Buying a franchise is a way to reduce risk and receive support from a large network - you know what you're getting. The preliminary work has been done with well-established infrastructure, a product line in place, and a well-debeloped marketing strategy. The customer base may be set, sometimes with good name recognition. The franchisor usually provides management assistance and training and may offer financial support. The pooled resource of many franchisees allow strong promotional opportunities and group buying power.
A franchise offers less freedom than an independent business. There are many rules and procedures in place. The owner cannot change products and services. Initial franchise fees may be expensive. You need to take into consideration start-up and operational costs as well as ongoing royalty and other payments to the franchisor. The reputation of one franchisee is affected by that of others. Transfer of ownership may require approval of the franchisor.
A franchise is one way to avoid many of the risks and headaches associated with starting a new business. When you buy a franchise, you are buying the right to use the franchisor's name, product, and management approach. A franchise already has its infrastructure in place as well as a promotional strategy. Name recognition may be well-established and you have a good idea of what you are getting.
Before you buy a franchise, proceed cautiously and do your homework. You might want to take a test to see if you will make a good franchise owner. Make sure the company you are considering fits your personal interests and needs. Ask a lot of questions. Visit a franchise unit and spend some time there. Talk to the owner and customers. Imagine working there for years.
When you find a franchise you like, contact the franchisor to request information. Generally, you will be asked to provide some basic information, including personal financial data. If this initial paperwork is satisfactory, you will be invited to visit the home office where you will usually receive a tour, sales presentation, and information about the company. This information should help in your decision to negotiate a franchise purchase.
Study all the documents carefully. It is good to have professional help in analyzing the financial statements, litigation history, and other background information. Examine the franchise agreement carefully with your lawyer. Talk to as many franchisees and visit as many units as possible. Proceed with the deal only when you are fully satisfied that it is the business for you.
(NC)—As the warmer weather sets in, so does our appetite for lighter fare and an increased energy level. Spring clean your health regime by treating yourself to wholesome lunch options and an active new lifestyle to get yourself back on track for the summer months. Here are three ways to get you started.
1. Re–introduce activity: After months of using the “it's cold out” excuse for not getting your 45 minutes a day, it is time to get back into the swing of things. Using your lunch break in the middle of the day to enjoy a brisk walk is a great way to get moving again.
(NC)—Did you know that one tablespoon of fresh oregano contains the same amount of antioxidants as a medium sized apple?
We know that antioxidants in our bodies are essential to good health. Many fruits and vegetables provide them, but research shows that fresh oregano is at the top of the list in antioxidant activity. Adding fresh herbs to your diet is an easy way to include significant amounts of antioxidants and increase the health value of a meal without adding extra calories–and you can easily grow them right in your own backyard garden or in containers on your patio or balcony.
(NC)—We live in a world where “mega, super and grande” sizes have become the norm. Many people use these plus–sized portions to validate their binge–eating habits. Some use over–consumption as a way to comfort emotional distress, others take the “see food” diet approach and always finish what's on their plate.
Here are a few tips I like to follow to ensure I am eating the proper portions.