If you’re looking for a top ten franchise, you have to first realize that the franchises in the worldwide or country-wide top ten lists are not going to be the same as your own personal top ten. This is because every person who wants to run a franchise has very different needs and goals in mind. Franchises are now so ubiquitous that you can find franchises for just about anything and for any budget – whether or not they is going to be a good choice for you all comes down to personal circumstances and whether or not the franchise is willing to share a significant portion of the pie.
When you’re making your own personal top ten franchise list, first check out what kind of percentage and royalties the franchise is looking for from your profits. There are a wide range of different contracts and setups, and how much money you ultimately make is going to be constrained by how much you need to send back to the franchising company. Do not get too dazzled by the ‘gimmicks’ of some of the franchises – you want to know how much you will be paying for and what you will get for this.
A lot of franchising companies will specify quite a lot of details about training they will give you. This, depending on your own background and the actual type of franchise, can sometimes be of little use. If the franchise focuses too much on this part of the deal then you may smell a rat, as they might be hiding the fact that they don’t give you too much for your initial and ongoing fee. Top ten franchises in the country are those that have a great product and real backup for that product, not simply selling you the very bare bones and expecting you to flesh out too much.
Of course there is a balance between being able to put your own mark on your franchise and utilizing the name for profit. Some franchises allow you to have complete control over how you sell the product, and simply give you the basic product and product information at a low price. This is great for those products that could sell well but are not particularly well known on the market place. You may find that you’re able to put your own local spin on the franchise which make it sell even better than if you have a franchise that is known across the country.
Most of the top ten franchise opportunities also have a famous name behind them, and this is something you are paying for – the customer will instantly recognize the brand and therefore trust has already been gained. In some cases this foot in the door is worth more than anything you’ll get from the franchise company, so depending on the product or service it may be the most important things when it comes to choosing your franchise – so do a lot of research into how the brand is perceived in your area.