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Researching the Best Franchises
The best franchises aren't really the best unless the franchisors that operate them are up to par as well. The legal requirements necessary to become a franchisor don't at all prove that a particular business is ready and able to become a good franchisor.
Profitable franchises need to stem from a business that can be sensibly franchised. Equally as important however, is the need for skills to mentor franchises--not just run individual businesses. In other words, someone may be able to run a successful business, but not have what it takes to package that success on a larger scale and create a top franchise. A successful franchisor needs to have the resources, staff, and knowledge to support its franchises.
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Global Franchises Positioned for Potential Growth
Global Franchises may be an overlooked wealth creation opportunity. Business franchises represent approximately 33% of all retail sales in the USA but only 10% in Europe and even less in many emerging nations. With proven business models and highly recognizable brand names, these top franchises may be one of the best kept secrets to wealth creation still in existence!
Take Dunkin’ Donuts as an example; Number two on the Entrepreneur.com Top Ten Global Franchises for 2007 list, Dunkin’ Donuts grew from a small start-up to more than 5,500 locations across the USA before expanding into Europe and Asia. With only 1,856 foreign franchise locations currently in existence, it is easy to see the potential for future growth especially in population dense markets such as Asia.
According to research conducted by the International Franchise Association, nearly 80% of US based franchises plan to expand foreign operations representing 44% increase since 1996 and nearly 70% since 1989.
Consider your opportunities for franchise ownership in leading nations throughout the world. The top projected areas include:
26% Canada
15% Europe
9% Pacific Rim countries
7% China
With a population over 1 Billion people, China is expected to demonstrate strong growth for many years to come! Visit www.entrepreneur.com for more information on the top Global Franchises of 2007.
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Buying a Top Ten Franchise
Whether or not a particular category is consistent with top ten franchises can and will change repeatedly. Look at what the top ten business trends are and find franchises in those areas. Fitness and weight loss are perennial favorites, as are businesses related to children and seniors. However, don't choose a franchise solely based on its placement in the top ten franchises when you're doing your research.
Always remember that trends come and go. Be sure to ask your franchisor about their predictions on new trends as they come up. Make sure you don't buy into a top franchise only to find it last year's fad by the time you need to make a profit.
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Global Franchises: A Solid Investment During Troubled Times
As the economy tumbles and turns at every corner due to a falling dollar, fears of inflation, concerns over the depressed housing market and a host of other potential hazards, investors are searching for alternatives to traditional investment instruments. One frequently overlooked method of wealth creation is the purchase of a global franchise.
Owning your own business has always been one of the most reliable methods of wealth creation in this nation. But with an 80% failure rate during the first five years of business, many would-be entrepreneurs fear failure. That's where buying global franchises makes good financial sense. These top ranked franchises have already earned a reputation as profitable, highly recognized brand names with a proven business model. Of even greater potential interest, these franchises are available for internationally minded entrepreneurs who may be searching for methods of sustaining growth and wealth creation in emerging markets throughout the world.
According to Entrepreneur.com, the Top Ten Global Franchises for 2007 include:
1. Subway
2. Dunkin' Donuts
3. Domino's Pizza LLC
4. McDonald's
5. UPS Store, The/Mail Boxes Etc.
6. RE/MAX Int'l. Inc.
7. Curves
8. Sonic Drive In Restaurants
9. InterContinental Hotels Group
10. Century 21 Real Estate LLC
Surprisingly, global franchises remain more affordable than you might imagine. Take for instance Subway: The total investment required to purchase the number one Global Franchise for 2007 begins at roughly $75,000! Curves, a top ranked women’s fitness center requires a total investment ranging from just over $31,000 to just above $50,000. More than likely, whatever your desired level of investment; Global Franchises are within your reach!
To explore the potential return on your investment dollar, visit entrepreneur.com’s top 200 Global Franchise list for a complete overview of available Global Franchises including total investment required, how to request more information and more!
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Financing the Best Franchise
Many franchisors recognize that not everyone interested in buying a popular franchise can afford the purchase price outright. Don't neglect to diligently research the best franchises regardless of their financing options.
Remember not to immediately write off the idea of buying a top franchise because you don't have the cash. Instead, find out whether the franchise you've identified as the best franchise for you offers any financing options. Franchisors are often times looking for people with the drive and energy to succeed, not necessarily the people who can afford to finance a business from scratch.
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Top Franchises
It can be helpful to check out the management running the franchisor of the top franchises you are investigating. Find out the names and employment history of the managers. Do they have prior experience in running a franchise operation? Also, check out any indication of shady business deals. In other words, look for criminal records, bankruptcies, and a lawsuit histories related to your top franchises. Alternately, look for past examples of meeting obligations, behaving honorably, and earning stellar reputations.
When you invest in a franchise, you want to be sure it's of top quality. You are relying upon the franchisor to meet their obligations to you so don't ignore omens presented by their past business dealings.
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Brokers and Your Top Franchise
The use of a franchise broker is tricky. Many brokers will tell you they help buyers find a top franchise. Use them for advice but be aware that most brokers are getting paid by the franchisor after the purchase of a franchise. When they are advising you, always remember that they have a financial incentive to get you to close the deal and purchase that top franchise. In other words, make sure to get advice from a franchise attorney and an accountant on the technical details.
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