0
Is starting an business with an franchise good for an first time minority?
Wiki User
∙ 15y ago
No. Franchises are expensive and generally involve getting into a business about which you know little. It is better to stick with something you know and start small. For a minority, get certified as a historically underutilized business (HUB), and you will be entitled to government contracts. If you provide a value, you will do well.
Wiki User
∙ 15y ago
Add your answer:
Earn +20 pts
How do you open a business franchise?
To open a business you will first need to obtain a business license. Then you would have to obtain a space and then purchase the franchise that you are interested in.
How does one start a small business franchise?
For one to start a small business franchise you must first have the idea of the product and you must have the financial ability. Then the first step is to seek legal advice to ensure that you are not jumping into something.
What is the first step in starting a small business?
The very first step in starting up a small business is to decided the nature of the business. Then a business plan must be written up, stating the nature of the business and estimated cost to run for the first year.
What questions should you ask a franchise start up agency?
Congratulations on taking the first initiative to franchising your own business, which is certainly a great way to expand your Business without having to invest your own money, or create more work for yourself by delegating them to other Entrepreneurs who will run the entire operation for you in correspondence to your system, consequently allowing massive scalability of your Business passively. Due Diligence is essential to owning a Franchise, starting a Business, and the same applies to Franchising your own Business. You can begin by speaking with people who are involved in Franchising. Lots of them can be found in Franchising expo's where you can directly ask the franchiser's head office on what their thoughts are of the source who helped them franchise their operations. Making comparisons with existing Franchises is also vital. Visit Franchise Portals, and request more information from related Franchises so you can acquire some insights into their extensive Franchise Disclosure Document(FDD), which is the primary obligation of a franchisor - prior to selling a franchise. A franchisor must also comply with the "Federal Franchise Rule" (16 CFR 436, 437) respecting the disclosure obligations of a franchisor. Many of these resources can be found under related links below, and I have also provided a link where you can request a Free Consultation from a qualified Franchise consultant to assist you on the whole nine yards of Franchising your own Business.
What is needed to start a small business franise?
To start a small business franchise, you first need to realize that it is going to cost some money. Next you need to think and be creative in what you want to sell, then you can start up your small business.
Do I need a business plan to start a franchise?
You should have a business plan as it will greatly help you in starting a franchise. You should start a small business first and then expand to a franchise.
Where can I find information about starting a business franchise?
There are many great resources online about starting your own business. One of the first places to start is the IRS to know about taxes www.irs.gov/businesses/corporations/index.html.
How do you open a business franchise?
To open a business you will first need to obtain a business license. Then you would have to obtain a space and then purchase the franchise that you are interested in.
How do I start a cleaning franchise?
First, you should start with a single small business. Market it and promote the cleaning business in the local area surrounding the business location. Then as that business becomes successful, you can franchise it and open other business locations in other areas.
How does one start a small business franchise?
For one to start a small business franchise you must first have the idea of the product and you must have the financial ability. Then the first step is to seek legal advice to ensure that you are not jumping into something.
Is it really a good idea to invest in a franchise?
Franchise business have extensive training in operating their business. They can be a good way to get started in your own business. There are some things to think about before plunging in. The first is the upfront cost of the franchise. Then what are the ongoing fees charged for the services provided for you by the franchisor.
how do i go about opening a business franchise?
Each business franchise is going to be different. First you need to figure out what franchise you want to start than you can go about figuring out what you need to do in order to start. Check out this site for a list of opportunities: http://www.franchiseopportunities.com/
How can I start a car washing franchise?
First, you need to make the right connections. Contacting an equipment provider and someone who works in business realty would be extremely helpful. Second, assess your finances, probably with a financial expert, to be sure that starting a business/franchise is the right decision for you. This website: http://www.hillandfoss.com/faq.html provides a lot of information and things to consider further.
how do you sell a franchise business?
You first need to contact the franchise you are interested in selling and see if they require any steps before you start selling their franchise. Then you can get started possibly by taking a course or getting a starter kit.
What do a future restaurant owner have to do to get started?
first make a business plan.save as much money as you can.descide whether you want to franchise or have your own business.
What is the first step in starting a small business?
The very first step in starting up a small business is to decided the nature of the business. Then a business plan must be written up, stating the nature of the business and estimated cost to run for the first year.
Who was the first owner of the Toronto Blue Jays?
The franchise was originally owned by Labatt Brewing Company Ltd., with Imperial Trust and the Canadian Imperial Bank of Commerce as minority owners.
