Tom’s Franchise Information Blog

Many years ago I was thinking of starting a business. A
franchise seemed like a very good alternative. I would be
buying into an existing brand name with a proven track
record of success. However, as I did my own research the
answers that I found were not what I expected.

I attended franchise exhibitions and spoke with a lot of
different people regarding what was necessary to start one.
I found out for the different franchises how much startup
capital was required and also how much cash was needed. I
did not have the money upfront to start so I would have had
to borrow it. I found different places where I could get a
loan and enquired about the necessary steps.

However, in doing my due diligence correctly I decided to
personally speak to some franchise owners to get enough
feedback to try and decide what franchise I would be best
suited for. The responses that I received were very
surprising and not what I had expected at all.

Most of the franchise owners were earning a decent living,
but very few had much time for themselves. They were
working a 14 to 16 hour day. Also some of them had
negotiated long term leases, but were hardly making enough
money in profit because they had to spend most of the
profit paying for rent. One owner told me that the land
owner had calculated the projected turnover inaccurately
and that the turnover he was experiencing was a lot less
than originally projected. So in the future he would only
negotiate a lease that took the actual turnover into
account as a percentage.

Another owner also told me that when he started his
franchise he had bought all the kitchen equipment brand new
and paid an absolute fortune for it. He also mentioned that
if he started his franchise now he would look for good
quality second hand equipment and only pay about a third of
the price he had originally paid.

Other unforeseen expenses that franchise owners in shopping
centers experienced was refuse removal and security
expenses. When deciding on a franchise it is very important
that you do your homework correctly and know exactly what
you are getting into. Unfortunately most business owners do
not do this correctly and end up with a lot unforeseen
expenditure that puts a strain on their business.

Would you like to know more about the magical marketing techniques that have helped me to quit my day job? I have just completed my new ebook.

Secrets To Make Money Online - Download your free ebook now.

Mark Abrahams is a full time internet marketer who has helped others to earn a living online.

Useful Links:

It's too late to wait for until your unpaid overdrafts and credit card payments pile up on the kitchen table.