Franchise which one ? help please !

[swaps]

Hi All,
Is there any websites or anywere which compares franchises and advises which way to go ? What Im looking for is any business im capable of doing but is must be a very low risk of failure. No franchises seem to give the details you need like how many of their franchises fail in the first 3 years and how many they have done and how many are still trading. Not sure if I should be looking for a franchise or buy an ongoing business. I will list some points and any avise is welcome.

Need a business thats at least 95% likely to succeed
Can invest a max of 100k including running capital
needs to be local'ish to me
If franchise need to have been around a good time and proven to work
High profit to outlay
Need to earn me min £500 per week for a max 40 week - dont mind working 80 hours but would expect a min £1000 for it.


Any sugestions ?

Thanks Alan

[stratigen]

Originally Posted by swaps

Hi All,
Is there any websites or anywere which compares franchises and advises which way to go ? What Im looking for is any business im capable of doing but is must be a very low risk of failure. No franchises seem to give the details you need like how many of their franchises fail in the first 3 years and how many they have done and how many are still trading. Not sure if I should be looking for a franchise or buy an ongoing business. I will list some points and any avise is welcome.

Need a business thats at least 95% likely to succeed
Can invest a max of 100k including running capital
needs to be local'ish to me
If franchise need to have been around a good time and proven to work
High profit to outlay
Need to earn me min £500 per week for a max 40 week - dont mind working 80 hours but would expect a min £1000 for it.


Any sugestions ?

Thanks Alan

I'd guess that the various "Franchise Magazines" would be a good starting point re: reviews, comparisons, etc., and also to get a sense of which ones are doing well (or not).

I'd suggest there's no such thing as a "franchise business with a 95% chance of success". After all, it's the people running the actual franchise that will make it successful (or not).

If you search on Google, I bet you'd find some Forums dedicated to Franchising, etc.

[quayplayer]

Hello Alan
If your not sure which one would suit you why dont you try working for some one who runs one and then you might get a better picture also try your local library for information and books like franchising for dummies...
Good luck Steve.....

[bizadvisor]

Bravo, you are on the right path....But the first thing you need to do, is to decide what you are passionate about. Without passion, you are doomed to fail.

By the way, never work for the money, work for the satisfaction of building something, if you work because you are committed to the result, money will follow. If you don’t believe me just ask any pissed off doctor or lawyer that wishes they had opened a pie shop.

Take courses that teach you people management. Any business is all about people…It’s about the customers, the employees, the bankers, the landlord, etc etc. Next look at ways to learn marketing, how to get your idea/product/ service to the market and create points on differentiation.

Don't worry so much about the accounting aspect; there are "quantifiers" (accountants) out there by the handful.
Do get a basic understanding or bookkeeping & computer based P&L programs like QuickBooks...Also learn budgeting and cash flow planning.

Be creative, be the innovator, you'll find the technicians later on who will help you execute, but only you can create a business, a service or a product that is unique to you.
Go for it!

Once you find your “calling" do your research…
Start by reading "The E-Myth Revisited" by Michael Gerber.

Listen to the podcast on "choosing the right business for you" and read the article about getting money from other sources.

I am a 25 year veteran of the franchising & business development industry and I have helped people develop thousands of small businesses.

Franchise Money Maker is a Free Information Website written by industry veterans and experts in various disciplines of business and dedicated to Entrepreneurs.

You will find information on everything from choosing the business that fits you best, to financing, to human resources, to marketing and accounting.

In addition Franchise Money Maker offers Podcasts featuring in depth interviews with Business Leaders, successful Entrepreneurs and both Franchisors and Franchisees.

A must visit for anyone in business or thinking about starting their own business. Franchise Money Maker is also an excellent resource for business students or anyone researching small business topics.

Never let anyone “Steal” your dream by saying you can’t do it!

Please fee free to contact me with further questions....

Don't focus on the "Nuts & Bolts" until you decide what type of business you want to build.

Thanx