Opening a franchise?

Question

Is it smart to open a franchise? Like subway? Is it too risky or could great money be made?

Any other ideas than a subway maybe?

Answer 1

Franchises have already proven that the business concepts work and that their business ideas are valid, hence the franchisors are replicating the business through franchising. They already know that there is a demand for their products. Hence it is less risky compared to a brand new business.

They come in with a "good name" that is familiar, if not well known to the consumers. Think of a Subway franchise -- consumers already know Subway is, what are their products, and often already have an opinion of the products. Compare that to Nenita's Subs and Fries, which no one knows about

Franchises have the support of a knowledgeable management team who already knows what works, what does not work, and how to run the business. Hence, they offer training, even helping franchisees find the best location for the business. They have already studied what works in terms of the store decor and layout.

However, a franchisee application cannot be approved without proving that you have the resources and capital needed to run the franchise effectively.

Here are my recommended websites:

Franchise Times Magazine http://www.franchisetimes.com/
Franchise.com http://www.franchise.com
International Franchise Organization http://www.franchise.org/
Franchise Handbook http://www.franchisehandbook.com
Franchise Update Magazine http://www.franchise-update.com
Franchise International http://www.franchise-international.net
Entrepreneur.com http://www.entrepreneur.com/franzone/listings/fran500/0,5831,,00.html

Answer 2

Location is always the key but franchises will protect the territory of their owners so you would have to always consider that. Subway will not allow an opening to close to another owner. Franchise fees can also be very expensive. Have heard as much as 250,000 dollars. You will also benefit from national advertising. Remember also that franchisers offer training programs and benefits for employees that a small business might not be able to afford.

Answer 3

With Subway franchises you need to have around three to make decent cash. That will put you in the six figure category. Having just one would be tough. You will make around 35k a year which is about $18 per hour. That isn't horrible but you will work really, really hard for that money.

Answer 4

Franchise bussinesses are always a gr8 success provided you open them in the right place. Location is very important. Look for a prime location, it may cost you extra buck but it's worth it. Good Luck!!

Answer 5

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Answer 6

yes franchises are smart
subway is fine
half of all restaurants fail in the first 5 years
you can make lots of dough.....pardon the pun

Answer 7

http://www.plasafranchise.com/