Friends and family have your best interests at heart, and their advice comes from a place of love and concern for your well-being. No one would suggest making the personal, professional and financial commitment to launching a business without consulting your loved ones.

But friends and family are not subject matter experts and their advice can – intentionally or not – discourage a new business venture. The people who love you worry about what could happen if you fail, and their instinct will be to protect you from the risk.

When it comes to the final decision whether or not to proceed with purchasing a franchise, of course you will carefully weigh all the advice you’ve received. The key is to rely most heavily on the advice offered by industry professionals.

6) There’s no such thing as a free lunch

There are countless “free” franchise brokers and consultants out there claiming to offer unbiased information on franchise opportunities. They will work with you to assess your needs, and use your professional profile to help make recommendations on franchise opportunities that may suit you.

The problem with these services is that they get paid by the franchises for selling franchises. That means they are naturally only going to show you options they’ll get paid for. And in the case of high profile franchises that may offer them 2 to 4 times the average commission, there’s a real risk they may steer clients to those businesses whether they’re a good match or not.

These broker services may have access to detailed data on several hundred franchises and they can be a great source of information. Just be cautious about their recommendations, and get a second opinion before investing your money.

7) Tune out the hype

Never before was the adage “if it sounds too good to be true, it probably is” more applicable. You’re going to hear a lot of hype – good and bad – while assessing potential franchise opportunities.

Between marketing blitzes and human nature, it’s easy for success stories to spread like wildfire. Think about the guy who lost weight eating Subway – that story is so pervasive it’s become almost impossible to separate the allegory from the restaurant in the public’s perception. The hype surrounding that marketing campaign will have an impact on potential Subway franchisees for the foreseeable future.

It’s also natural for people to look for something to blame when things go wrong. Because of this there are also going to be negative, emotionally charged franchise stories in circulation. However, keep in mind the nuanced details that created such situations are never discussed; only the attention-grabbing outcomes.

No one is suggesting you completely ignore these stories, because hidden beneath the hype there are likely valuable lessons to learn. Learn from them what you can while keeping in mind what they are: unique situations with complex back stories that probably have no bearing on your success whether or not you choose the same franchise.

8) Look beyond the big brands

Sometimes it’s easy to forget there are thousands of franchise opportunities out there, because the big name brands get all the attention. When you’re in the early stages of your search, it’s a good idea to bypass the overblown marketing of the huge franchises and make an effort to learn about the “no-name” franchises in your industry of interest.

There are quite a few advantages to lesser known franchise brands. For instance, they are often cutting edge concepts that can get a lot of marketing attention. Lesser known franchises haven’t yet saturated your local market. And they’re usually less expensive to start up, which means less financial risk.

Of course, you may be looking for the security and benefits that come with a big name franchise. Criteria such as national marketing campaigns, standardized employee training, management support and strong purchasing power may be at the top of the checklist for what you’re looking for in a franchise, and there’s nothing wrong with that. But if you’re not interested in being another instantly recognizable box in another strip mall, then a ‘no-name’ franchise might be for you.

9) Look beyond the price tag

Just because a franchise is more expensive does not mean it will be more successful.

It’s important to evaluate every aspect of a franchise – financial projections, monthly franchise fees, franchiser support levels, issue response time, customer base and marketing, to name a few. The price tag is a factor to consider, but should not be the sole criterion for evaluating the quality of the business opportunity.

Once you narrow down your preference to a particular industry, conduct due diligence on 2 to 3 franchises in that industry. Gathering adequate information on several comparable franchises will allow you to make an informed decision.

10) Comparison shop

Once you decide a franchise is right for you, keep looking.

If you decide to purchase a franchise of Coffee House A, then it’s time to start looking for reasons not to buy it. Build a list of questions, and then go talk to owners of Coffee House B and Coffee House C.

Be blunt – ask the competing franchise owners why they feel their business is better than Coffee House A. Ask them what made them choose B over A and C. Ask them if they would recommend you buy the same franchise, and don’t stop digging until you’re clear on the why (or why not) of their response.

Build a spreadsheet comparing the details of the franchises. Include data such as the benefits offered, financial commitment required, estimated monthly expenses, commercial lease requirements and franchise fees.

