Archive for August, 2011
Recession Sparks New Franchise Business
McDonald’s and Burger King are two very well known franchise brands – but what do they all have in common Both franchises were started up during a time of recession.
It is interesting that many people’s reaction to losing their job and redundancy is to focus on a franchise business as a means of self employment with supportive backup. After the initial shock of redundancy, many individuals that have been sitting on the idea of empowerment via self employment, becoming pro-active and highly focussed on their next step to get back into business.
Now is a fantastic time to look at franchising as a secure route to self employment with more franchise opportunities available than ever before. As well as researching options available online, there are numerous exhibitions and publications that can be used to find helpful information.
Tags: bba, british bankers association, business activity, franchise brands, franchise business, franchise opportunities, initial shock, self employment, start up business, steve cooperRelated posts
Requirements For A Franchise Business
A franchise unlike other businesses needs to have special ingredients. These include an easily duplicated business model, decent profit margins, strong brand name and future potential for growth. If these ingredients are in place then it becomes easier to recruit the ideal franchisees.
A business can only be franchised if it is possible to train franchisees how to manage their territory successfully. If specialist skills are required then it becomes harder to franchise. As things currently stand, it is extremely difficult to recruit intelligent and hard working people without adding any extra burdens on the franchise selection team.
Tags: decent profit, design characteristics, distinctive brand, franchise business, franchise fee, franchise opportunity, franchisee, profit margins, selection team, specialist skillsRelated posts