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Technically it is under capitalization. If you have enough money you can learn from your mistakes until you get it right. However if you can learn enough from other’s mistakes you can lower the capital necessary for success.
Thoroughly documenting and refining all of your operational systems including marketing and sales, accounting, HR, and customer service. If it is not standardized and documented, it can’t be improved.
Nine of ten independent business startups are gone within five years, while nine of ten franchise business are still around. By investing in a franchise, you shortcut the learning curve, enabling you to get into the profit column quicker. You have the benefit of using documented and proven systems for success, and you can benefit from networking with people who are doing exactly the same thing you are.
Generally if you have been successful working for someone else and have been a good employee, you probably have a good chance of succeeding in the right franchise.
First, you have to determine what you want a business to do for YOU. Answer questions like where and what hours you want to work, what you’re comfortable doing, where you want to be financially and what you want to do with your life when you are NOT working. Once you have established your personal and business goals, you need to find businesses that can most likely help you reach them.
We can help you build a business model that takes into account all the factors that you define as success. Then we can filter down 3 or 4 business that comes close to that business model. Franchise Network International has developed a scientific and standardized process for researching those few businesses to determine the one that is just right for you.
Most people think of food retail when they think of franchising, but we represent businesses in automotive, retail, business to business and personal, education, training, child enrichment plus new and innovative food concepts.
Getting into a business they can’t afford. But next to that is choosing a business based on an “opportunity “, be it a new invention, a groundbreaking new service or just a piece of property they think would be right for a specific business. All of these ideas may ultimately make money, but it will probably cost a lot less and get you more of what you want by allowing Franchise Network International to help you determine the right business for you.