Franchise Ideas!?
Not all franchises cost $1 Mil. or more and many of the "near franchises" such as multilevel marketing cost much less. My first franchise cost $7,500 and I made that much from it every month after building the business over a period of 5 years. It was a bookkeeping and managment service. Granted, I had the educational background to be successful doing it, but the point is, it was successful. Based on this point, I would recommend you find something you like to do also. You will be much more successful doing it. Given that, the cost of a franchise is a concern and what are you really buying? The name, the business proceedure, and theoretical customers. However, a franchise DOES NOT mean you will have customers. You still have to go out and get them. So what is the most successful way to get customers according to me? Find a service that people hate doing and you enjoy. There will always be a need for that and a customer. Specific examples include construction, cleaning, financial services (such as insurance or bookkeeping), and a host of other things. However, again, success is easier when its something you enjoy. The most famous example of something most people don't like to do is cook and thus a host of food franchises such as McDonalds, etc.. So what is it you would like to do that most don't want to do? Find that, and you can narrow your search for a successful franchise. My brother looked into Pizza franchises and elected to go for it on his own. He found that the food suppliers were more helpful in helping him get started than what a popular franchise would have been. He researched his market carefully and is now very successful doing it. He has since started a successful chain of Video Rental stores, again without franchising. Over the years I've kept books for and consulted with both franchises and non-franchised businesses doing the same thing. Each of them has their pros and cons of doing business. If you lack knowledge, go franchise. If you have knowledge, go for it own your own, but realize there will be a greater learning curve on your own. Also realize, that customers must be captured and sold either way you do it since most franchises don't just hand you customers.