It’s estimated that a new franchise opens every eight minutes in the U.S.-and with good reason. The American franchise industry accounts for 40 percent of all retail sales in America.
What Is A Franchise?
The U.S. Small Business Administration says that generally, a franchisee sells goods or services supplied by the franchisor or that meet the franchisor’s quality standards.
Starting Up
If you’re thinking of starting a franchise, analysts suggest taking a look at the local market and deciding what consumer needs exist. That’s one reason many people open auto-related franchises. There are millions of cars in the U.S. and one franchise company, called 1-800-Radiator, estimates that any car older than seven years and with more than 50,000 miles is a probable candidate for a radiator boil over.
The company has turned that fact into profits and it now has franchises across the U.S. The company arranges fast and inexpensive radiator delivery by providing radiators within two to three hours. Their customer base is made up of auto parts stores, mechanics and auto repair shops. In just 13 years, 1-800-Radiator grew from a $3...
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