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What Exactly is a Master Franchise?

You are most likely already familiar with what a franchise business is. However, did you know that there are master franchises as well as regular franchises? When a company or organization operates a master franchise, the rights to operate that particular franchise for a complete geographical region, such as a City, County, or even a State, is under its control.

Master franchisers employ people in the area they control to sell opportunities to operate or even buy one of their franchise locations. When this occurs, the person who made the franchise location sale must share the fees and any income that is made from royalties (the right to use brand names, for instance) with the master franchise.

Two very familiar examples of master franchises are Midas® Mufflers and Burger King® restaurants. There are, of course, other businesses that are considered master franchises.

A master franchise is different from a regular franchise. A master franchise can literally prevent a regular franchise from operating in a specific area.

Let’s say “ABC Enterprises”, holds the master franchise rights in the fictional city of Tigerland. “CDE Enterprises” is a regular franchise that offers the same or very similar services as the master franchise, and wants to open a branch in Tigerland. Because “ABC Enterprises” has master franchise rights in Tigerland, however, “CDE Enterprises” can’t open a franchise branch. They must either sell their regular franchise to “ABC Enterprises” or find somewhere else to operate.

Master franchisers can also wear two hats. They can be both franchisers—those who own and sell franchises—and franchisees—those who buy and/or operate franchises, because they can sub-franchise.

When this occurs, master franchisees do not experience some of the limitations that regular franchisers might. For instance, a regular franchisee is most likely to make his products or services directly available to the person or persons who will ultimately be using them. A master franchisee, however, has income being generated by sub-franchises.

The licenses that allow master franchisers to operate as such usually require that the person or organization wishing to become master franchisers make a substantial investment. Some are willing to do so, however, because of the advantages that can and do exist as a result of being a master franchiser.

Becoming a master franchiser or even a master franchiser/master franchisee does have advantages if you have the funds to invest in such an enterprise.

Home-Based Franchises : Pros & Cons

You may have heard about home-based franchises, and are wondering if investing in and starting such a business is something you might be interested in. The information in this article can help you in your decision, by presenting both sides of owning a home-based franchise.

First, let’s look at the word “franchise”. You probably already know that businesses such as nationally and internationally known restaurants, auto repair chain stores, and even some sports teams, especially professional ones, are franchises.

The person or people who operate or want to operate these types of businesses paid a fee and entered into a formal agreement with the owners of the franchise, or the “franchisors”. The business owners or “franchisees” can now use the franchiser’s trade name in their business, and can also receive help or support from the franchisers.

Now that we know what a franchise business is, let’s look at the differences between a home-based franchise and a regular franchise. A home-based franchise is operated from your home or a building on your property. You can also operate from a building that you own, but that may not necessarily be located in the same place as your residence.

A regular franchise may have a specific type of building, or may require that the physical location have a distinct appearance or even a unique atmosphere. In other words, there can be no question as to which franchise you are affiliated with.

There are some advantages to operating a home-based franchise. These include, but are not limited to the following:

You do not incur additional expenses from having to rent or lease a separate building.

You do not have to commute to your franchise location. It’s in your house or on your property, so you’re already there.

The whole family can be involved. Young children can stuff and seal envelopes and affix postage (if you don’t use a postage meter), or help you separate orders and prepare them for delivery. Older children, especially those in middle or high school can help with clerical duties.

As with other things, however, a home-based franchise does have disadvantages.

You’re never “away” from your franchise, even if you’re not actively working. Reminders of your business are all around your house.

You may have to have your residential property rezoned in order to operate a home-based franchise.

You may have to purchase business licenses, pay operating fees, and incur other expenses that come from operating a home-based franchise. Further, your property taxes may increase due to your business being located in your home or on your property.

You may have to make changes to existing structures in order to meet building code regulations especially if the franchise involves food preparation or a similar operation.

Why Do You Want to Own a Franchise?

An inquisitive child never seems to stop asking the question, “But, why…?” almost to the point of absurdity. As adults we sometimes need to remind ourselves of the value in this soul-searching methodology when it comes time for critical decision-making, such as “Why do I want to have my own franchise business?”

Many people who go through this process of wanting to own a business start with valid reasons. Perhaps you see yourself in one of these scenarios, or something similar:

• You want to transition out of an unhappy situation with your career progress.
• You are experiencing a deteriorating relationship with your employer or supervisor.
• You may have actually lost your job, as is all too common these days.

