The Best Franchises To Own

Franchise Business Practices Needed To Be Successful

Best Franchises To Own | Commercial Capital Training GroupMost emerging entrepreneurs see franchise opportunities as the ideal business model. After all, franchises offer the independence of true entrepreneurship, with the added benefits of built-in marketing, branding, training, and a support network from peers and the parent company. However, when narrowing down choices to figure out the best franchises to own, the options are not so clear. Some people think that the best franchises to own are those with the most recognizable brand names. But in markets that are potentially saturated, the most visible brands are not always the best franchises to buy. Before settling on a particular franchise, there are a number of factors to consider.

What Is The Best Franchise To Own?

The best franchises to own differ according to personal goals. Some people think the best franchises to own are ones that sell products that products or services at inexpensive prices and draw in customers, regardless of the state of the economy. Others think the best franchises are those which are easy to manage while generating ample revenue. Still, there are people who think the best franchises to own are those which have great growth potential, so they can eventually open and own multiple establishments and build a small franchise empire. The better question to ask is “What makes a good franchise?” Is it ubiquity? Is it the ability to make sizable profits? Popularity? Turn-key operations? Of the factors that do into deciding which are the best franchises to own, there are a few quantifiable metrics to use when researching what various franchisors are offering.

The best franchises to own offer some form of support system to franchisees. The whole point of the franchise model is to allow people to own their franchises, but have the support and communication from the franchisor to help make running the business as easy as possible. The best franchises to buy offer market research, industry expertise, and support at all levels. The last thing any entrepreneur wants is to buy a franchise where the franchisor has a “sink or swim” philosophy toward new franchisees. The best franchises to own offer a support network to enrolled franchisees, to offer help in situations where staffing is in short supply, inventory is low, or help is needed with larger issues, such as resolving human resources or payroll issues.
Franchises are usually geared toward new businesses owners, and as such should have some scalability. The best franchises to buy into have the ability to start small and grow, without reducing revenue potential. Some of the best franchises to own can be run out of a home office, where the franchisee only has to manage sales and accounting, regardless of the industry focus of the franchise. On the other side of the coin, there are large franchise operations, such as vacation resorts and hotels, which have initial investments of millions of dollars, with revenue that easily exceeds the start up costs, and allow franchisees to grow and expand their operations. There are very profitable franchises at either end of the scale, and at every point in between. The best thing is to take a hard look and compare the starting investment with the average revenue to find the best franchise which works with your budget, as well as your financial goals.
The best franchises to own are those which provide solid profit margins. However, the most recognizable franchises are not always the most profitable and rely on volume of sales over everything else. For instance, a burger franchise in a city where the market is already saturated with other burger franchises – including many from the same franchisor – is not going to make nearly as much revenue as one in a location that does not have much competition. If you want to know the best franchise to own, research the franchise’s sales and compare it to the bottom line as well as the overhead to determine exactly how profitable the business really is.
The best franchises to own are not always those that have national branding recognition. The truth is that there are regional franchises which outperform national operations in their specific markets. When researching the best franchises to own, do not be so quick to dismiss smaller, more regional franchise opportunities. Most franchises start out as regional opportunities. Even the “Golden Arches” started out as a regional franchise. Today, regional popularity can help small franchises gain national and even global recognition. Some of the best franchises to own have a strong regional base, which allows for a greater growth opportunity than national brands, which may be reaching market saturation, or may be at risk of cannibalizing territory and customers from fellow franchisees.
The best franchises to buy should offer a simplicity to their methods and practices. Ultimately, there is no such thing as a truly “turn key” franchise, but emerging entrepreneurs should look to buy franchises that offer a level of simplicity which can be built upon, rather than starting off with a number of complex procedures that can cause new owners to lose control of things quickly. Even seemingly complex franchises, such as those in the healthcare, home improvement, and maintenance industries, are designed for simplicity. Most of the best franchises to buy do not require owners to constantly work on the front lines. Instead, employees deal directly with customers and perform the majority of the operational functions, while the franchise owners work behind the scenes, managing the accounting and logistics. In the case of small franchises run out of a home office or online, operations are still streamlined to ensure profitability without the owner “burning out” due to an overload of work. Because franchises come in all sizes, it helps to research various opportunities to find the best franchise to buy that fits your managerial style and comfort level.
Earlier in this article, we used the example of how opening a burger restaurant in a location where the market is saturated will severely limit profitability regardless of how well-known the franchise brand is. Some of the best franchises to own right now offer products and services that are needed and desired by a good portion of the population, but have no market presence in a number of locations. Keep in mind that franchises are not centered around fast food anymore. Franchises offer goods and services for everything from pest extermination to salons, hospitality, leisure travel, and everything in between.
