Franchises for Boomers & Seniors
What is a Franchise?
Franchising is the practice of using another firm's proven successful business model to start a business. Franchising gives you the opportunity to own your own business while skipping some of the more detailed steps. According to the International Franchise Association approximately 4% of all businesses in the United States are franchisee-worked.
Search a directory of over 300 low cost franchise opportunities.
You can search by type of franchise, amount of investment and geographic location.
Use this franchise search directory to identify the kind of franchise(s) in which you have an interest. After which you can request more information.
Often people planning their retirement or those already retired who are looking for income are interested in franchises that have required smaller investments of capital. Home based franchises have attracted a great deal of attention as both start up and operating costs are comparatively small and barriers to entry are low. Cleaning services, travel concepts, food distribution like coffee machine services, hospitality services, etc. all can be run out of a home office or small inexpensive office location.
Search a database of low cost franchises with some startup costs as low as $7000. Franchises like:
Search a directory of over 300 low cost franchise opportunities.
You can search by type of franchise, amount of investment and geographic location.
Use this franchise search directory to identify the kind of franchise(s) in which you have an interest. After which you can request more information.
Often people planning their retirement or those already retired who are looking for income are interested in franchises that have required smaller investments of capital. Home based franchises have attracted a great deal of attention as both start up and operating costs are comparatively small and barriers to entry are low. Cleaning services, travel concepts, food distribution like coffee machine services, hospitality services, etc. all can be run out of a home office or small inexpensive office location.
Search a database of low cost franchises with some startup costs as low as $7000. Franchises like:
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Do Your Research
Make sure to allow enough time for a thorough review. This is not the time to move quickly even if you are pressured to do so. Due diligence is necessary when purchasing a franchise and there are often substantial costs over and above the costs of license, franchise fees and operating manuals. Talk with other franchise owners to get some insights on their relationship with the franchisor and perhaps get some input on some of the unforeseen difficulties you might run into.
One way to find a good franchise to own is to" talk with other franchise owners to get some insights on their relationship with the franchisor and perhaps get some input on some of the unforeseen difficulties you might run into.
In addition to checking the financials you must also check the industry, the competition, review all contracts, licenses and leases with an attorney, review employee records, customer trending, and all assets of the business.
Hire an attorney who specializes in franchise law, and before you take a second step with any resale franchise, get a copy of the contract between the franchisee and franchiser to properly evaluate what you will be faced with along the road.
Type the name of the franchise into Google search to see more information and set a Google Alert with the name of the franchise. This alert will notify you of any article that is in print or on the Net involving the franchise.
Review the financials with your accountant
If you are considering the purchase of an existing business or franchise resale, we recommend The Business Buyer Resource Center – Diomo Corporation as they have been working with purchasers for over 25 years.
One way to find a good franchise to own is to" talk with other franchise owners to get some insights on their relationship with the franchisor and perhaps get some input on some of the unforeseen difficulties you might run into.
In addition to checking the financials you must also check the industry, the competition, review all contracts, licenses and leases with an attorney, review employee records, customer trending, and all assets of the business.
Hire an attorney who specializes in franchise law, and before you take a second step with any resale franchise, get a copy of the contract between the franchisee and franchiser to properly evaluate what you will be faced with along the road.
Type the name of the franchise into Google search to see more information and set a Google Alert with the name of the franchise. This alert will notify you of any article that is in print or on the Net involving the franchise.
Review the financials with your accountant
If you are considering the purchase of an existing business or franchise resale, we recommend The Business Buyer Resource Center – Diomo Corporation as they have been working with purchasers for over 25 years.
Moving Forward
Most franchisors require a monthly technology and or marketing fee as well as taking a percentage of sales. A franchise is a business model which prioritizes scalability. The franchisor sells its brand to purchasers who often have prior work experience sometimes in the same or allied field.
The structure of a franchise network is built for support. The purchaser or franchisee works with designated professionals who help them along predetermined guidelines. Areas like operations, marketing, sales, public relations and advertising are handled and executed according to the franchise agreement.
The franchise investment is predetermined as is the monthly franchise fee so there is much less of an opportunity for unexpected financial problems to occur.
Those who start their own businesses are much more likely to encounter unforeseen problems and have to deal with them on their own. Most franchisors have identified and dealt with problems that confront their franchisees and have process for solving them already in place.
Finding the right franchise is vital to success. In most cases the franchise selected should be related to your career experience and/or interests. A successful outcome with regards to satisfaction, enjoyment, time spent and revenue earned depends, to a great extent, on this.
Disclaimer: As in any major purchase it is important to consult with your attorney, accountant and financial advisor. The information above should only be considered as a guideline.
The structure of a franchise network is built for support. The purchaser or franchisee works with designated professionals who help them along predetermined guidelines. Areas like operations, marketing, sales, public relations and advertising are handled and executed according to the franchise agreement.
The franchise investment is predetermined as is the monthly franchise fee so there is much less of an opportunity for unexpected financial problems to occur.
Those who start their own businesses are much more likely to encounter unforeseen problems and have to deal with them on their own. Most franchisors have identified and dealt with problems that confront their franchisees and have process for solving them already in place.
Finding the right franchise is vital to success. In most cases the franchise selected should be related to your career experience and/or interests. A successful outcome with regards to satisfaction, enjoyment, time spent and revenue earned depends, to a great extent, on this.
Disclaimer: As in any major purchase it is important to consult with your attorney, accountant and financial advisor. The information above should only be considered as a guideline.