{"id":3649,"date":"2021-03-23T08:14:57","date_gmt":"2021-03-23T12:14:57","guid":{"rendered":"https:\/\/chapspitbeef.com\/?p=3649"},"modified":"2021-03-18T06:05:27","modified_gmt":"2021-03-18T10:05:27","slug":"signs-of-successful-franchises","status":"publish","type":"post","link":"https:\/\/chapspitbeef.com\/signs-of-successful-franchises\/","title":{"rendered":"5 Signs of Successful Franchises"},"content":{"rendered":"
Investing in a franchise<\/a> is becoming an increasingly popular way to generate income as well as essentially becoming your own boss. But before you invest, you want to make sure you are hedging your bets the best you can by going with one of many possibly successful franchises. This ensures you have the best possible return on your initial investment.<\/p>\n But going through a franchise list can be daunting when a large portion of them look like incredible opportunities. It can be pretty straightforward getting rid of the obvious scams and bad ideas, but how do you determine from that point, what the best franchises to invest in are? There are countless ways you can give investors a fighting chance, here are five of the best.<\/p>\n This is arguably one of the most important things to investigate and research before you really get started. You want to target an industry that has not only avoided shrinkage but is showing active steady growth. Use the information that prospective franchisors provide, but also research on your own and incorporate that into your decision.<\/p>\n Be aware of bubbles and trends with unsustainable growth. This is also seen as a \u201ctoo good to be true\u201d or \u201ccan\u2019t lose\u201d type of pitch. If you are looking at a franchise with explosive growth recently, extrapolate that out 5 or 10 years, and ask if that would be an oversaturated market. If you answer yes, then the franchise may be successful in the short-term but may represent a market bubble that could eventually burst.<\/p>\n Look for industries that show consistent growth, and which are more resistant to economic or market trends<\/a>. A great example of this is many of the top franchises<\/a> in the fast convenient dining industry during the recent global pandemic. Many were deemed essential, so they were able to continue to operate in some capacity, which allowed them to weather the worst of the shutdowns relatively comfortably.<\/p>\n Your potential franchisor should have a reputation for giving their franchisees, new and experienced, top-tier support. The franchisor should be able to show you a plan and a framework for how they will help support you in your investment. While owner-operators are expected to put in the hard work needed to make their investment successful, they are not expected to do it all alone.<\/p>\n Corporate support should have operations and procedures to not only train and educate you on running a business, but also how to hire, train, and guide employees. They should have consistency in their marketing campaigns, guidelines, and customer engagement structures so that the brand holds consistency with its market. This should extend to honesty in any communication or issue that you have. If you ask some tough questions, do you find that you get answers, or do you get the runaround? If you can\u2019t get solid answers before you invest, why even cut the check?<\/p>\n1. Industry Growth<\/h2>\n
2. Franchisor Support<\/h2>\n
3. Good Corporate Management<\/h2>\n