FRANCHISE OPPORTUNITIES PART 3
2023 JULY ISSUE
Written by : Andrew Sia
Share this article!
From the Desk of the Publisher
The last time we did the same report was six months ago. We tried to keep the reader’s interest alert, especially for those who would like to start something. This time we learned the commitment, not only that we will need to work hard, but ready to put in perhaps twenty years and commit ourselves with a big brand.
We have to understand that “no pain, no gain” as our parents taught us.
Franchise
Noun fran-chise
the right or license granted to an individual or group to market a company’s goods
or services in a particular territory
also : a business granted such a right or license
Introduction
Basically we are looking at franchise as a business that you hire yourself and control your own destiny through franchise ownership. The franchise fee can be as low as $25,000 and up. Franchise is a big business and unknowingly to us, it actually represents 11.4% of all businesses in the United States.
While restaurants make up the biggest chunk of the franchise opportunities, gas and convenience stores, car dealerships, fitness, real estate and hospitality sectors also make up a sizable piece.
Franchise is supported by franchisees where you can have access of the unit growth, new franchisee successful rate and the franchiser’s financial statement for your consideration. You can use these information to determine the profitability of a franchise.
The bigger franchisees have their supporting center for training. They would host regular seminars and events. The basic training for franchise is very important.
When you are signing up a franchising agreement, you need to pay attention to the franchise terms where they would tell you the time you have to commit. For McDonald’s it is 20 years. You have to dedicate your full time for operating a franchise.
The franchisers are working on expanding their territories and always look for growth in a particular geographical area. When choosing a location, if it is too congested, it will be full of competition. If the area is too remote, then there will be no customers. This ought to be studied very carefully.
For a big brand, there is the advantage of the brand recognition, but the cost will be high as well. A small franchise could have an easier entry point, but to know about its potential to grow is important.
We have to point out that for the past three years during the pandemic, it has put many franchisees under a lot of pressure, and many suffered from closure because of the lack of business. We have witnessed the situation on the interstate-highways for those gas stations and the food chains and convenience stores located at the service area.
Instead of finding Shell, BP and Chevron, we have found a lot of gas stations under the banner of Sunoco one after the next. Gone are the food chains and convenient stores and it was quite saddening during our May trip.
A very great part of those participants in the franchise industry are the Immigrants and entrepreneurs. Through their hard work, they have made the successful story and made the impossible become possible.
Aside of food, I can see potentials in advertising, auto service, beauty, business services, childcare related, cleaning services, computer and internet, education, health and fitness, home services and repairs, pet, pest control, printing, copying, shipping and signing, and senior care. And in fact I can go on and on as the need for the service out there is unlimited.
We also come across another franchise exposition organization known as the Franchise Expo and they can be reached at:
Franchise Expo South – Ft. Lauderdale, FL
Ft. Lauderdale Convention Center
September 8-9, Friday to Saturday
Guides for the Franchise Shows
United States
Franchise Show – Minneapolis, MN
Minneapolis Convention Center
September 16-17, Saturday to Sunday
This franchise expo is in 25 cities in North America.
It is a two days show, allow the face-to-face meeting with the hottest businesses. Buy a successful and proven franchise business and help to avoid all risks in starting a new business. Take the future in your own hand.
Franchise Show – San Diego, CA
Del Mar Fairgrounds
October 7-8, Saturday to Sunday
Franchise Show – Atlanta, GA
Cobb Galleria Center
October 21-22, Saturday to Sunday
Franchise Show – Denver, CO
Colorado Convention Center
November 4-5, Saturday to Sunday
Franchise Show – Tampa, FL
Tampa Convention Center
November 11-12, Saturday to Sunday
Canada
Franchise Show – Toronto, ON
The International Center
September 9-10, Saturday to Sunday
Franchise Show – Edmonton, AB
Edmonton Expo Center
September 30 to October 1, Saturday to Sunday
Franchise Show – Moncton, NB
Moncton Coliseum
October 14-15, Saturday to Sunday
Franchise Show – Montreal, QC
Palais des Congrès
October 28-29, Saturday to Sunday
Franchise Show – Calgary, AB
BMO Center
November 18-19, Saturday to Sunday
Closing Remark:
I leave it to you to explore what can suit you if you have decided to take up a franchise. You will need to have the determination for being a business entrepreneur and ready to take chance.
This time we have focused on the U.S. and also included Canada, I leave the other countries for you to explore. The research will add the interest and perhaps the challenge can entice your appetite.