A franchise can present a great opportunity for business
by Derrick Kaldenbach
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A lucrative option for starting your own business is that of opening a franchise. For a set fee, you purchase the rights to offer specified goods or services, according to set guidelines, in a set location, for a specified timeframe.
In purchasing franchise rights, you have bought a proven method for operating a business and that method has been tried and proven to be successful in certain markets and geographic locations. When purchasing franchise rights, you have to sign a contract to offer the specific goods or services, according to the contract specifications.
McDonalds, Wendy�s, Burger King and KFC are widely recognized and popular franchises in the food industry. Franchises are not limited to the food industry. There are franchises available in almost every industry.
Molly maid and Roto Rooter are only two of the many franchises available in the home repair and service industry. Franchises can also available in the car service industry. You can find every kind of franchise business from car washes and oil change businesses to gas stations and convenience stores.
Because all of the groundwork is already done, and the methodologies are proven, Franchises are a great way to go into business. The formula is already verified to be successful, which means that if you follow the specific steps, and adhere to the agreement, you�re bound to achieve the same level of success.
A few things you have to know when you are considering the purchase of franchise rights include:
� How much money will you have to invest? The purchase the franchise rights can be expensive and you may need to get a loan.
� Are there monthly or annual franchise fees involved?
� Will you be granted exclusive territorial rights to the area?
� Will you receive support from the corporate office and, if so, how much?
Research is a must if you�re considering buying in to a franchise to start your business. There are many other things involved and that must be considered before you make your decision.
While franchises can be great business opportunities, you have to do your homework in preparation. You should never go into a franchise deal without taking the proper precautions and finding an opportunity that gels with you and your personality. ------------------------------------------------------------------
Derrick Kaldenbach is the webmaster and developer of Franchise Ins , a practical resource for Franchise information. For more information about buying, owning, and running a franchise, go to http://www.franchiseins.com/