FranchiseConsulting.Net

What Is Franchising?
The evolution of franchising can be traced back to the 1850s, but franchising as we understand it today started in the 1950s and has reached almost mythical stature over the last fifty years. A new franchise opens every 8 minutes of every business day and drives over 40% of all retail business. Annually, franchising accounts for over $1.5 Trillion in sales, and employs over 8 Million people. Franchises are the most successful businesses on the planet with over 95% success rate and at the same time creating over 170,000 new jobs per year.

 

Who Buys Franchises?
The majority of franchise buyers are success-oriented, educated, family minded, corporate people. As corporations switched their focus from employees to investors, they realized how expensive their senior level employee had become and they began down-sizing their mid and upper level managers to save money and improve investor stakes in their companies. This growing number of outstanding corporate managers are now the driving force behind franchising and represent a constant stream of qualified franchise buyers through Murphy offices.

 

The Franchise Buyer
A 25 year study conducted by the International Franchise Association pinpointed the "Typical Franchise Buyer". Franchise buyers will come from all walks of life, educational and economic backgrounds, but some of the typical qualifications are:

 

  • Between 35 and 55 years old
  • Corporate Management Background
  • Income Avg. $80 to 150K
  • Net Worth of $300 to $800K
  • Majority Have IRA/401K Retirement Plans
  • Men, Couples, Women in that order
  • Most Have Not Owned a Business
  • Want to Build a Business That Will Allow Them To Retire
  • Looking For Ongoing Marketing, Training and Support.
Franchising is a terrific way to turn a company into a regional, national, or international sensation.  But you will need a solid concept, adept management, and the financial resources to be profitable.

By franchising........

1.  People will pay you for your proven business model so that they, too, can run a profitable operation

2.  People will pay you ongoing royalties based on their sales.

3.  Your concept can grow regionally, nationally, or even internationally.

4.  You are creating a viable exit strategy for when you are ready to retire.

5.  You are following a business model that has worked for more than 50 years, for the most part, very successfully.

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