Franchise Opportunity Information CenterThe franchise universe offers a variety of franchise opportunities in a myriad of franchise categories encompassing everything from advertising franchises to home based franchises to women's franchises.
The Franchise Information Center at America's Best Franchises will provide Franchise Opportunity Information that may be relevant to your search for a franchise and provide answers to Frequently Asked Questions as they relate to our Directory of Franchise Opportunities, Franchise Businesses and Business Opportunities.
Additionally, we'll feature franchise articles, profile franchise and business opportunities and cover franchise business strategies that an entrepreneur needs to know to start and run a franchise.
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Question:
Home Based Franchises in the Adult Entertainment Industry give you an opportunity to participate in one of the largest, most profitable industries on the internet. The Adult Entertainment industry had annual revenues of $13.3 Billion in 2006 in the U.S. alone.
NJOY NOW is the premier distribution franchise offering Prepaid Adult Internet Access Cards. "Privacy is Priceless" and that is the focus at NJOY NOW. Anonymous access to online adult sites.
Customers simply buy a 30-day NJOY NOW card at their local retail store, anonymously login to NJOYNOW.com and get in on all the action – adult videos, online games, humor & news columns, and much more. No privacy risks, no credit card numbers, no e-mail addresses – only the best anonymous online adult entertainment.
NJOY NOW franchise owners enjoy as much as 200% profit on all cards sold in their exclusive distribution territories. This is a simple home based business franchise supported by a franchise sales training program and compelling marketing programs. You simply, place NJOY NOW cards in convenience stores, liquor stores, newstands, gift shops and sit back and enjoy.
Take a serious look at this home based franchise.
Request Info from NJOY NOW FRANCHISE
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Question:
Owning and operating a successful franchise will require that you make the right choice from the beginning. Buy a franchise that is a good fit for who you are and provides you an opportunity to achieve your goals. Fortunately, if you do a proper self-examination and follow some of the processes provide here, you can make the right franchise choice.
Success in franchising is all about you.
Your likes and dislikes, fears and motivations, how you interact, work, and how you deal with problems, are pivotal factors in franchising success. Know yourself first.
Here are ten secrets to franchise success:
1. Know your passions
If a person is passionate about something, they're usually good at it. Follow your passions. Understand the difference between a lifelong passion and a runaway whim. False desires lose momentum. Passions are forever. Choose a franchise that works for you.
2. Know yourself
Take a look at your life. What are your motivations, patterns and habits? What makes you happy? Will a franchise satisfy your inner most desires? How do you feel about managing employees? What role would you prefer to play in your franchise?
Know your fears. Fear of success is as common as fear of failure.
Understand your strengths and weaknesses. Self-knowledge lets you make successful choices.
3. Know your support system
Franchisors offer ongoing support such as training, setup and marketing advice. Choose a franchise that offers the type and amount of support you need.
Franchisor support is only half of the problem. Are your family and friends offering their full support of this venture? Listen to their advice and make sure they see the value of this decision for you. Sometimes it's hard to see the forest through the trees.
4. Know your skills
What are you good at? Ask others to help identify your skills. Apart from your unique skills and talents, here are five basic skills you'll need as a successful entrepreneur:
1. Communication - talking, listening
2. Research/Planning - information analysis, forecasting
3. Human Relations - motivation, support
4. Management/Leadership - delegation, problem-solving
5. Work Efficiency - cooperation, meeting deadlines
You already use these skills. Which are your strongest?
5. Know your risk tolerance
"Risk tolerance" is the amount of uncertainty investors can handle, in regard to negative changes. It varies with age, family, income needs and personal goals.
Even the most successful franchise business will have down times. Can you handle that level of pressure and work through it with a positive attitude?
6. How much can you afford in a franchise?
A franchise is an investment. In fact, second to your home, a franchise may be the largest investment you will ever make. Even with financial assistance and support, you'll need at least $30,000 in startup capital. You may not break even the first year. It's part of business, but can you afford it?
Invest in a franchise you can afford.
7. Know your franchise
Knowledge is confidence. Research the product and examine the value of the services you will be providing. How to they stand up to the competition? Will you enjoy selling the franchise product or service? Do you like your customers? Do you believe in the product?
Curves, a fitness/support franchise for women, is successful because franchisees are often former clients. They believe in the product and service they offer.
8. Know your work
Ask a franchise owner if you can shadow them for a week. Work at the franchise. Do you feel enthusiastic and energetic, or discouraged at the end of the day? Is this something you could be passionate about for the next 10 years?
