Franchising affords you the "fail-soft", NOT FAIL-SAFE, opportunity to be in business for yourself, but not by yourself. Franchise Profiles International is creating this online library & resource center to provide you with the most comprehensive franchise investigative and educational tools to help you find the best franchise "match" available in the world today.
While we certainly have a few favorite franchises systems for you to consider, Franchise Profiles does not "broker" any franchises at all. We do however present certain franchises as shining examples of the generic characteristics to look for in any franchise that you may consider. We also provide some very important details about what a franchisor is looking for in an ideal franchisee profile.
The real key to successful franchising is getting accurate and current franchise educational information. Franchising is not a complex investment if you understand franchise basics. We provide a tremendous amount of critical initial information at no cost or obligation to you. Franchising provides a more secure path to business ownership and financial independence. But you must do your part.
You must be capable of being a business owner. You must be willing to dedicate more time than a "normal" job requires during at least the first year. Your family must be very supportive of your decision. You must be willing to become a student again. You must know or learn business basics as well, which means for one thing that there are no "get rich schemes" in any franchise system. Franchises are by nature very strictly regulated investments and rarely "cash cows" out of the shoot.
These regulations are intended to protect you, the franchisor and all the other franchisees in the system. Franchising, while government regulated, is part of the American Free Enterprise System and is not an employee-employer relationship. The contract (Uniform Franchise Offering Circular) must disclose all material facts, terms and conditions. Remember, if it's not in writing, it doesn't exist.
Before you start your quest to find the best franchise, you must commit to writing your objectives and goals. Then, you must identify your specific "wants and needs" in a business, including your "don't wants and don't needs". Next, you must read lots of untainted, unbiased franchise materials so that you are familiar with the true nature and scope of a franchise system. Finally, there is no substitute for due diligence! Do your homework. Investigate thoroughly before you invest.
If all you want from a business is to have job you can't be fired from, then just about any well advertised franchise opportunity will do. However, if you want an exciting, challenging and profitable alternative to today's unpredictable and unsecure career and workforce choices, then only about 10% of the franchise opportunities will fulfill your investing goals.
A final word on finding the "best" franchise. This is the new century, we are all smarter than our parents. If you are going to buy a franchise don't fall for lists and rating reports published in a commercial advertising publication. And, don't fall for the broker's line that "they selected only the best companies to sell". It's still a commission sale to them. Even some stories about franchise success are provided by publicists hired by the franchisor. Publicists make a lot of money by writing very cleverly disguised "newsworthy" press releases.
The only real test of the "worthiness" of a franchise opportunity is a complete and thorough investigation of the franchise system. This means spending money up front to visit or call as many franchisees of that system as necessary (five to ten), to engage a real franchise attorney to assist you and to compare that system to several other franchise systems in the same industry.
Never allow any salesperson, attorney, banker, accountant or well meaning friend or family member to make the decisions for you about investing in a business. It's your money and your future, not theirs. If you are paying them, pay them for advice, not decisions!
The risks and the rewards of owning a franchise business are much more satisfying if you take complete charge of the project. If you don't or can't, then you probably shouldn't be going into business for yourself at all!
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