The best franchises to own should offer something more than an opportunity to make money. Franchisees should pick a field where they will enjoy what they do. People with a love of cars should look at automotive franchises. Those who love international travel should buy a franchise that specializes in organizing vacation trips. Some people get a sense of satisfaction from helping others, and for them, the best franchises to buy might be in healthcare or hospitality. The list goes on, but will a little research, there should be franchise opportunities that line up with our personal interests, as well as market viability so that the profit margin is strong. The good news is that franchises have really diversified over the years. No longer are people confined to a few types of franchises. In fact, there are franchises spanning almost every industry. If you have a particular interest, or previous experience in a specific field, try to find the best franchise that fits your hobbies or one that plays to your professional strengths.
The best franchise to own is one that can weather economic downturns by offering products and services people need and want at affordable prices, while still bringing in a decent amount of revenue. People will always need their cars repairs or their taxes were done, and small luxuries, technology, and fun activities will never go away if the economy dips a little. However, a severe crash can cause a number of franchises to go under. When picking the best franchises to buy, consider how integral the products and services are to a given location, and if the business could survive an economic downturn that takes a few years to recover from.
If we look at the historically best franchises to buy, such as fast food restaurants, we see that they are still rather profitable, even during hard economic times. While most people are quick to judge fast food as a “luxury purchase,” the truth is it is often less expensive than purchasing food at a grocery store and the time spent preparing it. Similar things could be said about automotive maintenance, home repair, and tech support franchises. The one thing in common with all of the best franchises to buy is convenience. Even in an economic downturn, time is still a very limited and valued commodity. The best franchises manage to provide goods and services at a very low price while eliminating the cost of time that would otherwise be consumed if customers tried to do these things on their own. People will pay for convenience if the overall price is kept low. Because the best franchises to buy have streamlined operations, the overhead is low, and – as they often advertise – the savings are passed on to the customers.
Among the best franchises to buy, the more streamlined ones will offer a good exit strategy for franchisees. Even the most successful franchise owner may find themselves at a point where they want to retire or explore other business opportunities. The best franchise to own should offer a way to sell the franchise back to the parent company, keep it in the family by passing it on to a relative, or by selling it to a new prospective franchisee. Having an easy exit strategy is a key factor when researching the best franchises to buy, especially if this is going to be your first business.
The best franchises to own will be completely transparent about how their business is run when they make their contractual offer. Franchisors are obligated by the Federal Trade Commission to provide a Franchise Disclosure Document. The Franchise Disclosure Document details the financial obligations of the franchisee, the franchisor will provide in return, who works at the corporate level, as well as any financial holding and partnerships the franchisor may have. This transparency protects potential franchisees from entering business ventures that go against their interests, while simultaneously protecting franchisors from any claims that they withheld information from franchisees. When the Financial Disclosure Document is issued, potential franchisees have two weeks to review the information before signing the franchise agreement. It is advised that those looking to buy a franchise hire a lawyer who specializes in franchise businesses. A franchise lawyer will go over the Franchise Disclosure Document and explain the pine print so you understand exactly what is expected of you as an owner, and what the franchisor will give you in return for your investment and enrollment into their franchise system.
Every franchise has an initial buy-in price. For that, most franchisors will give franchisees branding, training, and access to their support network, at the very least. The best franchises to buy are those that offer all of the aforementioned things, plus a potential for a much larger return when compared to the initial investment. Franchisees should not have to spend the entire first year struggling to break even on their initial investment and beating their heads against the wall to figure out how to drive sales. That goes against the purpose of the franchise model. There are some very profitable franchises that require a buy-in of over $1 million, but the payoff annually is many times that amount. By the same token, there are very popular franchises with a nominal buy-in price where franchisees will have to work very hard to keep from going into the red, due to market saturation, or low-profit margins. When researching the best franchises to buy, it should not be too hard to find out what the average revenue is and compare it to the initial investment. If you are skeptical of online figures, talk to a franchise representative or better, talk to a franchisee of the corporation you are researching. They will be happy to answer candid professional questions and let you know how long it took to turn a profit after launching their franchise operation.
The best franchises to own will be able to provide the amounts needed to buy into the franchise, the yearly fees to maintain access to branding, training, support, etc., and the average overhead and bottom line to figure out profits. Beyond that, many franchises will require franchisees to have a certain amount of money on hand as a financial cushion. Emerging franchise owners should always inquire as to whether the franchisor needs franchisees to supply funding for build outs and new construction, establishing contracts with vendors and suppliers, and if they need to pay for any additional equipment. Opening a new franchise might require external financing to cover the cost of ground-up construction, certain marketing campaigns, new equipment, and other expenses. Some of the best franchises to own provide financial assistance to new franchisees. Whether it is in the form of loans from the franchisor’s financial partners, or equipment financing, new franchisees should be able to work out a deal, so they do not have to place their personal savings on the line to launch their operations. Outside of financial assistance from franchisors, new franchisees can get funding through SBA loans and other commercial financing solutions in order to real estate, construction, equipment, staffing and other requirements in place to have a successful grand opening.

