As the economy staggers around the world, many people are still interested in starting or growing their business. Many questions come up..Do I buy a business? Do I expand my current business? Or, do I do nothing? The big question we all have is..What will help stabilize the world economy so a new economy can start building?
Possibly help could come from the Franchise World. But are Franchises for everyone? Not necessarily. In a recent Google search I found the TexasFranchiseLawyer.com site, the leading franchise law for Texas site on Google, to offer a few tips on each side of the Franchise arena.
First there was, So You Think You Want to be a Franchisor? , which outlines the thinking of buying and being a franchisee and then Are You Ready to Franchise Your Business? ,which gives you an idea the thinking needed before becoming a franchisor, a person that franchises their business.
Either way, there is a good possibility many business people in the world may want to consider the world of Franchising to speed up their efforts to secure or improve their business.
But, which franchise would be good for you? Surely this decision comes down to more than taste, want or interest. As the Texas Franchise Lawyer mentioned, you have to have a talent for doing business no matter what your interest maybe. And you have to remember franchises are real work and something that will take a lot of work to get going. This level of thinking may persuade your approach on which franchise would work for you or if your business is ready to be franchised.
Franchises do serve a purpose in the economy and produce revenue which the economy really needs. Franchises could help in offering jobs for the millions unemployed and generate the taxes the government needs to float its budget.
So we are back to the question, which franchise would be good for you? Naturally a franchise that is a good performer would be the safe bet, but, again, is the safe bet what interests you? Lets assume the fastest growing franchise fits your bill.
Fastest Growing Franchises
In this month’s Entrepreneur.com magazine they listed the fastest growing franchises. Below is their ranking on the fastest growing. Make sure to check out their site to see all of the franchises and how they rank in growth.
Top 10 Fastest Growing Franchises for 2011
|
Rank |
Name |
Startup Costs |
| 1 |
$3,450 – $57,750 |
|
| 2 | Jan-Pro Franchising Int’l. Inc. |
$3,145 – $50,405 |
| 3 | Subway |
$84,300 – $258,300 |
| 4 | $6,655 – $92,950 | |
| 5 | Anago Cleaning Systems |
$8,543 – $65,406 |
| 6 | Pizza Hut Inc. | $302,000 – $2,149,000 |
| 7 | $56,800 – $69,900 | |
| 8 | Vanguard Cleaning Systems |
$8,200 – $38,100 |
| 9 | $9,020 – $41,919 | |
| 10 | System4 |
$5,460 – $37,750 |
| Report from entrepreneur.com |
So, as you see, there are a lot of opportunities available for people who are cut out to run a business and work hard to build a business. Just be careful out there and check out everything with someone who has a proven track record on franchising. There are also a lot of laws surrounding what a franchise is and does, so look up a good franchise attorney since you will need one if you buy a franchise or start franchising.
Let me know how I can help.
(This is not a paid advertisement. All of the opinions are my own and I am not endorsing any of the businesses or people I have provided information on.)
