Author: ajaero tony martins
In recent times, franchise businesses such as Wendy's, Pizza Hut, Burger King and McDonald's are booming. The entrepreneurs setting up franchise ideas and businesses have really discovered a gold mine and they are really promoting the idea vigorously.
Now buying a franchise is buying a business, so capital is going to be involved. I want to take you through a checklist of questions you must answer before buying a business franchise. So you won't bite your finger in regret.
Some business franchises are very good. They treat both the franchisor and the franchisee well. Others are one sided. But most of them are total rip offs because they make you pay ten to fifty times the actual value of the business idea, equipment, or whatever it is they are trying to get you to buy.
Before buying a business franchise, you should examine everything carefully, from the documents and paper work to the product. Infact, scrutinize everything. To help you out, i have prepared a list of questions you should ask and answer satisfactorily before buying a business franchise.
These are 15 crucial questions you must answer before buying a franchise business. Let me share 3 more franchising tips with you as bonus.
If you can answer these questions satisfactorily, then you are on your way to buying a good business franchise. But if you are in doubt with any of these points, be sure to check it out and know the answers before you invest or sign anything.
Buying a business franchise can give you a degree of security, and in some cases, sure-fire profits. Business analysis surveys show that less than 20 percent of all franchised businesses fail. This is in contrast with a 60 to 80 percent failure rate for all new businesses started each year.
Information regarding specific franchising ideas can be found in the franchising directories, which are generally available at the local library. Often there will be a notice posted in franchise outlets themselves.
You can also purchase business books and guides that will help and give you more insight in buying and building a successful business franchise.
If you can afford the capital involved in buying a business franchise, statistics are on your side. You are now armed with some CAUTION and STOP and GO signs!
About the Author:
Ajaero Tony Martins is an entrepreneur and investor. If you find this article informative and you want to learn more, please feel free to visit my blog at www.strategicbusinessteam.com and http://mybusinessgrowthstrategy.blogspot.com This article may be freely reprinted or distributed unedited in any Ezine,newsletter,blog, or website. The author's name,bio and website links must remain intact and be included with every reproduction.