Franchises for Sale
New Horizons Group are able to assist you in your quest to find a franchise that suits your needs and budget. Franchises offer an excellent opportunity to become involved in starting and operating your own business that already has a proven track record of success. Any good franchise company has developed a method of doing business that works well and produces successful results which is good news for you.
Do not just think of franchises as fast food establishments, even though these types of franchises rank in the top 10 most popular, other types of franchises include such industries as business services, retail services, automotive, building and construction, maintenance and lodging.
Advantages & Disadvantages of owning a Franchise
Advantages:
- “Owning a franchise allows you to go into business for yourself, but not by yourself.”
- A franchise provides franchisees with a certain level of independence where they can operate their business.
- A franchise provides an established product or service which already enjoys widespread brandname recognition. This gives the franchisee the benefits of customer awareness which would ordinarily take years to establish.
- A franchise increases your chances of business success because you are associating with proven products and methods.
- Franchises may offer consumers the attraction of a certain level of quality and consistency because it is mandated by the franchise agreement.
Franchises offer important pre-opening support:
- Site Selection
- Design and Construction
- Financing (in some cases)
- Training
- Grand-Opening Program
Franchises offer ongoing support:
- Training
- National and Regional Advertising
- Operating Procedures and Operational Assistance
- Ongoing supervision and management support
- Increased spending power and access to bulk purchasing (in some cases)
Disadvantages:
- The franchisee is not completely independent. Franchisees are required to operate their businesses according to the procedures and restrictions set forth by the franchisor in the franchise agreement. These restrictions usually include the products or services which can be offered, pricing and geographic territory. For some people, this is the most serious disadvantage to becoming a franchisee.
- In addition to the initial franchise fee, franchisees must pay ongoing royalties and advertising fees.
- Franchisees must be careful to balance restrictions and support provided by the franchisor with their own ability to manage their business.
- A damaged, system-wide image can result if other franchisees are performing poorly or the franchisor runs into an unforeseen problem.
- The term (duration) of a franchise agreement is usually limited and the franchisee may have little or no say about the terms of a termination.