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Franchises - A proven Business System  by: Ernie Horning Franchises offer the first time business owner a proven and successful business opportunity. If you are looking to start your own business for the first time, franchises provide you with the greatest opportunity for success. When you purchase a franchise from the "Franchisor", and become a "Franchisee", you are not only purchasing a business, but a complete business system. Franchises have over a 90% success rate, compared to about a 15% success rate for those indidviduals starting their own businesses from scratch. Franchises have spent years developing and modifying their systems of doing business, and they pass that "trail and error" knowledge on to their Franchisees. Initial training exists for every aspect of the business, which can last anywhere from 1 to 2 weeks. Training usually takes place at one of the franchises existing locations or their corporate office. Training may consist of the day to day "hands-on" positions required to run the business, to marketing, hiring, purchasing, bookkeeping, management and supervisory techniques. Assistance is available with "demographic" reports to aid in selecting the right location. Support is also available for lease negotiation and "build outs", if necessary. Pre-opening strategies and marketing materials for newspapers, print-ads, handouts, yellow page advertising, radio and even TV ads are are complete and professional. During the first few weeks of business the Franchisor may provide its own personel to the Franchisee for assistance and support. This helps ensure a smooth opening. Additionally, once the business is open, a Franchisee will receive ongoing assistance and support from the Franchisor, not to mention support from the other franchisees, all who are all just a phone call away. Once a year or more Franchise Meetings occur between the Franchisor and their Franchisees to exchange ideas, develop new techniques and startegies, and to compare progress and profits. All of this is not free, of course. Franchisees normally pay the Franchisor an initial Franchise Fee, plus monthly royalties which can range from 3% - 12% of their total income per month. But it can be well worth it! In owning a Franchise, you are in business for yourself, but you are not by yourself! About The Author Ernie Horning is a Franchise Consultant and owner of multiple businesses. He is a former franchise owner, and writes articles for www.businessventureinc.com. (Copyright 2005-ehbvi-www.businessventureinc.com) This article was posted on February 17, 2005   View More Videos from the "Business and Finance" category: Cash or Credit Small Business Stories - My Home at Last Goal Setting Tips - First Steps Small Business Stories - Commuter Cars Corporation   Read More Articles from the "Business and Finance" Category: Groove Network. Good, But How Good? by Mike Nielsen Employee Management: A Planned and Effective Way of Running a Successful Business by Ryan Fyfe How To Recognize Your Niche Marketing Agenda by Abe Cherian Home Loans and Mortgages – One Third of Homes in U.S. Overvalued by Charlie Essmeier Weekly Tasks No One Man Business Should Skip by Matt Bacak 4 Critical Steps to Staffing Success when you Open a Dollar Store by Bob Hamilton Planning for Retirement: 7-Minute Guide by Rocco Beatrice Concerned You Will Not Retire In Comfort? by Joshua Geary The Myth About Price by Kelley Robertson What To Do When Your Project Drops Off by John Ratch << Back to "Business And Finance" Index

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