As with many decisions we make in our lives in the
21st century, beginning the process of searching for the ideal franchise
opportunity can be successfully done on a computer from the comfort
and convenience of your home. In fact, if you prepare yourself wisely
and visit reputable websites, you can narrow down your search and
do most of your research to find your dream business opportunity
via the Internet.
Dr. Callum Floyd, a franchise consultant and founder of the New
Zealand-based web resource Franchise-chat.com
commented, "Ten years ago, the search for franchising information
and franchise opportunities was far more physical, time consuming,
and costly. Today, information and expert advice is far more accessible.
At the click of a mouse, we can find numerous resource articles
about all aspects of franchising, rapidly explore and compare a
huge range of franchises, and see what others think about a particular
opportunity. Furthermore, we can easily find and seek specialist
advice - from all corners of the globe."
First and foremost before you begin the search process, you be must
prepared. Explore your interests, goals and needs:
- What are your goals? Do you desire to ultimately work part-time
and spend more time with your family? Do you want a giant home
and a luxury car? Where do you want to be in a few years?
- Look at your interests. Have you always been interested in
cars, or enjoyed re-building homes? Did you always envy the business
coaches that came to your corporate office? Do you want to manage
the growth of a business, or work hands-on? These questions will
help you figure out which of the many industries that encompass
franchising might be right for you. From ice cream stores and
automobile glass repair services to learning centers for children
and tax service providers, there's a business for everyone.
Next, look at your finances. Keep in mind that most businesses
don't become lucrative right away so you might need to sustain yourself,
financially, for several months or more. Now figure out how much
liquid capital, money available for you to use right away, you have
to spend on your business. Remember that if you are qualified financially,
you may be able to get additional financing from a bank or lending
"The Internet is a fantastic starting point for finding the
perfect opportunity. An extensive array of information is available
online, enabling prospective franchisees to satisfy many stages
of the franchise selection process," said Floyd.
Do your homework. Be well-informed about the world of franchising:
How franchises work, how the process of buying a franchise unfolds,
and what is new news in the franchise community. To keep up to date,
you must have reliable sources for information. Not all franchise
related websites are equal. Franchise
Solutions is a reliable place to do research on particular opportunities
and narrow down your search until you find your dream business.
The website also has a dependable resource
center which showcases an array of tools, resources, and a huge
library of articles on topics ranging from how to get financing
to interesting interviews with franchisors and franchisees.
Dr. Floyd's website, Franchise-chat.com,
is a unique and successful mixture of breaking franchise news, hand-collected
from around the world by Floyd and his staff on a daily basis, and
an insightful franchise chat forum in which prospects, franchisees,
and franchisors can ask questions, voice their opinions, and give
suggestions on an array of franchise-related topics.
The International Franchise
Association's (IFA) website
is also a valuable and reliable source of information and resources
for the seasoned franchise professional and the prospective franchisee.
Every member and prospective member of the franchising community
can find useful information, training courses, and dates of interest
on this valuable website.
While much of your research can be done online, remember to do
your due diligence. "In addition to Internet research, physical
cross-referencing should also be undertaken. Prospective franchisees
should speak/meet with existing franchisees and franchisor representatives,
independent legal and business specialists, and prepare a feasibility
study for operating within the projected area," suggests Floyd.
Begin Your Search Now!
Day or night, from an Internet café or from the comfort of
your home, you can begin the journey to business ownership. The
Internet is a powerful information machine which brings opportunities
and prospective entrepreneurs from around the world together. Reliable
websites will yield a wealth of information for you.
"The task of learning about franchising, searching and evaluating
franchise opportunities, finding funding, and seeking professional
advice, has been revolutionized by the Internet and related technologies.
Forward thinking, innovative companies like Franchise Solutions
Corp. have developed powerful online franchise information tools
which provide critical information and advice to prospective franchisees,"
Need More Guidance?
Some people love the fact that they can search for a business via
the Internet: There's no initial pressure to buy and you can take
your time and be thorough with your research. On the other hand,
the search can be an overwhelming task for some entrepreneurs. If
you feel like you need the support and guidance of a pro, you can
find a dependable and reputable franchise consultant online. FranchiseBuyer,
a network of seasoned franchise consultants located around the United
States, can help. On their website, you'll find a franchise self
test which will quickly and easily tell you if franchising is right
for you. From there, you can request a free consultation with a
franchise consultant who will be assigned to you. That consultant
will get to know you, your interests, and your goals, and then recommend
businesses that meet your needs. FranchiseBuyer's services are completely
free of charge to you and you will be under no obligation to buy
a business through them. If you need a little more guidance, a personal
franchise consultant is certainly the way to go.
One Franchisee's Online Journey to Business Ownership
Rickie Felder was the CFO of a company. His career was booming,
but he couldn't sleep at night. "I just couldn't make some
of the decisions I was being forced to make in the corporate world.
I did not feel comfortable and I wasn't quite sure what I was going
to do with my life, but one day I quit," explained Felder.
"I took time to think about my life. I went to Florida and
just thought about things. My wife thought I was crazy," Felder
Felder had always been interested in corporate training but had
never thought much more about it. As he tried to figure out what
he wanted to do with his life, financial considerations came into
his mind, "I didn't want to find partners to help me finance
a large business. I wanted to be my own boss, on my own," he
"I use USAToday.com all
the time. I love the website. It was an easy decision for me to
go to USA Today's Franchise Center (powered by Franchise solutions).
I searched opportunities by investment level and was able to figure
out what kind of business I wanted from the list of opportunities
I could afford. When I spotted the training and consulting businesses,
I knew I had found what I wanted to do," said Felder.
Today, Rickie Felder lives in Mississippi and owns a 360 Solutions
and a Profiles International. He discovered both opportunities in
USA Today's Franchise Center.
"When you're looking to open a business, you need tools. Tools
to do research. Tools to find financing. Franchise Solutions provides
the whole tool shed! I was able to find all the information I needed
to locate the right business for me on USA Today's Franchise Center.
Today, I have survived that first year in business. I'm getting
really excited about my businesses, and feel like I am living the
American Dream," Felder concluded
Reprinted with permission from Pamela Gold at Franchise Solutions.