If you want to run your own business, you may want to consider a business franchise opportunity. Franchises are a popular choice for many aspiring business-owners, because a lot of the risk has been cut out of the process: your business comes with ready-made brand recognition, and the products have been tested and refined for years or even decades. Essentially, someone else has already done the hardest work involved in starting a businessand you can step in to reap the rewards.
But not all the risk has been cut out. Buying a franchise is a big investment, and not all franchises succeed in all markets. Heres a list of questions to ask before determining which franchise is right for you.
Do I have the right location and market? Make sure your location is appropriate to your franchise. Starbucks and 7-Eleven, for example, are both franchise businessesbut they are successful with two very different demographics. Make sure youve picked the right neighborhood to ensure your franchises success.
What are my start-up costs? Youll have to buy goods from your parent company, as well as some other start-up costsmany franchise businesses have trademark signs,...
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