The Franchise List
Welcome to the franchise list. It is the aim of the site to carry a wealth of information on the hundreds of franchises that are out there. Information on over 500 different franchise opportunities is available from the A-Z franchise menu on this web site.
Some Franchise Tips
Here are some useful tips that you should consider when you are thinking of buying a franchise.
1. Get advice. There are many people who will offer you advice on franchising. Other than information supplied by the firm offering the franchise itself, it is important to get independent advice from your bank manager, a lawyer, and an accountant. You may also like to seek advice from a person who has set up a business of the same franchise that you are interested in. If doing so, I’d recommend visiting one that is located a long way from where you plan to set up, so that the person does not see you as unwanted competition.
2. Check out Franchising exhibitions. There are many exhibitions that franchisers use to showcase their businesses. Some examples include the National Franchise Exhibition in the UK, The West Coast Franchise Exhibition in California, and the Franchising & Licensing Asia exhibition in Singapore.
3. Skill sets. Think long and hard about whether you have the necessary skills to make the franchise you are buying a success. If you are a great chef then maybe mending toilets is not the right franchise for you. That said, if the franchiser offers a training course then you should not be afraid of taking on something new; just be realistic.
4. Carry out an investigation of the franchisers finances. How long have they been in business? Do they have healthy accounts?
5. Local Market conditions. What is the local market like? Is there going to a lot of competition for your business? Will there be enough people in the local area to make running your business viable?
6. Be especially careful of new franchises. Although all franchisers have to start sometime, a more established franchiser will have a lot more experience to guide you through any potential start up problems.
7. Franchise Agreement. Be sure to have everything checked out by a lawyer who is a specialist in the franchise field.
8. Don’t be in a hurry. There are a lot of franchises out there, don’t be in a hurry to choose the first one you see. Check out all the possibilities, and when you have identified two or three that you really like and feel that you can make a success of, then take time to do an in-depth analysis of them.
It is hoped that you have found these franchise list tips to be useful.