If your franchise preference stands up to the scrutiny, then you’re on the right track.

11) Contact current and former franchisees

The best way to find out if a franchise is right for you is to go behind the scenes and ask a lot of questions.

Before making a buying decision, prepare a list of questions. Contact at least five current franchisees and make an appointment to discuss your interest in the business. Whatever else you discuss, be sure to ask the questions you prepared.

Try to arrange an all day job shadow session with at least two current franchisees. This will allow you to observe the daily operations of your potential future business without committing to personal financial risk.

Contact several separated franchisees to learn about their experience. Understanding their reasons for getting into – and out of – the franchise can impact your decision.

12) Do your due diligence

All franchises are not created equal, and it’s your job to sort them out. The information is out there – all you have to do is go get it.

Conducting due diligence on a franchise opportunity should include:

· Check with the Better Business Bureau for complaints

· Check with the State Attorney General for complaints

· Speak with the franchisor

· Request a Franchise Disclosure Document (FDD)

· Attend a discovery day with the franchisor

· Make at least 10 calls to current and separated franchisees

· Make appointments to meet franchisees and visit the operation

· Job shadow a franchise owner (or owners) for at least a day (longer, if you can)

· Repeat as necessary

The purpose of due diligence is to reduce your risk. All the steps are necessary, but the most important step is interviewing and job shadowing a current franchise owner.

Some franchise owners will allow potential franchisees to spend weeks at their business learning the ropes. They may be willing to share detailed financial data, and can confirm or refute claims made by the parent company. A franchise owner can answer questions the franchisor may be legally bound from discussing. You may be able to make assessments about your own management style or potential business location by observing theirs. Visiting operating franchises in the course of due diligence may be the single best method for evaluating your potential success with a franchise opportunity.

13) When the time is right, hire a legal and financial team

Getting expert advice on the legal and financial aspects of a potential franchise purchase is essential. Some buyers skip this step to save money, but this is not the place to cut corners. The relatively small fees a lawyer and accountant charge pale in comparison to the enormous financial loss you’ll incur if the business fails.

Bringing in the legal and financial experts too soon in the purchase process can also be a mistake. Their professional opinions are necessary and valuable, but their advice can be expensive and potentially counterproductive in the early stages of your search. It’s crucial to remember when seeking their input that they should not choose the franchise for you.

Bringing in an accountant too soon can mean paying for them to run Profit & Loss data on every franchise that catches your eye. This onslaught of numbers can cloud your judgment, particularly if they’re taken outside the context of in-depth, due diligence research on each business.

Bring in an attorney too soon can mean paying them to review the Franchise Disclosure Document (FDD) for every franchise that strikes your fancy. Studying detailed franchise information at such an early stage with a legal advisor who doesn’t understand your personality, lifestyle and professional preferences can be detrimental to your search. You could end up inadvertently being talked out of the perfect business.

Waiting to bring in legal and financial advisors until your franchise choices have been narrowed down dramatically is not just cost effective. It’s the logical way to use the team’s expert advice to your best advantage.

14) Feel the fear and do it anyway

The best way to manage your fear of buying a new business is to manage your risk. The best way to manage your risk is to learn everything you can, then proceed according to what you’ve learned.

Start the process with no intent to purchase. That removes the chance of getting so excited about business ownership that you take an irrevocable leap with the first prospect you research.

Above all, ask yourself “can I picture myself doing this all day?” If the answer is “no,” then be grateful for what you’ve learned and move on to researching a different industry.

The research and due diligence processes get easier with practice. It may take a few attempts to find the perfect franchise, but your efforts are not wasted. By actively engaging in the search, you’ve made yourself familiar with the process. And there’s no fear in the familiar.

15) Go it alone

Business partnerships are appealing on the surface because the idea of splitting costs, liability and workload is tempting. But it’s nearly impossible for any two individuals to work together as much as necessary to launch a new business without problems developing.

If it is a financial necessity to form a partnership in order to purchase your franchise, it’s crucial to define the roles each partner will play well in advance. If at all possible, try to structure the partnership so you own 51% and have the power to make binding decisions for the business.

