Franchise opportunities are great! Think about it. You will be doing a business with an established company simply by completely copying their strategies without reinventing the wheel.
However, do you really know what it takes to do franchise? Number one, do you have the start up capital to do the business? Some companies have franchise fees from $500,000 to as high as a million dollars. Can you afford that? On the other hand, there are also companies that you can franchise from as low as $6,000 to $200,000 dollars. At that range do you have the start up capital to start with?
Yesterday, I was fortunate to attend a Franchise and Opportunities Expo at Riverside, California. Although I already have an existing home based business opportunity which I am doing simply part time, I went there to personally learn first hand about franchise businesses.
A lot of booths were there each of which were occupied by a company promoting their respective franchise or business opportunities. There was a coffee vending company that offered a $6,000 franchise for their coffee dispenser of Star Bucks. There was a printing company that offered $30,000 franchise. There was even a mobile photo company that offered $130,000 franchise. Max GXL which is distributed by Max International was even there too.
Even if you may not have enough start up capital, some of these companies are willing to partly finance the franchise fee. Some were willing to finance 75% of that franchise fee. So, if the franchise fee was $130,000 and 75% of which was financed for $97,500, do you have the $32,500 immediate cash to pay up front?
There were free seminars that were also going on. Oone of which I attended discussed about selecting a franchise business. That seminar I attended was an eye opener for me because I have learned that although about 75 percent of the population today want to establish a business, only 5 percent of those will really succeed.
Again, from that seminar, the speaker told us that you will not be able to have a successful business overnight. It may take time. In fact, a question was raised like, "How soon can a business owner start paying himself from his business?" The speaker said, "Probably in six months, 1 year, or maybe year and a half."
Another thing I've learned from that seminar is that the franchise fees are not just a one time fee. It may be like once a year, every two years or even every five years. And once you stop paying these franchise fees, you are on your own, and you can not have the privilege to use the logo of the mother company of your business nor the business support.
Despite the expensive cost of franchise, it does not even give a 100% guarantee that you will succeed. Again, they say, only 5% will certainly succeed. I remembered my brother who lost about $70,000 in two months when he joined a celphone franchise. After two months, my brother closed his business.
Reflecting on what I already have, I think my part time business opportunity is the right one for me. Simply by investing in a set of healthy cookware systems, the company will give you and me the privelege to do business with them. In less than two months I was able to pay off my set. The company is called Saladmaster.
On the other hand, instead of promoting coffee through the coffee dispensers which can cost you $6,000 for a start up, with Saladmaster, you will be able to promote health through healthy food preparation.
Although, each of us who are presently doing business with Saladmaster have different success levels, I have already received good sum of money in return of my investment simply by doing this part time. After all, potentially receiving an extra $300 - $800 a week is not bad, isn't it?
If you are in Southern California particularly in the Riverside, San Bernardino and Los Angeles counties, you can join us at this link: