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Franchise_Models_For_Less
| Franchise Models For Less
I read an article from the Seattle Times this week about a
Quiznos franchise that struggled for several weeks just to stay
afloat after the owners disappeared. The manager and three
employees stayed on with no pay in an attempt to salvage this
sinking ship. Things got really bad when food vendors would no
longer deliver on credit so the loyal employees were forced to
pick up supplies, such as deli meat, from the local grocery
store. See Article Here
Stories like this are not typical of franchise models, but, of
course, nothing is completely flawless. Franchises are the
hottest business model today because they provide a proven
system and product that tend to produce very high rates of
success. The downside typically comes from the high start-up
fees. A typical brick and mortar franchise can run between
$430,000 and $750,000 with the majority going to pay for the
building, equipment, and supplies. Forty percent of this cost
has to come from your own (non-borrowed) funds.
Not all franchises today are brick and mortar businesses,
however. In fact, there are many service franchises that can be
run from your home. Entrepreneur Magazine has released it’s
spring title of “Be Your Own Boss: 231 Low-Cost Businesses You
Can Start Today!” It’s packed with several franchises options
that range from $2,200 to $50,000 in startup costs and require
small ongoing royalty fees that average under 10%. A great web
site for additional information on franchise options is
www.franchise.com
If these start-up costs are still a little high, consider
starting your own service business. There are several great
ideas Dan gives in his audio Turning Your Passions into Profits.
Also, stay tuned for “Business Ideas You Can Bootstrap For Under
$500!” an e-book that will be available to all of our
subscribers for FREE in a couple of weeks.
About the author:
Jonathan R Taylor is the author of The Coach's Career Tips and
Resources. He helps his clients Love Their Work! You can
subscribe at www.careercalling.com/subscribe.htm.
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