Franchise Store

Saturday, March 20, 2010

Online Home Based Business - Mom and Pop Store Or a Franchise?

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You have a dream of owning your own business, but you don't know where to start, should you look at an online home based business, mom and pop store or a franchise opportunity.

To start a mom and pop business you would look at your home town and do some research on the variety of business already established, any skills you have, how much capital you will need to invest into the business, leasing of premises, employing staff and a whole lot of other important incidentals to consider, or you can choose an online home based business.

A franchise business has already done all the research, has an established brand name, can obtain excellent discounting on purchasing of supplies, group training of staff, back up from the parent company, and many other advantages that make it an attractive option to a budding entrepreneur.

Although the franchise option may appear to be a viable opportunity one has to take into consideration some of the down slide of buying into a franchise.

The first and the biggest hurdle when considering a franchise is the initial outlay, this is usually a large sum of money to invest. You can expect a return on your investment but that is not a short term option.

It can take several years to recoup the cost your investment.

In the mean time you also need to run the business, day to day running expenses, lease of premises, staff salaries, bonuses, incentive bonuses, long working hours, daily commute to work often in rush hour traffic, or to beat the traffic an extra early start. To successfully keep control of staff and the day to day running of the business you need to be in early and leave late.

The third option a online home based business, this offers tremendous advantages over franchise and mom and pop stores, an online home based business does not require any large investment of capital. Frustrations of commuting, dealing with disgruntled staff, irate customers, long hard hours, worries of being able to pay your bills on time are all eliminated; therefore a online home based business can offer the following advantages:

- Stress free working condition

- Flexible working hours.

- More time for your family.

- No outlay of capital or a small investment which can easily be recouped.

- Opportunities to expand and grow to heights undreamed of.

Satya das

home business opportunities

Article Source: http://EzineArticles.com/?expert=Satya_Narayan_Das

Labels: business franchise, franchise store, mom and pop franchise

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Building Your Online Retail Store Franchise

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As you may be aware, a franchise essentially enables other business owners to conduct business using your branded products, logos, and other materials.

Chances are, if you are already an online entrepreneur, you may be wondering why you would want to pursue this type of business model online. In many cases, you might even feel that the internet allows you to do everything you need to do without needing to take on franchise partners.

Among other things, it is important to realize the difference between network or affiliate marketing and a franchise. When you offer an affiliate or network opportunity, there is often no proven track record of vending success.

On the other hand, when you offer someone a franchise opportunity, you are giving them some assurance that you have a proven formula for financial successes. As a result, internet based business development may be better served if successful vendors begin taking advantage of the franchise model.

Consider that you will always need to find newer or better search engine optimization methods. Over the years, this has increasingly favored measuring how many other relevant sites point to yours.

Even if you are spending $10.00 per domain name, and have dozens of them registered, chances are some of them are not as well developed as others.

On the other hand, if you own all of these domain names, you can resell, or rent them to franchise partners. They, in turn will have the responsibility of building their site according to your corporate specifications.

Since they will be trying to make a profit, they will be motivated to give more time and attention to each domain name than you are able to.

Once the sites are built, you can also build a powerful set of linking structures to help everyone gain in search engine ranking. In addition, as more individuals land on each website, your franchise logo will gain more household recognition.

This, in turn, will make it easier for each franchise participant to earn the trust of potential customers. As with non-internet based franchises, you will have an opportunity to see first hand why people will shop with a chain like Wal-mart as opposed to a less recognized department store.

You can also offer franchise applicants everything from drop ship services to internet marketing tips and pointers. As with a more traditional franchise, you can even charge a fees and commissions for the usage of your logo and branded literature on their website.

That said, you will need to consult with a lawyer to make sure that you are in accordance with all state and federal guidelines.

Without a question, today the franchise model is useful for more than replicating a sandwich or golf club repair shop. It can be used for everything from electronic resales to the sale of home craft items.

Chances are, if you give it some though, you can think of dozens of online businesses that are successful and replicateable in the franchise format. If you have already built a successful and profitable web based presence, you may even want to consider charging others a fee for using your proven successful methods.

For more information on the different types of Retail Store Franchises and how to select the right one, pay a visit to http://www.retailstorefranchise.com

Article Source: http://EzineArticles.com/?expert=Kevin_Wynn

Labels: franchise building, retail franchise, store franchise

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Competing Against a Franchise Store in Your Trading Area

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Most small businesses in a community are afraid that a franchiser may sell a franchise in their territory or their trading area. In actuality, this is a real concern and it is a real fear. Indeed, they should worry about it.