Entering a partnership is not to be taken lightly, and should not be done without consulting your attorney.

16) Lease, lease, lease

Most franchises provide detailed specifications on the type of commercial real estate required to launch the business, and many will assist with the search for an appropriate property.

Leasing a commercial property is nearly always preferable to purchasing one. The capital required to purchase a property is better reserved to fund operating costs for the first few years. It’s also preferable to sign short lease terms with options to extend rather than committing to a long lease term.

Because many commercial leases include taxes and assessment fees buried in the fine print that can cause financial problems for your business, it is very important to have your attorney review any commercial lease before you sign it.

17) Don’t forget you’ve got to eat

One of the most common mistakes people make when working up a financial business plan is forgetting to pay themselves. This simple oversight is at the root of a lot of failed businesses.

In a perfect world we would all have enough in savings to go a year without a paycheck, and everything a new business makes could go right back into making it stronger.

The reality is we’ve all got bills to pay. It’s important to be honest and thorough when estimating the salary the business will need to pay you. Cutting yourself short will create enormous problems, especially if your fledgling business can’t afford to give you a raise yet.

This is one area where decisions you make for the business directly impact your personal life. The franchise isn’t going to do you much good if your heat’s turned off and the bank is foreclosing. Taking extra care with this critical detail could someday save more than just your business.

18) Consider alternate financing options

In the current economic climate, strict lending standards are making it harder than ever to get a commercial loan issued. When loan approval is a problem, it is worth considering your 401(k) or IRA as a resource for purchasing your business.

These self-directed retirement structures do permit individuals to actively invest their retirement funds into a business without taking a taxable distribution or incurring early withdrawal penalties. A successful use of this financing method offers the chance for a greater potential return on your money than the original investments.

Using your retirement funds to purchase a business is not to be taken lightly. But if done right, having your own business could be the best retirement plan of all.

19) Lead by example

If you’re not working hard for your business, neither will your employees.

At the end of the day, the only one who cares if your business succeeds is you. This is not the time to kick back and count the money. In fact, that attitude is the quickest way to ensure that soon there won’t be any left to count.

Even the most diligent business owners may forget that employees can’t see through the office door. They have no idea you’re calling customers, ordering supplies, writing a marketing plan, reviewing applications and trying to find a way to cover next week’s payroll. For all they know, you’re taking a nap.

When an employee sees a manager coming in late, leaving early and taking long lunch breaks they think the worst. They don’t understand that you came in late because you attended a 7 am referral group meeting. They have no idea that your lunch ran long because you were signing a deal with a big new client. It doesn’t occur to them that you left early so you could attend a Chamber of Commerce networking function.

Communication with your employees can help them see you’re working as hard as they are. Share your growth projections and help individuals set goals to meet them. Bring key employees to client meetings. Send high performing employees to networking functions in your place. By giving your employees a role in growing the business, they’ll take pride in supporting your success.

20) If you don’t love it, don’t buy it

Confucius said “Find a job you love and you’ll never work a day in your life.”

If you wake up in the morning and dread going to work, your franchise will not be successful. It’s as simple as that.

The beauty of franchising is the endless variety of options – there’s literally something for everyone. You just need to devote the time and effort to figuring out which one will make you hop out of bed every morning, happy to be doing what you love.

21) Use every resource at your disposal

Investing your personal, professional and financial future in a franchise opportunity is a big decision. Use every source of information you can find, and compare the data to make sure you’re getting the whole story.

First Right to Purchase in Franchise Agreements

In any franchise company there will be cases where one franchisee will wish to retire, cashed out of their business or sell it to someone who has offered them more than they can refuse. It is a fact of life in the modern franchise world.

Whether it is for a master franchise or a single franchised outlet each franchisor generally has either a clause in their franchise agreement for first right of refusal or first right of purchase. In my franchisee company, I could see that there were times when I wanted both clauses in my franchise agreements.

