Have you ever thought maybe you wanted to work for yourself? Quit your job and tell everyone you are now the boss. Well with the right small business franchise you can be on your way to being your own boss, making your own rules and generating more income then you made before. This is why we love the franchise business.
If you start a franchise business, also check into a franchise business for sale as those are already proven and show years of profit. Those are going to cost more of course as they are selling for a few years multiple due to profit and years of success.
When you partner with a proven company with massive experience that will help you be better at operating or buying a franchise. The banks love it when you submit a business plan for one of the top franchises in the country as the success rate is very high.
There is franchise ideas for any industry you are wanting to get into. It will also depend on your investment budget and what your bank financing is approved at. later in this article we will talk more on the best franchise opportunity’s that you should look into.
When you start looking at working for yourself make a checklist of things you need to do to get started.
1. Contact the franchise for there franchise information packet they will send out explaining how everything works in steps.
2. Fill out financial forms at your bank and look at SBA franchise information to apply for the loan.
3. Submit application back to the franchise company to get approved.
4. Get permission to talk with other franchise owners and ask them about there success and issues they have had.
5. See what the total franchise investment will cost and add it at the bank.
6. Get approval from bank.
7. From there the franchise company will get you into training and getting the steps to open the business.
There is a great franchise magazine called franchise world that talks about everything related and involved in getting yours open. They talk about the best franchises 2017 and the best low cost franchise opportunity’s you can get involved with.
Here is a list of the best franchises to open under each category:
Carls Jr Franchises
Checkers drive Inn
El Pollo Loco
Haircare and Beauty:
Big O Tires
As you can see these are some of the most profitable franchises , but we left a lot of great ones off the list. I could write all day on the list and still not list them all. I would always check the internet for the top 10 franchises in the industry you wanted to get involved in.
I have personally been the owner of 7 franchise stores that were in the food business. It was a lot of work and i eventually failed due to the bad corporation ownership. They were more interested in the franchise royalty’s then making sure our landlords and suppliers werent subjecting us to bad business deals.
Currently i own a web hosting business and will eventually get back into a franchise business opportunity that will be affordable and provide a good return on my investment. Thank you for looking at my post and do email me with your storys on what business you are looking at and how it goes for you. Ill add you to my blog post for others to see and read your story as well.