Therefore, it is only natural for you to gravitate towards the desire to own a franchise. Now that you have presumably determined the basic rationale, it is time to look in the mirror and ask yourself a few more deeper, thought-provoking “why…because” questions and answers:

• Because being a franchise owner hopefully will mean better income for you?
• Since you want to advance your lifestyle to the next level?
• Because you can be your own boss and provide a different change of pace?
• So you see yourself as wanting to grow over the long term?

Let’s examine each of these tough questions in a little more detail because they are all well-founded. Also, they might be able to confirm that your personal desires and career needs will match the benefits of owning and running your own business.

Most franchise owners enjoy the benefit s that result from a proven business model. Thus, earning a six-figure income can be a very good incentive, but remember that there are no guarantees in life. Also, it is important to realize that often statistics show that it takes a few years of hard work before you can realize the fruits of your labor.

For some, income and lifestyle go hand-in-glove. For others, working from a home office, being with the family, or getting away from shift-work are other key factors for wanting to run a franchise.

In addition to training provided by a franchisor, you should have some practical business knowledge and experience. Being the “boss” often requires a lot of personnel responsibility and large doses of “the buck stops here” attitude.

Owning a franchise can be very rewarding financially as well as personally. If you are a goal-setter and an achiever, franchising can offer opportunities that will challenge you to address and overcome.

While none of these reasons or statistics stand totally infallible, they do underscore the importance to contact an expert franchise consultant for guidance in this critical business decision.

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What to Know when Working with a Franchise Consultant

You’ve convinced yourself that owning a franchise business is your goal. Now you are wondering, “Where do I start the process of finding the right one for me?”

More than likely, your best resource may not your brother-in-law, or old high school buddy or golf partner, but rather a professional franchise consultant. It is the franchise consultant’s role to make you aware of the multitude of opportunities and to match you, the client, to the best selections of companies that fit your objectives, interests, geographics and wallet.

Stop for a minute and think how you would go about trying to weed out your franchise choices, contact all of those companies and complete all of your franchise due diligence. The internet is a great tool, obviously, in your search, but still, you have your work cut out for you. Days, weeks, months of research and frustration could lead to overwhelming disillusion in your quest for the right opportunity.

Since the consultant is acting as a matchmaker, consider this role to be somewhat like that of popular, on-line dating sources. Another way to look at franchise consultants would be as an executive recruiter. The consultant is acting similarly, that is, trying to arrange a marriage between two parties that have similar interests and goals, and who want to get involved in a long-lasting, beneficial relationship.

Furthermore, the franchise consultant can also introduce you to other resources that you will likely need, such as attorneys, accountants and financing sources. Let’s recap why it is important that you find and use a good franchise consultant:

• Works for you, gets paid by the franchisor
• Provides a wealth of knowledge and experience
• Knows industry trends
• Has awareness of markets, regions
• Saves you time and money researching
• Offers insight into franchises that match your interests, goals and finances
• Provides referrals to other key resources

Another good reason to find a franchise consultant to help you in your search is that the consultant can connect you with literally dozens of potential franchisors. Simply trying to work one-on-one directly with a company franchises its units limits your choices and consumes an extraordinary amount of your time.

Bottom line is that you have come to the right place—FranFinders. When you work with us you receive the benefits of knowing that we are in your corner:

• Professionally trained consultants
• No cost or obligation for you
• Contacts with hundreds of major franchisors
• Trustworthy source of valuable insight in franchising
• Simplification and time optimization
• Authentic commitment to help you succeed

Contact a FranFinders expert Franchise Consultant today to meet us and decide for yourself how we can help you fulfill your dream as a franchise owner.

2010 Snowstorms in Atlanta are Good for Small Business.

Snowstorms in Atlanta and the Southeast are Good for Small Businesses.

With the down pouring of flakes, cities like Atlanta in the Southeast seem to freeze-up. Consumers likely to go to the mall or run a few errands are deciding to stay safe and keep inside.

How does this effect the local business economy? Well, if you own a small, home-based franchise, it does not effect you at all. By eliminating the need for customers to travel to a location, home-based businesses have an advantage during stormy weather. They can continue normal business operations without sacrificing sales.

Additionally, with consumers stuck indoors during a snow storm, it gives them additional time to “surf-n-shop” the internet. Having a retail-based retail concept would capture this “captured” market.

Finally, if roads are unsafe for traveling, your home-based business can stay active. As the owner, you would not need to get out and travel. Unlike a route owner or delivery service.

For the home-based small business owner, during Snowstorms in Atlanta and the Southeast, the phrase that pays is, “Let it snow, let it snow, let it snow!”

If interested in finding out more about small business, especially franchises, visit www.FranFinders.com.