Franchise

When a business becomes successful and starts to grow, it faces the choice between financing and managing all of its own growth or working with others to expand quickly by selling franchises. If you do decide to become a franchising business, the next choice you must make deals with finding the specific strategy of franchising that is most advantageous to your situation.Retail Franchise ModelThe retail franchise model is the one that most people seem to be familiar with. If you are interested, you may take a look at Franchise. Many of the fast food locations you see on major streets are part of business networks that employ this model. The owners of these businesses pay an initial fee, costs for real estate and and equipment and usually a certain percentage of sales. In return, they get the customer traffic that comes with name and product recognition as well as a tried-and-tested business model that they can follow to success. Running a retail franchise may require you to work the most during evenings and weekends, since you do most of your job while everyone else is off from work.Turnkey Franchise ModelA turnkey franchise model is very similar to the retail franchise model except that it focuses on up-front fees and the sale of equipment, products and name recognition rather than on getting a percentage of recurring sales. These business opportunities tend to incorporate very simple operations that require a specific type of equipment, such as a smoothie stand. The word "turnkey" is used to emphasize the ease of setting up and running the franchise: the franchiser provides everything, and all franchisees have to do is pay the money and turn the key to get it going. Many such business opportunities are intended to be owner-operated.Management Franchise ModelA management franchise focuses more on providing professional services for businesses and organizations than on providing selling to the general public. However, management franchises may do both. Such opportunities tend to require a larger amount of office work and fewer employees than retail franchises, and they tend to offer services such as consultation and asset management.Internet Franchise ModelInternet franchising can have features similar to both retail franchising and management franchising, but it is distinct in that it is intended to be primarily an online business. Internet franchises tend to focus on educating and planning for professionals to be able to provide services or sell products from a home-based business. These business opportunities tend to be relatively low-cost, usually requiring a single franchise fee that covers all necessary materials to get started. For more info, visit Franchise.