What exactly is a Franchise?
When a company licenses its trademarks and methods (this can include working practices, or recipes and ingredients etc) and then allows individuals to invest a sum of money with them in exchange for the rights to use that trademark, and method(s) to create a clone of the companies business we call this a ‘Franchise’. Usually the investor will also get some kind of ongoing support or supply from the Franchisee either indefinitely or for a predefined period of time at least.
The Problem With Most Franchises
There are several drawbacks when it comes to Franchise businesses which is why it is wise to look into the various franchises out there in order to find the very best franchise opportunity that suits you. Some of the drawbacks include:
- Extremely high investment required (we will look at some figures later below)
- Some ongoing fees – many franchises have a monthly franchise fee or royalty fee, and some even take a percentage of your profits
- With many companies you still have to purchase the branded materials from them (so these additional costs must be taken into account)
- Some franchises will require your business premises to be in a certain location or even supply the premises to you and charge you a hefty monthly or annual rental fee over which you have no choice.
- With some franchises investments requiring $150,000 to $500,000 initial outlay, you have to consider how long before you are likely to see any profit and return on your investment. The reality is that as a franchise owner you are going to have to work all the hours god sends and work your butt off for several years before you see any kind gain. So for those who think buying into a popular franchise is a quick way to become financially free, think again.
- Many people want to be their own boss and don’t realize the hard work and dedication needed to make ANY business work will be no different to working for someone else just as you may have been doing for the past years. It’s a common miss-conception to think that you can buy into a franchise sit back while someone else does all the work and reap the profits from day one. There are LOT of additional overheads involved in all tangible businesses especially stock, property and rental charges not to mention employees salaries.
Cost Requirements For Some Well Known Franchise Businesses
- 1. Subway (sandwiches and salads) | startup costs $84,300 – $258,300 (41,916 locations worldwide in 2015).
- 2. McDonald’s | startup costs in 2010, $995,900 – $1,842,700 (36,368 Locations in 2015)
- 3. 7-Eleven Inc. (convenience stores) | startup costs in 2010 $40,500- $775,300, (56,439 locations in 2015)
- 4. Hampton Inns & Suites (midprice hotels) | startup costs in 2010 $3,716,000 – $15,148,800
- 5. Great Clips (hair salons) | startup costs in 2010 $109,000 – $203,000 (3,694 locations in 2015)
- 6. H&R Block (tax preparation and now e-filing) | startup costs $26,427 – $84,094 (10,800 locations in 2015)
- 7. Dunkin’ Donuts | startup costs in 2010 $537,750 – $1,765,300
- 8. Jani-King (commercial cleaning) | startup costs $11,400 – $35,050, (11,000 partners worldwide in 2004)
- 9. Servpro (insurance and disaster restoration and cleaning) | startup costs in 2010 $102,250 – $161,150
- 10. MiniMarkets (convenience store and gas station) | startup costs in 2010 $1,835,823 – $7,615,065
Mid-sized franchises like restaurants, gasoline stations and trucking stations involve substantial investment and require all the attention of a businessperson [above source Wikipedia https://en.wikipedia.org/wiki/Franchising ]
So What Is The Best Franchise Opportunity
For those looking for the best franchise opportunity who understand there is some investment required (far less than than the physical franchise examples above) and for those who know they are looking for a real business and will treat it as a real business, i.e. put in the time and effort required to become profitable and successful, then there is an Online Business Franchise, which I consider to be the best franchise opportunity of 2017 and probably the best online opportunity ever, period.
It’s a business that was created by an internet millionaire, and who has partnered up with another online entrepreneur and millionaire that offers franchisees a chance to own a cloned copy of their membership website, sales funnels and all the traffic methods, email follow ups, and software that generates them Millions of dollars and as you would expect with a franchise it comes with their full backing , support and training and the even do the selling for you.
Unlike other franchises there is no franchise royalty or ongoing payments, and the initial franchise cost is much, much less than your average brand franchise we have seen above.
What Is This Franchise I’m Talking About?
It’s the My Dot Com Business Franchise (MDCB) and it was created by Paul Lynch who made 3.2 Million in under 2 years from his exact same website, and has now partnered up with Shaqir Hussyn (another self made online millionaire) to create the ULTIMATE dot com Franchise.
Nothing like this has ever been done before and it is already a massive success with over 200 franchisees in the first period making money from the done for you system and Paul’s Target for 2017 is 100 Million Dollars (yes you read that correctly). There are several franchise levels which make it affordable for anyone, even on a very small budget that still allows you scale your business and take it to the next level.
I have made a detailed review in another post on this website. To find out more about the best online franchise and indeed the best franchise opportunity of 2016 / 2017 you should visit the OFFICIAL MDCB FRANCHISE WEBSITE HERE