There are cases where you’ll want first right of refusal, but there are also times when you want first right of purchase. In consideration of this you may wish to add a right of first purchase in your franchise agreements. Most franchise attorneys who draw up franchise disclosure documents do use boilerplate clauses for first right of refusal. I decided in our franchise company that, that was not enough for me. Below is the additional clause that I added to our franchise agreements;

5.5 Right of First Purchase

Franchisor requires Franchisee (or Master Franchisee) to give Franchisor the right of first purchase prior to soliciting offers from a third party if Franchisee chooses to sell their Franchised Business. Franchisee agrees to notify Franchisor in writing if Franchisee desires to sell or transfer Franchisee’s interest in their Franchised Business. Franchisor must elect to exercise Franchisor’s option to purchase Franchisee’s Franchised Business within thirty (30) business days after Franchisor’s receipt of Franchisee’s written notification. If Franchisor offers Franchisee an amount that Franchisee doesn’t agree to, Franchisee may try to sell to a third party. Franchisee is obligated before any transfer to a third party to make sure that they meet all criteria set forth above under the heading “Transfer by Franchisee”.

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If you own a franchise company, you would be well advised to talk to an experienced franchisor attorney and ask them be a right of first purchase clause makes sense for your particular business and franchise model. It may or it may not there are several reasons why. I hope this may help you in your search to consider adverse potential eventualities that could harm your franchise company in advance so that you do not have to learn saying was the hard way like I did. Consider this in 2006.

Popeyes – Franchise Review

Popeyes Chicken & Biscuits sometimes also called Popeyes Louisiana Kitchen and most commonly known as Popeyes, is a chain of restaurants specializing in fried chicken and fast food. Starting its franchise in 1972, it is owned by AFC Enterprise which is a Georgia based company. Today Popeyes Chicken & Biscuits has a presence in almost 40 states with some 1800 restaurants.

If we go back to their origin and history, we will have to look back to the year 1972, when “Chicken on the run” a quick service chicken restaurant was started by Al Copeland. This restaurant serve mild fried chicken but did not meet with great success, so Copeland decided to serve a little spicier version of his chicken and soon named his restaurant Popeyes.

The first franchise was started in Louisiana. In 1984 Popeyes started spreading globally capturing markets like Canada. In a very short period of time Popeyes opened its 500th restaurant becoming a leader in the industry. Popeyes kept on growing and in the year 1993 AFC took over Popeyes. In 1996 it opened its 1000th restaurant. Popeyes has also been named “Best Fried Chicken” in many local markets.

Franchising is not just about taking royalty or using any developed brand name but it is about joining their business and helping yourself and the franchise grow. An initial Popeyes franchise fee is $ 30,000. And the total investment may rise from $ 695,500 to $ 1,008,500. The term of agreement will have validity period of 20 years.

Of course, when looking to start any business it is important, particularly considering today’s market, that you look for specific ways to cut minimize or reduce overhead and risk. Any business is going to have risk, but it is important to have a full understanding of the amount of investment, start-up cost and “ROI” (Return on Investment).

Most people are not aware that 80% of ALL franchise endeavors fail in the first two to five years leaving large debts looming for years thereafter.

One way and in my opinion the best way to cut overhead, start-up and investment cost is to take advantage of the new age of entrepreneurship and start a business from the comfort of your home. Opportunities have emerged in the online market that are creating millionaires every single day. Learn more about the exciting opportunities tied to a business model that begins profitable by visiting: http://whatsbetterthanafranchise.com.

Key Factors to Consider When Buying a Travel and Tour Franchise

If you are considering investing in a travel and tour franchise, it is likely that you have many questions. For many people, the idea of setting their own business can be incredibly daunting experience, but also one of the most liberating experiences of their lives. In this article, we will look at some of key considerations which you should factor in when making this decision.

The travel and tourism industry is literally booming globally – now contributing over two trillion pounds to the economy. More and more people are thinking about how they can get involved in the travel and tourism industry, recognising the explosive and exponential growth. Starting your own travel business from scratch is one option that people often consider, however starting without a network of contacts or even a base starting point can be extremely tricky. A huge number of start ups will fail within 12 months, so always try to avoid this pitfall.

The more popular market to success within the travel industry is the travel, or tour franchise market. What this essentially means is instead of setting up a travel business from the beginning, you can buy a travel franchise which actually gives you a firm starting point to begin your business. There are quite a few travel franchise businesses online, however there are probably only a couple of established businesses. If you do choose to purchase a tour franchise, make sure to do your research and pick the franchise company which is the best fit for you.