Why you ask? It's simple, because even if you've had a business in the community for over 30 years, the franchiser has thousands of outlets, a very strong brand name, and probably a superior business model, which is more efficient, along with better marketing.

This means they get more bang for their buck, and can operate at lower costs, and decimate your business and easily win a price war.

This does not mean you cannot beat out a franchised outlet if one is established in your area, only that it's going to be a lot harder than you think, and it's not something you should take for granted. I'd like to give some advice to you, if you are not too arrogant to listen.

First off, before retirement I ran a franchising company and we franchised 187 franchisees in 23 states serving about 450 cities in four countries. Our business model was superior in absolutely every way.

We put 380 companies out of business in the local markets that we entered. Yes, most of these were mom-and-pop type businesses, many very well-established and anchored in their communities. They could not compete with us because we were a superior species. They had not a prayer.

However, I can't recall competing with a few companies that sure gave us a run for our money. Had I not been so darn competitive, they would easily taken out our franchisees in the area. Would you like to know the secret to competing with a franchise company? It's pretty simple, but I bet you may never do it because it's hard work.

You must draw a 10 mile radius around your business and a 10 mile radius around the competitor on a map. Next, you must look at where those two circles overlap. This is the target zone or battlefield. Next you need to shade in that area on the map.

Then you have to literally walk to every single resident in that area, give them a coupon, by handing it to them, and ask them very nicely to please do business with you because you are competing with another company which is coming into the area.

Tell them about your long standing service to the community. Explain your nonprofit work, your work in the service clubs, and how you sponsor the local baseball team, high school sports, and have kids, family, and close friends that are also very involved in the community.

You must literally canvas the area, as if you were a new real estate agent, or as if you were working with the Democratic or Republican Party in your area and walking precincts. That is the only way I know to compete with a strong brand name of a large Corporation that moves into your area.

Now, I am not sure how many franchising companies are as aggressive as we were. I doubt they all are, although I have read Ray Kroc's book; "Grinding It out," and some books about Tom Monahan the founder of Domino's Pizza. Both of those franchiser founders were competitive and ruthless in the market place.

You can expect that a good number of franchising companies will compete at that level. I know we did, and we went beyond that. If you're going to compete with a company like the one that I founded, you are going to have to do exactly what I just told you, or they may just take you out.

Please consider this, as the business world is the real world, it's not a fantasy land, it's not a place to play around and play games. If you want to win in business you got to want it, and you've got to go get it, you will not score those touchdowns unless you have your game plan in sync with reality of your customer and in the minds of your consumer. Please consider all this.

Lance Winslow is a retired Founder of a Nationwide Franchise Chain, and now runs the Online Think Tank. Lance Winslow believes in franchising.

Article Source: http://EzineArticles.com/?expert=Lance_Winslow

Labels: competing franchise, franchise store, trading franchise

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Tips to Find the Perfect Location for Your Franchise Store

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Create a Plan

Before beginning your search for the perfect location, make a list of what you do and do not want. Make sure to take into account not only what you want personally, but any requirements the franchisor may have. It is also a good idea to make a budget plan early so you know exactly how much you can afford to pay in rent.

Think Visibility

One of the most important location factors for a franchise is visibility. Even if you choose a great building on a popular street, if your sign is too small or your business is hidden then you may lose potential customers. Make sure your location is either highly visible from a main street, or provides the option for you to have a large, prominent sign for your store.

Target Market

Having your target consumers nearby will always be helpful to your business. For example, if your franchise sells school supplies, being near a school or popular residential area will be very beneficial. Try to determine your target market in advance by researching what who typical are, and be sure to find out what information your franchisor can provide.

Drive by Traffic

Having your store on a well-traveled street will help your business. Make sure to ask your potential landlord for data on the amount of drive by and foot traffic. Also take notice of how fast the traffic is actually moving. If the speed limit is high and there are no traffic lights very close, your potential customers may drive right by your store.

Employee Access

While looking at locations always ask yourself, “can employees access the location easily?” If candidates will have to make a large commute to work then you may miss out on highly qualified employees. Another important factor to consider is whether or not there is a large and dependable employee market nearby.

Franchisor Requirements

Do not forget to look at your franchisor’s requirements, restrictions, and recommendations before going to look at potential locations for your store. Franchisors want you to succeed and will usually offer you quality advice on what sort of location works well for your business. They may also have certain size requirements or legal restrictions that you have to follow.

(ArticlesBase SC #686936)

Roni Deutch - About the Author:

Labels: franchise store, location franchise, perfect franchise

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