how often does someone open a franchise and fails.
2007-07-08 07:17:24 · 3 answers · asked by krumpmaster terrell 4 in Business & Finance ➔ Small Business
People often like to reciprocate the statistics about 9 out of 10 busineses failing after 5 years, and then 50% of those remaining failing after the next five years, etc.
It makes it sound as if going into business is the riskiest thing in the world !...go back to your secure jobs and trade your invaluable, irriplaceable personal time for mere pennies.
The reason businesses fail is because people do not understand what "business" they are really in. "Making Customers" is the only business that exists on the entire planet. Learn the art and science of this one thing and you will prevail. It literally will not matter which franchise you buy into.
2007-07-08 13:07:47 · answer #1 · answered by Anonymous · 0⤊ 0⤋
Often. Franchises generally have a better record than just opening your own business, since the business plan is already laid out, they verify that you have sufficient financing, and they provide support in a number of areas. If you are considering a franchise though, it's a good question to ask - how many of the franchisees who started out maybe 5 years ago are still in business.
2007-07-08 14:48:43 · answer #2 · answered by Judy 7 · 0⤊ 0⤋
Depends upon the type of products, the region, support from the prociples,your experience etc.
2007-07-08 14:21:49 · answer #3 · answered by Anonymous · 0⤊ 0⤋