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What does your Franchise Fee Pay For?

A common question among those new to franchising is: "What exactly does my franchise fee pay for?" You wonder why you should pay ten or twenty thousand dollars or more for what may initially seem like only the rights to use an established business name.

Well, a good chunk of your franchise fee DOES pay for use of name, so let's address that first issue right off the bat. What's more valuable to you on your first day of business, for example: the name "Dairy Queen" or "Joe's Ice Cream"? Which name is more recognized and trust-worthy to the traveler who passes your sign? I think you know the answer.

But you are also paying for experience. In the case of Dairy Queen, they have spent decades developing products and recipes that the public is familiar with and want. The actual ingredients in the products cost you much less because they are being bought in bulk for the benefit of all franchisees.

You also get the benefit of nationwide and/or regional advertising which benefits all franchisees and costs much less per store or area than buying at a local level.

Another important item in your franchise fee equation: Experience. The franchisor (and franchisees before you) have learned what works and what doesn't. This means you won't be paying for mistakes of trying to run your own operation.

 

 

Variety is the Name of Today's Small Business Franchise Opportunities

Franchise businessnes no longer operate just restaurants. There is literally something for everybody. Did you know there is a franchise business catering to the interests of bird watchers? Several franchise opportunities for pet lovers? A franchise business which produces giant wall-sized photo posters?

The opportunities below are by no means all-inclusive, but meant to show the incredible diversity of types of businesses available for franchise today.

In the Automotive Field are franchises for body shops, fleet maintainence services, quick oil change shops, auto glass repair, tool vending, and tire stores.

Business Service franchises include ink cartridge refilling, signage shops, workplace safety services, commercial cleaning, payroll services, parking lot striping, specialized printing, employee recruiting, and consulting services.

Franchise Children's Services include kiddie salons, tutoring, day care, kids camps, toys, sports camps, and even guard services.

In Health and Fitness franchises are gyms and sports clubs of all types (health clubs, karate, boxing, yoga, pilates, tennis), plus back and foot pain relievers, health foods, diet systems, and teeth whitening.

In the Home department, find franchises for carpet cleaning, tile sales and installation, handyman services, swimming pool services, bathroom remodeling, emergency cleanup, maid service, and more.

The Retail segment has been the fastest growing area of franchising, with stores offering party supplies, DVD and game rentals, postal and shipping services, golf equipment, pet supplies, shoes, tanning, dollar stores, convenience stores, and almost any other product line you can imagine.

If there isn't a franchise out there that catches your interest, then maybe it IS time for you to open your OWN business! Good Luck!