Be a customer. What do you like or dislike about the product, premises or customer service?
9. Know your goals
Identify what you want in life and what you want from this franchise. You've heard the question: "Where do you want to be in five years?"
Answer it.
A goal is a focal point of achievement. It defines personal success. If you don't know what you want, how can you be successful?
Set daily and long-term goals. Achieving daily goals is the key to long-term success.
10. Know your potential.
Margo Chisolm was an overweight, bulimic, drug-addicted alcoholic. Her life was a wreck. Yet, in her forties, Chisolm climbed six of the highest mountains in the world.
Everyone has the tools to succeed. If you have the passion, you have the potential.
Know who you are, and make secure choices. You're already on the road to franchising success!
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Question:
The Franchise Business is just one more area where women are seeing tremendous success today. The opportunity for women in the world of business has really turned the corner over the 30 years. Women command some of the highest salaries in corporate America. However most of us don't hold the keys to the executive washrooms of corporate America. The opportunities for us to show off our business skills, and reap the rewards, are abounding in franchise opportunities. The franchise business is our best bet to fulfill our dreams of succeeding in business, while being our own boss. The franchise business allows you to have control over your future with a proven system, and a co-op advertising campaign that you could not sustain on your own. All this adds up to a great opportunity for you; as a women, to excel in the world of business.
The numbers are staggering when you stack up the success of franchises over other types of businesses. The growth of franchising over the past 30 years has been nothing but phenomenal. Arthur Andersen surveyed the franchise associations of 39 countries around the world. It asked them about the number of franchisors and franchisees in each country, their country's total domestic retail volume, the percentage of that volume provided by franchising and similar topics.
"The survey found that growth potential for franchising worldwide is exponential. The global market is far from saturated," says Leonard Swartz, worldwide managing director of franchise services at Arthur Andersen LLP.* Accounting firms, professionals, and even the U.S. government agree, franchising is a good bet. No matter what the economic conditions, franchising makes good business sense.
Franchise Statistics
- Women owned an estimated 25% of U.S. franchises in 2005, according to a report by the International Franchise Association. This figure is up from 8.5% in 1995.
- The IFA reports that women have founded 23 franchise systems in the U.S.
- In 2006, there were an estimated 10.4 million privately-held businesses owned by women.
- The 10.4 million women-owned and equally-owned firms employ 12.8 million people and produce $1.9 trillion in sales.
In the United States, according to Franchising in the Economy, 1991-1993, a study done by the University of Louisville, franchising helped to lead America out of its economic downturn at that time. The study showed the total number of business format franchises increased 5.36 percent from 1991 to 1992 and 6.95 percent from 1992 to 1993. Total sales by franchises increased 4.7 percent from 1991 to 1992 and 8.3 percent from 1992 to 1993.
Now is the time to make your mark in the world of business. Your income is limited only by your your personal commitment. You could even expand your business, with an international footprint, in most franchise opportunities. Of course in today's economic situation, diversity can best be achieved by creating an international footprint, and taking advantage of the currencies abroad. Today is the best time to take control of your future. As an entrepreneur, the franchise business is your best bet.
* Arthur Andersen LLP
Women's Franchises
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Question:
Franchises are diverse in their offerings and give virtually anyone from any walk of life the opportunity to open their own franchise business. Finding the right franchise opportunity for your particular lifestyle, skill sets, and interests is a challenge but their is a franchise model for you.
In fact, its the sheer variety of franchise opportunities that entices most of us to inquire about owning their own business. You may frequent a fast-casual franchise like the smash-hit Smashburger and want to own one. Your experiences at Starbucks may make you want to own a coffee shop franchise.
There's a franchise for you!
Whether you're a millionaire or fresh out of college there's a franchise for you. Most people feel franchise ownership requires a huge capital investment. That is simply not the case. Franchises start at around $10,000 and can reach investment levels of several million dollars.
Variety opens up a potpourri of franchise opportunities from fast-food restaurant franchises to vending opportunities, to home service opportunities and franchise opportunities that allow you to work from home. Most people will find there is a franchise opportunity that will appeal not only to their passions but to their budget as well.
Franchises will offer you an opportunity to own your own business. Choose wisely and do your research and expect to work very hard to become a success.
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Question:
Franchises can benefit from company-owned stores with invaluable and ongoing insight on the home front rather than going into a national market cold with a franchise system. Smashburger the fast-casual burger restaurant is following that pursuit by opening its fifth company-owned location in the Denver area.
