Franchise Opportunities from Consulting Services to Retail
- By Didier Delmer
- Published 4/04/2008
- Franchise
- Unrated
Didier Delmer
"The Didier Delmer Daily News Watch"
Profile :
- Serial Entrepreneur in the High-Tech & Service Industries,
- Expert in European Business Development,
- VP International at NewCom Inc (Nasdaq listed),
- Founder of Easy Consulting,
- VP @ High-Tech Business Club,
- Founder of Portail des PME,
- Investor @ Clean du Bouquet,
- Currently working on Entrepreneurs and Co,
Some of the key areas you should look at in a franchise business to avoid making a very costly error in judgement. Among them:
- How would your franchise business be affected by an economic slowdown? Typically luxury products and services, non-essential services and goods will suffer more than those seen as cost saving or essential.
- How dependent is the franchise on area/socio-economic mix? The area the business started and the area you will operate the franchise in are likely to be different; evaluate the impact on earning potential.
- Some franchise operations succeed because of the founder or current management team. What would be the impact of a change in the business’ top level?
- Profit margins must be high if you are going to be able to pay the franchise fees as well as yourself.
- Your franchisor should be offering a somewhat unique product or service otherwise it is likely you will be getting direct competition from other franchises, independent retailers and chain stores.
- A good franchisor will permit you to speak to any of the franchisees he has up and running. Try and speak to as many as possible.
- Bear in mind that piloted and fully audited franchise operations give the best chance of success.
Check out the the BFA website to get more information !
- How would your franchise business be affected by an economic slowdown? Typically luxury products and services, non-essential services and goods will suffer more than those seen as cost saving or essential.
- How dependent is the franchise on area/socio-economic mix? The area the business started and the area you will operate the franchise in are likely to be different; evaluate the impact on earning potential.
- Some franchise operations succeed because of the founder or current management team. What would be the impact of a change in the business’ top level?
- Profit margins must be high if you are going to be able to pay the franchise fees as well as yourself.
- Your franchisor should be offering a somewhat unique product or service otherwise it is likely you will be getting direct competition from other franchises, independent retailers and chain stores.
- A good franchisor will permit you to speak to any of the franchisees he has up and running. Try and speak to as many as possible.
- Bear in mind that piloted and fully audited franchise operations give the best chance of success.
Check out the the BFA website to get more information !