Frequently
Asked Questions About Service Franchises
Are You An Entrepreneur
at Heart?
And are you just trying to find the opportunity that will sweep
you off your feet into self-employment? If you want to own your own business,
yet want to enjoy the benefits of a large company, then franchising is your
answer. Investors, as well as financial institutions are finding that few financial
investments can compete with the potential income and personal growth of an
established and reputable franchise.
If you are looking for a proven business
model, a well-recognized trademark and the benefits of group purchasing, all
while maintaining your independence and freedom, find the service franchise
that is right for you.
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What
is a Service Franchise?
Service Franchises promise lower
investment and lower overhead. With a service franchise you may operate your
business from your home or from an office location, but many mobile franchise
owners begin their businesses operating from their home. As their business grows
and develops into a multi-truck operation, they move to an office location with
facilities to accommodate the fleet. However, there are some service franchises
and businesses that may not develop into a multi-truck operation, nor need to,
thus, a home-based operation will suffice.
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What
Industries Make Up the Service Franchise World?
A service franchise is classified as any business that doesn’t
require a fixed location in order to function and succeed. Our inventory of
service franchises provides you with a variety of businesses. These include,
but are not limited to, mobile retail outlets, mobile computer services, mobile
commercial cleaning operations, mobile oil change businesses and many more!
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What
Are the Benefits of a Franchise?
A franchise is already a functioning business system. While
entrepreneurs must utilize thousands, millions or even billions of dollars in
order to set up a profitable business model, a franchisee can step into an already
established concept, with much less risk for failure involved. For example,
are you aware that as many as 80% of new business start-ups fail each year?
An already functioning business model will put you heads and shoulders above
the novice entrepreneur who not only needs to generate profits, but also needs
to develop a profitable business model.
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How
Do I Find Out About the Franchisor?
Retain the mandatory franchise document Uniform Franchise
Offering Circular (UFOC) This document is legally required to be prepared in
agreement with the rules of the Federal Trade Commission (FTC). It contains
details on the principals, their financial history and other important information
- including the current franchise agreement. Within the UFOC you should expect
to find an updated list of franchisees, which we suggest meeting with a select
few. Learn about the business and be sure you’re still interested. Additionally,
we support visiting with the franchisor before you commit to an investment.
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Will
The Franchise Help Me Finance My Investment?
Financing capabilities will
vary from franchisor to franchisor, there is not a set of rules in place. If
financing is something that is important to you, you can search find that information
in the brief profiles that are displayed along with the individual franchise’s
advertisement. In addition to receiving financing from the actual franchisor,
you can use other resources as well. Seek assistance from friends & family,
lending institutions and the Small Business Administration (SBA). Additionally,
servicefranchise.com offers a Resource
Center with lenders who want to help.
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