Often when people think of starting their own business, they overlook the option of buying a franchise.
Today, there are many franchises that are suitable for small business owners looking to become entrepreneurs. Some of these ventures have low start-up costs and huge payout profits.
Franchising gives a jumpstart on name recognition and brand building. As a franchisee, you can take advantage of the franchise's national advertising budget. The franchisor will have volume purchasing power for supplies that may (or may not) be passed on to the franchisee. Since the business is already established, building clientele will be easy. Other advantages are cooperative marketing, training and management expertise.
Here's a look at a few excellent franchises for those looking to get started with a small business/franchise opportunity.
1-800-Radiator is the largest independent direct radiator distributor in the country. They specialize in delivering new car radiators. With the United States replacing six million radiators a year last year at an average price of $140, there is no need to explain why business is doing so well. 1-800-Radiator sells its radiators to automotive repair shops and do-it-yourselfers. The company does not perform any installations or repairs. They first opened their doors 20 years ago. Today the company has 50 locations nationwide selling nearly $60 million in radiators in 2005. The start-up cost requires $50,000 — $150,000 cash on-hand, but financing is available for qualified prospects. Competition is limited since they are the only radiator franchise company in the country.
1WSI Internet is the world's leading Internet services franchise. First opening their doors in 1995, they now have over 2000 franchises in 87 countries around the world. Currently they are rated the "#1 Fastest Growing Business Services Franchise" and the "4th Fastest Growing Global Franchise." They use their proven and patent pending business systems to help small and medium sized companies within the community to profit from the Internet. Start-up costs for WSI are about $50,000.
Budget Blinds began its operations in 1992. Their reputation is built on offering convenience to their customers by offering free in-home design consultations, measuring and professional installation. Their blinds are of high quality and feature name brand window coverings at competitive prices. In 1995, one year after franchising, Entrepreneur magazine recognized Budget Blinds as the #1 Window Covering Franchise in the industry. This #1 ranking has continued ever since for ten years straight. Today they have 915 locations in 48 states. Their start-up costs are $45,000 — $76,000.
Planet Beach is a franchise offering the best solutions in skincare and tanning. Entrepreneur Magazine has ranked Planet Beach #74 of the top 200 global franchises. They currently have over 600 locations. Their traditional boutiques have 7–14 tanning spa equipment units, while a Planet Beach Express location consists of 5-6 units. The express location offers an opportunity to purchase a franchise at a portion of the cost. Planet Beach began in 1996. The start-up costs are between $133,035 to $459,637.
Buying a franchise, doesn't necessarily equate to being an instant success. There are many underlying factors to be considered and researched. Franchising is just like any other business. Hard work and sacrifices will have to be made in order for the business to become a success.
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