Tuesday, February 19, 2013

Your Million Dollar Idea Could Be Somebody Else’s

Everyone is searching for a million dollar idea.  It’s interwoven in the fabric of the American Dream, where the goal is to be as successful as you want to be.

Let’s be honest – there are only so many ideas that are going to hit “the big time.”  Many people have tried, and many people have failed. So, what if you could capitalize on an already successful business idea?

That’s the beauty of franchising!  You actually have the opportunity to achieve success from a proven, time-test business model that has predictable future results.  Franchising provides a very transparent due diligence process with the franchisor and existing franchisees.  The franchisor WANTS YOU TO SUCCEED – because they will succeed as well!

As part of the research, you’ll have the opportunity to ask a lot of questions about all aspects of franchise ownership within that particular system. You’ll be able to glean insight on both the successes, and failures of franchisees with similar backgrounds and market locations.  You’ll also be able to gain information on the support of the Franchisor, investment level, and your potential return on investment.

One of the biggest advantages to franchising is that you’re buying the tested operating model of the franchisor.  When you open your business on Day 1, you’ll be equipped with a system and process to apply to the operations of the business, including marketing and management.

Franchising, however, is not for everyone!   Because there are over 3000 different franchises to choose from, finding the right fit may be cumbersome.  In addition, some don’t find value in the payment of an initial franchise fee and on-going royalties.   Here at FranNet, we can assist you in recognizing the advantages and disadvantages of franchising, as well as finding the right fit.

If you want to learn more, feel free to contact us directly for discussion, or attend one of our upcoming events giving you the opportunity to hear from actual Franchisors. Join me in Grand Rapids on March 21st at 2pm for “Meet the Franchisors – West Michigan Franchise Forum,” a free, no-obligation seminar that puts you in the same room as Michigan Based Franchisors that have availability in West Michigan. Presented along with Buy Michigan Now!, you’ll get to learn more about specific franchise concepts, funding, operating systems and more that will get your entrepreneurial juices flowing!  For more information, please visit michiganfranchiseforum.com.  You can also contact me with any questions at 616-891-1374 or bbetser@frannet.com.

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