So what can you expect in terms of support when you buy a travel franchise? When buying a franchise, there are always different levels of support. Think of this a three-tiered membership: platinum, silver and gold. The more initial investment that you are willing to put up, means the greater level of support and guidance that you are likely to receive. Nonetheless, there are some common levels of support which you should expect from all travel franchises.

The first thing you should expect is a fully comprehensive training or induction programme. Lots of franchise operators will actually offer a residential training course, so this is likely to be an intensive course over a number of days or weeks. This can be a great opportunity to spend significant time with the franchise tour operators and really pick their brains, whilst trying to soak up an incredible amount of information.

It is also likely that they will be inducting a number of other new franchisees at the same time. This is also a fantastic opportunity to meet some like minded people who are also at the beginning of the same journey that you are on. If you can take the opportunity to spend time with them and get to know their motivations behind setting up a new franchise, you can increase your knowledge but also begin to build up your travel network. In the travel industry in particular, your network and who you know can really be a determining factor in how well you do.

You can also expect some of the more practical tools for setting up a new franchise. This might include a laptop, hopefully pre-loaded with any specialist software and templates that you might need. This may not always be included as a standard support tool, so you should always try to make sure that you fully understand everything that is being provided. A functional website, which is branded towards your company name and logo, is also something which you expect.

Finally, you might also receive some branding materials, such as leaflets, tri-folds and business cards. Remember when you meet potential clients, handing them a business card can be a great way to exchange your details with them and keep in touch.

Key Success Factors For Starting Your Own Commercial Cleaning Franchise

Having your own commercial cleaning franchise may seem like a very promising idea, but it involves careful and strategic planning and decision-making in order to maximize your business’ growth potential.

And the first key decision you have to make is choosing the right commercial cleaning franchise.

Some franchises promise high return on investment, while others promise full advertising support. While these factors are definitely very important they are not so powerful in isolation. You have to look for a franchise that offers you ‘the full package’ before you can make your decision.

Here are the key success factors you need to pay attention to that will help you make a success of any commercial cleaning franchise.

1. The Overall Reputation of the Cleaning Business.

This makes a lot of common sense. If the franchise has a good reputation with its existing customers, you will have a much easier time getting clients of your own in your area.

You can use client testimonials and referrals to help you get started, then form your own loyal client base to keep bringing in new clients.

2. Business Development Support.

It’s important that the franchise owner gives you 100% support to ensure that your business will have long-term success. Business development support includes: training and seminars, giving advice on which locations are best for you to set up your business in, and comprehensive market research statistics.

3. Marketing Support – Expertise and Materials.

Successful franchise owners provide adequate advertising support to franchisees. You should look to be getting pre-defined marketing materials for all necessary mediums – online and offline. These marketing materials should have been tried and tested ready for you to just customise and use straight away.

This minimizes your risk of spending a lot of money on working out what marketing works in your area and what doesn’t.

4. Detailed and Tested Business Processes.

This is critical! If you are looking to buy a commercial cleanining franchise, you must make sure you are getting good usable processes with the business package. These are the things that will enable you to “hit the ground running”.

Processes create a fail-safe environment, and allow you to get on with the more important things in your new business – like getting clients – as opposed to having to worry about teaching your employees the correct way to clean a kitchen…

5. Business Goals Alignment.

You and the franchise owner should work towards achieving a common business goal. Remember, it’s ultimately a joint venture – both of you have high stakes on it.

Look for a franchise owner who immediately conveys his long-term plans with you. This means that the franchise owner is not looking for a ‘quick buck’, but is rather confident about the long-term success of the business.

6. Customer Support.

Although customer support is often overlooked, it is one of the critical elements in choosing the best commercial cleaning franchise.

Does the customer support immediately respond to your queries? Does the customer support attend to your needs? Since customer support is essential to this type of business, the franchiser should set an example.

Having your own commercial cleaning franchise requires hard work, motivation and determination. In return though, you’ll get financial freedom and the opportunity to create your own future, as opposed to working for someone and relying on their ‘good grace’.

