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Franchised businesses are more successful!
Are you looking to own a franchise? Or do you already own a business that you want to franchise?
You’ve come to the right place!
Financial freedom… is this not what we are striving for as an Entrepreneur? Finding time to enjoy the better things in life, live with the ability of knowing you can help others due to your success.
According to the U.S. Bureau of Labor Statistics, data shows that 20% of new businesses fail during the first 2 years of being open, 45% during the first 5 years, and 65% during the first 10 years. Only 25% of new businesses make it to 15 years or more!
When we talk with a client about a dream of owning a business or expanding a current business, we start bringing the future to reality. Understanding structures and systems in order to manage gross and net margins, and all of the moving pieces, is where we can help!
See DecoArmor at The Franchise Show
November 20 & 21, 2021
North Carolina State Fairgrounds
1025 Blue Ridge Road
Raleigh, NC 27607
January 21 & 22, 2022
Dallas Market Center
2100 N Stemmons Fairway
Dallas, TX 75207
March 25 & 26, 2022
Pennsylvania Convention Center
1101 Arch Street
Philadelphia, PA 19107
What is a Franchise?
A FRANCHISE is the agreement or license between two legally independent parties which gives:
A person or group of people (franchisee) the right to market a product or service using the trademark or trade name of another business (franchisor). The franchisee has the right to market a product or service using the operating methods of the franchisor. The franchisee has the obligation to pay the franchisor fees for these rights. The franchisor has the obligation to provide rights and support to franchisees.
Because so many franchisors, industries and range of investments are possible, there are different types of franchise arrangements available to a business owner.
Types of Franchise Arrangements:
Single-Unit (Direct-Unit) Franchise: an agreement where the franchisor grants a franchisee the rights to open and operate ONE unit. This is the simplest and most common type of franchise. It is possible, however, for a franchisee to purchase additional single-unit franchises once the original franchise unit begins to prosper. This is then considered a multiple single-unit relationship.
Multi-Unit Franchise: an agreement where the franchisor grants a franchisee the rights to open and operate more than one unit.
Common Franchise Terms:
FRANCHISING: A method of business expansion characterized by a trademark license, payment of fees, and significant assistance and/or control.
FDD (FRANCHISE DISCLOSURE DOCUMENT): This document provides information about the franchisor and franchise system to the franchisee.
What information is found in the FDD?
Other questions that Premier Consultants can answer for you:
- What type of business should I get into?
- How much money will I need?
- Can I get a loan?
- How do I get started?
- What paperwork do I need?
- What legal council, accountant, payroll, CRM, website, etc. will I need?
- How do I market my business?
- How much business do I need to do to break even and make a profit?
Our team of experts are committed to your success.
Book an appointment now to learn more about our Franchising, Consulting and Seminars.