Smashburger spokesman Joe Hodas said that while the burger restaurant also plans on storming the national front, Smashburger will focus its growth model on its corporate-owned stores and joint-venture partnerships instead of soley on franchises.
"It's easier to start things on your home turf rather than going to a market cold where you might not have the connection, the input and the lay of the land that you would in your own backyard," Hodas said. Denver has proved itself to be a very strong launching ground for national fast-casual restaurants."
Company-owned stores can also serve as the training ground for franchisees as well as launching new untested products. There is no point in inflicting a poor performing product onto a chain of 100 franchises.
Go to Restaurant Franchises
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Question:
The New Franchise Rule will Provide Franchise Buyers with More Information
July 1, 2008 - The franchise industry has changed considerably even in the past few years, but the Federal Trade Commission (FTC) Franchise Rule that governs the industry hasn't undergone any changes since it was originally created in 1978. In an effort to streamline the Franchise Rule to make it more similar to the, Uniform Franchise Offering Circular (or UFOC - the official document franchises use to disclose information about their business to potential buyers), the Rule is undergoing a transformation. The amendments to the Franchise Rule were announced in January 2007, and as of July 1, 2008 all franchisors are required to comply with the new regulations. As a result, prospective franchisees will have access to more information about the franchises they're considering buying than ever before.
Some of the 23 Items Included in the New Rule...
The purpose of the Franchise Rule document is to give prospective franchisees the information they need to evaluate the risks and benefits associated with investing in a particular franchise so they can make an informed decision. Under the Rule, franchisors must provide all potential buyers with a disclosure document containing 23 specific items of information about the offered franchise, its officers, and other franchise owners. Some of the required disclosure topics include:
- The franchise's litigation history including material lawsuits pertaining to the franchise relationship that have been filed by or against the franchisor.
- Past and present franchise owners and their contact information.
- The amended Franchise Rule requires disclosure of a franchisor's use of confidentiality clauses that prohibit or restrict existing or former franchise owners from discussing their experience with prospective buyers.
- Any exclusivity of territories that comes with the franchise.
- Assistance the franchisor provides its owners.
- The cost of purchasing and starting up a franchise.
- If a franchisor makes representations about the financial performance of the franchise, this topic also must be included, as well as the material basis backing up those representations.
How is the New Rule Different from the UFOC Guidelines?
Although the new Franchise Rule is similar to the Uniform Franchise Offering Circular (UFOC) guidelines, it requires franchisors to provide more extensive disclosure information regarding certain aspects of the franchise owner-franchisor relationship. Unlike the UFOC Guidelines, with the new Franchise Rule you'll have access to information regarding:
- Lawsuits the franchisor has filed against owners.
- The franchisor's use of "confidentiality clauses" in lawsuit settlements.
- A warning when there is no exclusive territory.
- An explanation of what the term "renewal" means for each franchise system.
- The existence and identification of trademark-specific franchise owner associations that are either sponsored by or endorsed by the franchise system.
What it Doesn't Tell you:
In a few instances, the amended Rule requires Franchisors to disclose less information than the UFOC guidelines. For example, the new Franchise Rule does not require disclosure of "risk factors", franchise broker information, or extensive information about every component of any computer system that a franchise owner must purchase. Prior to entering into an agreement with a franchisor, it's important for you to learn as much as you can about the franchise opportunity and inquire about what is expected of you. For example, if you learn from a franchisor that you will need to purchase additional computer equipment to run your business, you can budget for that expense in advance.
Exemptions:
The Franchise Rule only applies to franchise locations in the U.S. or its territories. The new rule does not apply to franchise buyers investing $1 million or more initially or franchise buyers who have been in the business for at least five years and have a net worth of at least $5 million. Business opportunities will no longer be covered by the Franchise Rule, instead they'll be regulated by a separate Business Opportunity Rule which was approved by the FTC in January 2007 and is currently in the process of being finalized. Business opportunities that were formerly covered by the Franchise Rule remain covered under an interim Business Opportunity Rule, until the revised proposed Business Opportunity Rule is enacted.
A Rule for the Future
In a reflection of the digital age, the amended Franchise Rule allows franchise companies to deliver the disclosure document to franchise owners electronically (via the franchisor's website, e-mail, or CD-ROM). The new rule also provides solutions to problems, inconsistencies, and inefficiencies that existed in the original Franchise Rule. When you are deciding which franchise is right for you, be sure to take the time to review the information that's provided in the Franchise Rule.
