People who are looking for a business venture will probably end up with a franchise business rather than start a new business from scratch. But in choosing a franchise, it is wise not to just choose the cheapest one available. There is a reason why a franchise in Chowking or Jollibee will set you back a couple million pesos. They are already established names with an established customer base and it is almost a sure bet that you can earn money with your Jollibee franchise.. if you can afford a Jollibee franchise in the first place without having to mortgage your home.
There are however more affordable alternatives out there which are pretty good companies to invest in. It takes time and research to find the right one for you. But don't just jump on the cheapest available franchise out there. There is more to just the price of getting the franchise. More important is how the franchiser does business with their franchisee. Is the franchise company out to sell you the franchise to get your money and royalties but leave you in the cold with poor customer support, insufficient stocks, poor management or products that suddenly disappear. There are horror stories out there of people wasting their hard earned money or worse, money that they have loaned from the bank or some financing company which they will incur a debt for a worthless franchise.
A good franchise company will offer you staff and management training, will help you find a good location to setup your business and will offer advice to make your business grow. Low cost franchises often comes with a price greater that its initial price tag. So choose your franchise wisely. A little bit of research and feedback from people who have already done business with your prospective company will give you insight whether you want to do business with them or not.
7 comments:
Business opportunities often are a good alternative to franchising, especially when you don't have a big capital to invest...
People hunting for franchises must choose a franchise wisely, specially with low cost ones.
Most of the time, they don't have a well established business system.
So it's best to investigate, investigate, investigate.
Stop believing everything the franchisor or it's reprsentative is telling you.
Read between the lines, Get a franchise from ones who aren't overselling their opportunity(ies). You're franchising to invest, not to spend.
It's safe to choose a franchise w/ and already established name, if one can afford it. But if budget is your concern, then research and investigate diligently before investing:)
business franchising is somewhat enticing to people who want to learn the ins and outs of a certain business, likely being in business in general, but why people like me has to dealt with so much with royalty, are there any other low cost food cart franchisor who can provide support to their franchisee without having any royalties since they will be obtaining stocks and other inventory from the franchisor?
i want to franchise henlin i heard that it's investments can be as low as 200,000 thousand. is that for real? if it is i think it is the one for me. i have this big perspective that it'll be successful in the location i have in mind. can u give me some advice? or give me names of people who's into henlin franchise?
Yes, it can be true for Henlin but it doesn't mean that 200k is your total investment. You still have to prepare your working capital for expenditures like rent, purchases of supplies and invetories, etc...
So if you're targetting only 200k for a Henlin franchise, you will run short even before the franchise is turned over to you.
You may consult directly with their representatives.
You may visit their website at the following address: http://www.henlin.com.ph
hi mon ur comments and tips r highly apreciated and a big help 4 me tryin to invest on franchisn,wid ur help i can avoid franchise scams,so thanx a mil 2 u god bless!
This is really one of the best offer.Every company needs a successful plan to go to the top of achievements and i really love all the factors are disclosed here. I think business investments in UK is a good way to start a business. But because of the highly competitive environment, you have to just to do everything perfectly. Location is one of the major factor to look.
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