Kansas Franchise Comparison Worksheet
Description
How to fill out Franchise Comparison Worksheet?
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FAQ
Franchise.com suggests that the expected range of return on investment of a good franchise should be at least between 25 percent and 50 percent.
Most Profitable Franchises No.FranchiseInitial Investment1Anytime Fitness$381,575 - $783,8972McDonald'sVaries3UPS Store$80,357 - $508,4724Jersey Mike's Subs$144,668 - $786,23312 more rows ?
These may include factors such as initial investment, ongoing fees, royalty rates, territory size, brand recognition, training and support, customer demand, growth potential, profitability, and exit options. You can use these criteria to create a checklist or a scorecard to evaluate each franchise opportunity.
To sum up, when looking to locate a franchise business, you must think about the four ?Cs? ? customers, community, competition and construction. Once you have identified a suitable location, one that meets the needs of your franchise, you are one step closer to achieving your business goals!
How to spot a strong franchise opportunity Low to nonexistent competition in the area. ... Thorough and strong data. ... There's no hard sell. ... The franchise has a steady growth or low churn rate. ... A franchise that will survive recessions. ... You are certain you'll love the work.
These may include factors such as initial investment, ongoing fees, royalty rates, territory size, brand recognition, training and support, customer demand, growth potential, profitability, and exit options. You can use these criteria to create a checklist or a scorecard to evaluate each franchise opportunity.
Factors to Consider When Choosing a Franchise Include: The franchise should have a good sales record. ... The marketability of your product or service is key. ... Look into the competition in your area. ... Invest in a franchise that has a lot of repeat business. ... Be passionate about the franchise.
I always recommend that people considering becoming a franchisee visit a number of the franchisor's locations in different areas to observe a variety of operators, if possible. Key things to look for include how well they run, how consistent the brand is, if there is good customer service and if the stores are busy.
What to look for when choosing a franchise A strong support system for franchisees. One of the biggest benefits of buying into a franchise is that the brand is already established. ... Investment in your potential. ... The franchisor's professionalism. ... Mutual expectations. ... Sales and business approach. ... Online reviews.
You should only franchise if it is a part of your long-term growth strategy and goals. Only franchise if your goal is to expand your brand and to build an organization to support and assist your future franchisees.
