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mom21
Member
| Joined: | Wed Jan 11th, 2006 |
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| Posts: | 71 |
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Posted: Fri Jan 13th, 2006 08:41 pm |
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| Does anyone here have an opinion on buying a franchise? Would it be easier than starting my own business? If you buy a franchise from an established company, do you have to follow their rules about how they run the company?
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TPT
Administrator
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Posted: Sat Jan 14th, 2006 04:36 am |
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In my opinion, it all depends on what product or service you intend to offer. A franchise for a well known brand will give you instant customers, but may cost more. A franchise for smaller products, like computer repair, construction businesses, etc, may not yield enough business to cover the franchise fees.
One franchise that I have been eyeing (if I can just get a building and enough capital) is the UPS store. It's a well known brand, every business (and lots of home users) need shipping services, and the nearest one is over 25 miles away.
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Fred
Intensify.biz Founder
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wildangel
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| Joined: | Fri Jan 13th, 2006 |
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Posted: Sat Jan 14th, 2006 01:42 pm |
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I'm planning to buy a franchise of a 24 hour store and I think its a good idea. It makes a bit easier to have your own business.
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Australian Job Search
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mom21
Member
| Joined: | Wed Jan 11th, 2006 |
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| Posts: | 71 |
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Posted: Mon Jan 16th, 2006 03:15 pm |
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| The UPS store sounds like a really good idea. Do you really have to come up with your own buiding? I know at some places, like chic-filet, you just pay a certain amount for rent or whatever depending on if it is a free-standing store or inside of a mall.
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TPT
Administrator
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Posted: Tue Jan 17th, 2006 12:20 am |
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What I meant about a building is that my business is home based, so I would need to purchase or rent commercial property to start that kind of business. For my future business plans, I would prefer to purchase a commercial building for various reasons.
As for the UPS store, the last time I checked, they prefer a dedicated storefront, but they do allow a franchise to be placed in a dedicated location within an existing storefront with a minimum sq ft. That appears to be part of their program to help build franchises in rural areas. They also had a program to decrease franchise fees for rural areas.
If I were able to purchase a commercial property, I would buy something big enough to make two storefronts and run one as a UPS store (or something similar) that would generate its own revenue as well as increase traffic to my primary business.
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Fred
Intensify.biz Founder
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mom21
Member
| Joined: | Wed Jan 11th, 2006 |
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| Posts: | 71 |
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Posted: Fri Jan 20th, 2006 03:56 pm |
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| That's a really good idea to have two storefronts. The UPS store would bring customers to your location, and that would hopefully make it possible for more people to see your other business.
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