Small Business Franchise Opportunities



1. Operating a small business franchise is easy because the hard work is already done.

False
Small business franchise opportunities require hard work and discipline. Even though you may be purchasing a recognizable name with a good reputation, there will still be hard work to do. Anyone wanting to own a part of a company must be full of enthusiasm and have the energy it takes to work hard initially. A franchise owner also needs to have the commitment needed to run an establishment.


2. All small business franchise opportunities operate in the same way.

False
How a company operates is dependent upon the type it is. Retail sales or restaurants will require that you be able to manage a number of employees and spend large amounts of time at work. Some companies are service-based, allowing you to work from home and alone. A person should evaluate their strengths and weaknesses when deciding on what type to consider.


3. The small business franchise opportunity requires a fee which will not cover all the costs when buying into the company.

True
When a buyer is quoted a fee, the quote does cover certain costs. However, anyone purchasing part of the company should be aware of additional costs that can occur. Printing and advertising will most likely not be included in the initial fees. Also, as with restaurants, specialty equipment for cooking can be an additional expense. Many companies can require that you pay a percentage of your monthly revenues.


4. It is a good idea to speak to other owners before purchasing your part of the company.

True
When you have decided to become an franchise manager, it is essential to speak to as many other owners as possible. The company will most likely recommend other holders to speak with, but, question a broad section of owners in other companies to determine success. In doing so, you should also gain valuable knowledge about how well each company fulfills its obligations.


5. Seeking the counsel of many is wise before taking advantage of small business franchise opportunities.

True
Proverbs 11:14 - Where no counsel is the people fall; but in the multitude of counselors there is safety.


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