07 - Franchise Shopping
By Robert Bond
For many people, owning a business is the ultimate
expression of having arrived, or at least being on the way. Not
only is there the attraction of being your own boss and calling
your own shots, there’s the added appeal of having all your
hard work benefit your own enterprise.
At the same time, starting a business can be tremendously risky.
For those who like the idea of buying into an established concept,
franchising may be the answer.
According to the International Franchise Association,
franchising is booming. New concepts are continually being created
and introduced, and the franchise business model is showing up in
more industries than ever before.
“Franchising offers entrepreneurs a deal,” the association
writes on its website. “In return for using a franchise brand
trademark, getting operational guidance, marketing support and other
services provided by the franchisor, franchisees must pay some upfront
fees and some ongoing fees.”
The excellent odds of a franchise business can be
seen from the following statistics, provided by the association:
Franchise businesses account for about 50 percent of all retail
sales in the United States.
According to the Small Business Administration, less
than 5 percent of all franchise units fail each year. This is compared
to 30 to 35 percent of small businesses which fail within the first
year of operation.
One out of every 12 businesses is a franchised business.
A new franchised business is opened every 8 minutes
of every business day.
Upcoming Franchising Events
Franchise expos are a good way
for would-be entrepreneurs to explore different investment opportunities.
Attending a show brings to light business concepts in a variety
of industries.
Among the companies that mount these shows is National Event Management,
which currently produces 34 events annually across North America.
Here are some of their upcoming events, as well as information on
the IFA’s annual convention. For more information on the NEM
events, call 1-800-891-4859 or visit www.franchiseshowinfo.com.
For more information on IFA, visit www.franchise.org.
January 13-14: National Franchise & Business Opportunities
Show, Cashman Center, Las Vegas, NV.
January 19-21: Franchise Expo South, Miami Beach Convention
Center, Miami, FL.
January 27-28: National Franchise & Business Opportunities
Show, Pasadena Convention Center, Pasadena, CA.
February 10-11: National Franchise and Business Opportunities
Show, Phoenix Civic Plaza, Phoenix, AZ.
February 24-27: International Franchise Association
47th Annual Convention, Caesars Palace, Las Vegas, NV.
March 3-4: National Franchise and Business Opportunities
Show, Denver Merchandise Mart, Denver, CO.
March 17-18: National Franchise & Business Opportunities
Show, Meadowlands Exposition Center, New York, NY.
March 30-31 & April 1: International Franchise
Expo, Washington, D.C.
April 14 &15: National Franchise & Business
Opportunities Show, Del Mar Fairgrounds, San Diego, CA.
April 28 & 29: National Franchise & Business
Opportunities Show, Cobb Galleria Centre, Atlanta, GA.
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