If you spend good time preparing and researching the different aspects of owning a business, you should increase your chances of success.

Top Franchise Opportunities Up For Grabs In India

The potential for growth is immense in a number of market sectors

While many people see the sheer size and the population of India as a bane, in the world market the country has grown tremendously in stature merely because of these two factors. Increasing consumerism coupled with mammoth populated cosmopolitan centers and the sheer diversity of this huge nation has made India one of the most sought after markets, internationally.

This has helped India attract big international firms who are keen to grab a slice of India’s rich consumer pie.

Although almost every sector in India has a success story to tell on its own, there are some specific areas which are marked by an even more phenomenal growth. It is some of these sectors in which top franchise opportunities literally lure the smart entrepreneurs. The sectors include, retail, food, beverages (especially up scale coffee houses which seem to be on every market corner), beauty, Information Technology, automotive, healthcare, business consultants, marketing and textiles.

Rather than starting from scratch with an unknown product, investing in top franchise opportunities has tremendous benefits. To begin with you really do not need to begin introducing the product to the market from scratch. Business entities, which offer these top franchise opportunity, may be either nationally renowned names or hot brands that carry an international following. They have a ready brand recall.

Take for example a top franchise opportunity like a Hyundai automobile showroom. You need not worry about shouting out to the market how good a car Hyundai is. Like wise, a Pizza Hut franchise is an already known brand. All you really need to tell the potential consumers is that this store has opened and it’s going to sell Apple Macs at so and so address. You then ensure is that once the customer walks in the service is good and a red carpet is handy. A bit of base level marketing is all that is required to make sure a top franchise opportunity gives you proper results.

Big International companies which offer franchises also look after their franchisees well in terms of back up and they tend to ensure that the process of product familiarization is thorough, which makes the new franchise owner less worried about the product and more focused on selling it.

Once you are aware of these factors, its really not difficult to understand the long snaking queue of international companies waiting to offer Indian and non-Indian businessmen with top franchise opportunities in India.

Location – A Key Parameter For Starting a New Franchise Business

Starting a franchise business is the safest and easiest way to enter the business world and enjoy success. Well, once you have decided upon a new franchise business that is likely to provide a high ROI (return on investment), the next big step is to look for a good and appropriate site location to start the business. For any business, location plays a key role in making it successful and the same goes with any top franchise opportunities.

Choosing the right location to start your new franchise business can be something of a balancing act. Ideally, the location should be convenient for your customers, employees and suppliers – without being too expensive. For shops and other retail franchise businesses, location is of critical importance. The location of your franchise outlet or shop must attract customers without which no business can be successful.

Preferably, for the success of any new franchise business, it is must to find a location in an area where enough people who want your product or service can see you. This means your brand should be visible to the targeted audience. For example, coffee shops are often located in or around busy market places or malls as you targeted customers after hours of shopping can relax in your coffee shop and enjoy a cup of coffee. Plus, the location must have good public transport links and local parking facilities or spaces. Also, you may want to be near suppliers for a quick, flexible service. Deliveries may be easier if there are good road and transport links.

Another important factor to consider is that never start a business in a place that is too near your competitors, though clusters of similar businesses sometimes attracts more customers. Plus, until and unless there is scope for high return, there is no point in investing in a location to start your own franchise business. Hence, in a location where you want to start your retail franchise or any other business, there should be enough demand for the service or product you are dealing with.

As far as new franchise business is considered, most of the franchisors provide a clear outline of what they are looking for in their franchisees’ site locations. These specifications are made, in order to ensure the success of the franchisees and the company as a whole. Hence, before you start your search for a good location, it is better to ask the franchisor to suggest the type of location they would prefer for the expansion of their business. It is the franchisors only, who can provide you the best criteria for searching an appropriate location for your business. Check out the requirements of top franchise opportunities and look for a location. Now, once you have found some sites which seem to fulfill the requirements put forwarded by the franchisor, the next very important step is to get their approval. This will be done by the franchisors as they always want to see their business flourish.

With a good location to start a new franchise business, success will surely be on your side. Promote your franchise company well and soon people will get to know about your company and will become your loyal customers.