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Question:
Franchise territories are vital to the success of any franchise business. The size and demographics of a protected territory will very from franchise to franchise and within franchises as well. You very well may have an opportunity to negotiate the size and demographics of your protected territory. The time to address this is, of course, prior to the purchase of the franchise.
Establishing a protected territory will ensure you will not have to compete for market share for your product or services from a like franchise unit using the same brand name.
The size of the territory should be large enough to ensure at least the potential for earnings whether it be in a retail setting or by way of demand for the service you are providing. Be advised, typically, the larger and more successful a franchise system, the smaller the franchise territory will be. It will be to your advantage to proactively speak to multiples of current franchisees to determine the size and demographics of their territory.
Most important, do not rely on a verbal franchise territory commitment from the franchisor. Be sure to get all assurances in writing and get it done prior to signing the Franchise Agreement. With this in hand and an exclusive territory in place, you'll have a far greater chance of success in your Franchise Business.
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Question:
Franchising for women has almost become an industry in and of itself in 2008. Franchise models designed to benefit from the innate skills a woman posesses are cropping up across America. It's no surprise new franchise concepts, particularly home based franchises, meet the flexibility needs today's busy moms require.
FranchisingforWomen.com recently posted an article featuring Top Home Based Women's Franchises. Most of the franchise opportunities featured are children's home based franchises, cleaning franchises, business services franchises or pet related franchise businesses.
FranchisingforWomen.com
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Question:
Franchises for sale here in the U.S and franchises for sale internationally - are they the same or are their different franchise business models available abroad?
There are a variety of franchises for sale in other countries that are not available for sale in the U.S. You may want to visit FranchiseIndia.com to view some of India's top business opportunities. You will see many franchise businesses listed that are not available in the U.S.
Franchises for Sale
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Answer:
There are a variety of franchises for sale in other countries that are not available for sale in the U.S. You may want to visit FranchiseIndia.com to view some of India's top business opportunities. You will see many franchise businesses listed that are not available in the U.S.
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Question:
Home based women's franchises provide a lot of flexibility and offer a lower cost of entry. Why not be your own boss? More and more women are opening their own home based businesses. The ability to set your own hours and the ease of working at home is appealing to many. It can be daunting to set up your own home business, especially if you're planning on making your business your primary source of income. If coming up with your own company seems too risky or overwhelming; then it is best to invest in an already established and successful franchise. There are an endless number of home based franchises that are a great fit for women.
Commercial Cleaning Companies: Home based cleaning companies have been around for decades. Whether you are interested in cleaning houses, carpets, or commercial cleaning, you will have multiple franchises to choose from. Jan-Pro, Chem-Dry Carpet Drapery and Upholstery Cleaning, and Service Master Clean are some of the top home based cleaning franchises out there today.
Health and Wellness: Living in a health and wellness crazed nation has lead to an increase in home based health and wellness franchises. There are companies that specialize in healthcare for seniors if you have a strong interest in working with the aging baby boomer population. If you love children and love being around children, a home based children's franchise may be a good option. Top children's franchises include: Young Rembrandts, Club Z In-Home Tutoring franchise, Gigglemedia, Mad Science and more .
Retail: Who doesn't love shopping and gift giving? Generations of women have made a living selling Avon. Today there are more options then ever in the home retail market. It is best to sell what you love whether it is cosmetics, jewelry, or gift items. Some of today's leading home retail companies are Candy Bouquet, Filthy Rich (jewelry), Apricot Lane (women's accessories), Faces Cosmetics, and Speaking Roses (printed roses).
Pet Services: If you love working with animals then a pet based home franchise is for you. Long gone are the days of flyers advertising dog walking services. Some of the more successful pet geared home franchises are: Pet Butler, Bark Busters Home Dog Training, and Fetch! (pet setting and dog walking).
Final Tips: No matter what industry you chose to enter with your home based franchise, you will want to do a fair amount of research before you get started. You need to check that the company is reputable and understand how much you will need to invest in the company in relation to how much you should expect to earn. Review your finances carefully and make sure you can afford the investment and still have a safety net in your savings account. AmericasBestFranchises.com is a good resource for checking on the reputation and investment costs of home franchises.
The bottom line is: find something you love, do the research, and enjoy the satisfaction of being your own boss.
Home Based Franchises
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