Business Opportunities - Franchises
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Franchise business carries business activities on same lines as that of parent company but at different locations. Franchise businesses are gaining popularity in United States in recent times. You can find advertisements for such franchise opportunities across leading magazines, newspapers, Entrepreneur magazine, or other moneymaking periodicals. You can open a franchise of any food outlet like McDonalds or espresso carts or many other choices.
Franchise businesses have longer life spans than other small businesses. Their success rates are as high as 85% according to US Government statistics whereas small businesses shut down within two years. Franchise businesses receive complete training and exhaustive business plan to start with your new business. This is a boon as you need not experiment with your ideas or products and receive assured success in your new line of business. Franchises are best suited for people who want to earn through business but not risk trying new opportunities.
However, Franchise businesses are no glossy picture. These business opportunities demand huge chunks of your time and you cannot follow any particular schedules of work. You need to work hard to succeed and expand your business. This is not the case if you work for somebody else. Since you spend major part of each day at your business, it is better for you to choose franchise business, which interests you excessively or which you enjoy doing. However, such a business opportunity is difficult to locate.
US laws close down small businesses if owner does not turn up for thirty days. Incase, you fall sick or want to go out on long vacations, it is not possible with franchise businesses. Although franchise marketers advertise of setting franchise business with investments of just $10,000, in reality, it is not so. You need to shell out around $50,000 to $100,000 for a good franchise to set up and start functioning.
Therefore, setting up and successfully running a franchise business depends more on your commitment, willingness to sacrifice, and passion for your business.
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