A Franchise - Your own business, but include support and guidance.

A franchise - your own business, but with support and guidance. With more than 60 million in the United States alone, there is a lot to consider when opening your own store. From getting the right location to marketing and making sure you're giving satisfied customers what they want, there are a number of things you'll want to do first before jumping into a franchise. But if you really want that win-win situation of owning your own business long term and help for day one, then read on below for some helpful tips!

What Is A Franchise?

Franchises are businesses operated by someone else but owned by you. Most storefronts, such as Subway and McDonald's, are franchises. When someone is looking to get into a franchise, they look at all the different options available to them. When you become the next new franchisee anywhere from Subway sandwiches to tech support or car insurance, you will receive the following:

* A complete business plan and an opportunity for you to make all the decisions about your store location and operations

* The materials you need to open your business - FREE !

* The training that is necessary for your business to be successful

* A mentoring and advisory team of experienced franchisees throughout the country that can help answer any questions or provide advice as new store managers.

* An opportunity to share in the profits of your store - as much as you decide to keep.

Most franchises have a number of stores in different regions throughout the country and can provide you with the training necessary in all aspects. What is different about them, though, is that they are owned by you and provide you with an opportunity for financial success. And finally, a mentoring support team throughout the country will help you through any issues or questions that come up and provide advice on improving your business as well as help for day one as a new franchisee!

There are currently over 60 million Americans who own their own businesses and there has been a huge increase over the last few years. Here are some recent statistics from CNBC:

From 2000-2010, the percentage of Americans who own their own businesses increased from 60% to 72%.

Since the start of the recession in 2008, the number of people who have opened up their own business has increased by over 3.5 million.

In 2009, 75% of new businesses were started by first time entrepreneurs. In 2010 that number rose to 80%. And finally through 2011 as well - 80% of new businesses were started by first time entrepreneurs.

Now, there are a couple things to know before you open your franchise with someone else - starting with how much money you'll need and what kind to invest in your franchise. First, check with the franchisee association to see if you can apply for financing from a bank or credit union. Second, check to see what the current demand is for franchises at that time in that location. This will help you determine how many stores to open and how far apart to get them opened. And finally, know what you're getting into - how much support and training are you getting with your franchise and how much money are you investing in your business?

Here's a step-by-step guide to opening your own business:

Step 1 - Determine Your Needs:

The first thing you want to do is figure out exactly what type of store or services you need. The more research you do about different franchises and their needs, the more you can get a better idea of what is out there. When considering your own needs, go from the most basic to the most complex and make sure it is within your reach.

Think about going from a franchise that provides sandwiches to one that provides insurance. Insurance would involve more employees and a mortgage on an office building or storefront. Whereas sandwiches don't have much overhead and can be made in someone's home outside of business hours.

Step 2 - Go For Training:

This is a big step in opening your own business franchise. Determining how much money you will make and what kind to invest in your franchise is the first thing you'll want to figure out. In order to figure out how much you can make, you need to know how much money the franchise costs and what their requirements are for making a profit. You also need to get enough training from the franchise as well as mentoring from other people who also own franchises so that you know what it takes to be successful in your business.

Step 3 - Look For Franchise Opportunities:

There are a number of different franchises out there that will help you determine what you need and provide you with startup support and training. By looking at the different franchise opportunities offered, you can focus your attention more on the type of business or service you want to run in the future. The best place to look for these opportunities is at an information session. These are generally scheduled once a month at a specific area in your area and they provide training as well as mentoring support and information on how many other people opened franchises in that location over the past few years.

Check with the franchise association to see what franchises are available in your area and how you can apply for financing support. In some cases, you might even be able to partner with a friend or relative when you open your franchise. That way, they can help fund the franchise and do some of the initial startup support work for you since it will be their name on the business.

Step 4 - Prepare To Open Your Business:

Once you've chosen a franchise that is an option for your needs, prepare yourself financially to open your store. You'll want to start by finding out how much money it takes to open a store and what kind of equipment and materials you'll need when you get there. This will ensure that you have everything you need to start your business once you receive training.

Check into the financing options that are available to you before you commit to your franchise. This will help you figure out how much money you'll need and what kind of loans or financing options will get the ball rolling for your new business.

Step 5 - Start Your Business:

After checking into all of the financial details, it's time to start buying equipment and getting materials for your store. The best way to go about this is through buying used or second-hand items from stores in the area, from people who already have franchises in that location or from online listings. Be sure that everything is in working order and ready for opening day.

Step 6 - Open Your Business:

This is the day you've been waiting for! You'll want to make sure that there are items available in your store to give away for free with every purchase. This will help encourage customers to visit your location if it's convenient and make sure that they have a good shopping experience the first time around. Make sure that you're ready with all of your marketing materials ready and available so people will know how to find you!

Finally, make sure that everything is set up properly so it's as close to perfect as possible before you start ringing up purchases.

Conclusion:

If you want to open a franchise business, it's important to do your research and make sure that you're ready for it. This will give you the best chance of success. Remember that opening a business can be an exciting and rewarding experience, but it is tough at times. The key to opening a successful business is not only having the right personality or qualifications, but also knowing how much time and effort are required.