Buying a franchise or business opportunity?

Discussion in 'General Advice' started by Capagrl, Jul 7, 2008.

  1. Capagrl

    Capagrl New Member

    HI there! Just wondering if anyone has considered purchasing an existing franchise or business. I found a site (http://www.businessopportunityfinder.com) and it has a TON of possibilities listed! I guess I'd need to narrow down what I'm interested in or what could be done with my kids underfoot. If you've explored this avenue, what did you find?

    Thanks!
     
  2. BillChechel

    BillChechel New Member

    Capagirl,

    If you plan on running a business from home I would suggest staying away from francises.

    I currently own a franchise in the auto care business and I hate the fact that I pay franchises fees. The particular company I am with has nothing to do with the success of my company and I pay a hefty fee each and every week.

    Any business that is a at home franchise you can do yourself.

    I guess the first thing you need to decide is do you want own a business or are you looking to just work at home. Those are two hugely different things.
     
  3. jpolito830

    jpolito830 New Member

    Franchises have both positives and negative aspects. The initial set up cost and the time frame for making your business turn profit is dropped by opening a franchise, but there are the fees involved. What type of business are you planning on getting into?
     
  4. CSGWAHM

    CSGWAHM New Member

    Capagrl......Welcome to the forum! At one point, Dh and I looked into buying a franchise, but it was just too much money and we'd have to put in ALOT of time and be away from our kids, so we decided against it. I'm glad we did because now I work from home and am doing well. I can be here for my family, plus make a great income all from home. Sorry I couldn't be of more help!
     
  5. aplina

    aplina New Member

    its not worth it. yes ldid almost buy one but am glad l didnot. its very expensive . why not start your own biz bulid a website around what you hobbies are better still look for something that has lots of demand but no body or few people are offering.

    good luck
     
  6. johntanyishin

    johntanyishin New Member

    Some franchise will give you excellent support, you got to find out the credible ones though.

    Franchise gives you an edge over starting a brand new business, in a way that there is somebody who had already done it, so you don't have to reinvent the wheel. You have to weigh the boons and banes yourself, some people feel that it's competition, I'll think it's partnership.

    Of course, the person must be one who had already "made it" instead of faking it out.

    JTYS
     
  7. ibuzzmentor

    ibuzzmentor Member

    With franchises come overhead, headaches, expenses, royalties, etc.

    Home businesses come with none of that but a lesser likelihood of success.

    So it is a tradeoff. I prefer the freedom of working from home because I know I can do it. Sometimes I view franchises as a job you own.
     
  8. pcwork

    pcwork New Member

    Some franchisees provide good marketing support.
     
  9. Homeboy

    Homeboy New Member

    Been there, done that, it nearly destroyed me.

    The business was actually working. It was making money. But the franchise fees left me in debt every month. That was a hard lesson to learn.

    Seriously, don't bother with franchises unless you're VERY certain in advance that it's a well-known business that WILL make enough to cover your basic fees.
     
  10. BillChechel

    BillChechel New Member

    I agree with Homeboy on this one.

    Most smaller franchises are ideas that have been repackaged over and over again.

    I have seen a franchise that you buy and then pick of other peoples dog waste. Not a bad concept but why do you need to pay some franchise company to teach you how to do that?

    If you have an idea then do some research on it and go for it. Learn how to become a business minded person and then turn your idea into something great.

    I know too many franchisees that have gotten a raw deal and you have no recourse. There are plenty of disclaimers when you sign the franchise agreement. There is never any type of guarantee of income just like any other business.

    Sometimes I think people assume that franchises are flawless and will work 100% of the time. They require just as much work as any other business.
     
  11. mreyn

    mreyn New Member

    Not sure if you've checked into the opportunites that are available with network marketing companies. I'd be happy to share information with you if needed. I have a travel business that I run from my home computer and my bookings are done online through my travel booking site. This can be worked on/offline. The network marketing offers you the potential to make a tremendous income seperate of your business by sharing what you do with others. There are plenty of options also. You just have to do your due diligence. If you're interested I can send you info on travel business, health/wellness. Good luck!
     
  12. cebarber2

    cebarber2 New Member

    Many interesting comments here.

    I am a Franchise Consultant belong to a leading network of franchise consultants with over 25 years of experience. I work with people daily that are looking to be in business for themselves, without having to re-invent the wheel.

    My services are free, so I save you the aggravation of sorting and sifting through the thousands of possibilities that are out there.

    There are many sound reasons to franchise, including name recognition, greater buying power, and ongoing support, to name a few. Also, very few people realize that there are many solid (and very profitable) franchises that offer low start-up costs.

    No, I don't offer Mcdonalds as part of my franchise inventory. Do you have $1M-$2M to start one of those anyway?

    I represent only the best small to mid-sized franchise opportunities available. My job is to find the one for you that hones in on your interests and skill set.

    There are many extremely profitable franchise concepts out there that I'm sure you have never heard of or even knew existed.

    I'm happy to discuss possibilities with those that have interest.
     
  13. cebarber2

    cebarber2 New Member

    Oh, I forgot to mention....I pay $1,000 for any referral that I receive that ultimately purchases a franchise by utilizing my services.

    Easy money for anyone that knows someone that may be interested in a franchise opportunity.
     

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