A Business Opportunity In Finance

The Commercial Capital Training Group (CCTG) offers a business opportunity that is very much like a franchise, while still offering the independence of a truly entrepreneurial venture. CCTG offers thorough training in the field of commercial finance – the most economically resilient industry in the world – along with marketing, branding, a flexible schedule, the ability to work from home, low overhead, and (most importantly) nearly unlimited profitability.

The Commercial Capital Training Group has all of the qualifications of the best franchises to own, with the added benefit of letting you work as much or as little as you want. We will give you the training, and everything you need to launch your own company, plus around the clock support, marketing, branding, and the ability to offer unique products and services that help business to grow in today’s competitive marketplace. Even the best franchises can suffer in a recession, but our business model provides the most recession-proof opportunity available.

CCTG give you the tools, training, and support to run your own business in the world of commercial finance. We will teach you how to bring business owners and lenders together to work out financial agreements that benefit everyone – including the local and national economies – while earning sizable revenue in the process. Work from an office or work from home – CCTG provides the flexibility you need and you determine your schedule according to your lifestyle.

Our team will be with you every step of the way. Whether you need clarification on something from one of our training courses, or you need assistance with a client months after classes end, we will be there. Think of us as your personal workforce. We will create your website, marketing materials, and logo to your specifications. We will do everything to make your business stand out in local and national markets. We will give you the training and tools to discuss business financing with people at all levels. From the people trying to put together agile start-ups, to the established business owners and long-time CEOs, you will be able to listen to their needs and find the appropriate financial solution to help them reach their goals.

Different Than The Typical Franchise Opportunity

The best franchises to own cannot offer all of this, plus unlimited earning potential. We will give you exclusive access to our board of lenders, a 24/7 support network comprised of people with the financial and business acumen – as well as decades of expertise – so that you can have the “turn key” experience of owning one of the best franchise models, with the added benefit of full independence. We offer all of this to launch your own business, make it yours, and enjoy the rewards of your own successes. If you would like to start your own business with solid profit margins, low overhead, full training, and support, and nearly unlimited earning potential – contact the Commercial Capital Training Group today, and see how we can help turn your dreams about success into a profitable reality.

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