How widespread is franchising?
The answer may surprise you. In 2000, most analysts estimated that franchising companies and their franchisees accounted for $1 trillion in annual U.S. retail sales from 320,000 franchised small businesses in 75 industries. Moreover, franchising is said to account for more than 40 percent of all U.S. retail sales. Industry analysts estimate that franchising employs more than 8 million people, a new franchise outlet opens somewhere in the U.S. every 8 minutes, and approximately one out of every 12 retail business establishments is a franchised business.
What kind of investment is necessary to buy a franchise?
Investment requirements differ tremendously. It all depends on the industry and the type of business. Total start-up costs can range from $20,000 or less, to over $1,000,000, depending on the franchise selected, and whether it is necessary to own or lease real estate to operate the business. Moreover, the initial franchise fee for most franchisors is between $20,000 and $40,000. In an IFA survey conducted in 1998 on franchising, 88 percent of franchisors charge an initial franchise fee of $40,000 or less. The survey also revealed that an average investment, excluding real estate costs, was $318,975. However, there are many great franchise options at all investment levels.
Would I make a successful franchisee?
A successful franchisee should be suited to the industry of which he or she is a part, suited to the particular franchise company, and suited to the franchise system generally. Important questions to ask yourself include: Am I suited to the industry physically and by experience, education, learning capacity, temperament and financial ability? What type of work is most appealing to me; for example, do I enjoy working with food, mechanical things, people, real estate, books and recordings, sporting goods, etc.? Am I prepared to work hard and take financial risks? Do my advisors, family, and friends think I am adaptable and trainable? How do I react to controls? Am I a "loner", resenting authority and restraints, or can I accept guidance and direction happily? If I prefer to act as a passive investor in the franchise, will the company accept this? How do I personally feel about the company's image and products and services? The right answers to these types of questions help determine your potential success as a franchisee.
How do you explain the success rate for franchised businesses?
"Success" is a subjective term. A September and October 1997 Gallup Organization study on franchise owner's and attitudes towards their franchise experience revealed that more than nine of ten franchise owners stated that they considered their franchise to be somewhat or very successful. Two of three respondents said that they would not have been successful if they tried to open the same business on their own. The franchising system is designed to provide a formula for operating a successful business. Unavoidable business mistakes have been worked out of the system through experience and the franchisor is available to assist when new challenges arise. The Small Business Administration says most businesses fail from lack of management skills. With a franchised business, your franchisor should be eager to help you overcome problems. Your hard work and the franchisor's expertise spell a strong partnership.
Why would I want to buy a franchise?
Franchises have the highest success rates and the lowest failure rates of any business in North America today! Over 95% of all franchises are still in business after 5 years, and 90% after 10 years, because they all come with built-in proven success formulas used by franchisees across the country. When you purchase a franchise you will receive on-going support for the life of the franchise. By on-going I mean, marketing, training and management support guaranteed by your agreement with the franchisor.
What’s the future of the adult day care business as a franchise investment opportunity?
According to the U.S. Census Bureau, by the year 2030 this country will be home to 72 million seniors – with a longer life expectancy than any previous generation. As a result of this shift to an “older America”, there is a compelling need for adult day care services. Numerous studies at the university, state and federal levels have identified a dramatic shortage in this segment of the day care industry.
What are the top franchise opportunities available today?
Entrepreneur Magazine has listed the adult day care business as “one of the best kept secrets in America today” and one of the “top fastest growing business in the U.S.” Shortage of quality adult day care facilities + Growing senior population base = Tremendous business opportunity.
How do I find out more about a Care Club adult day care franchise opportunity?
Send us your inquiry or questions today. Send an e-mail today to our VP of Franchise Development, Carolyn Dowd at
This e-mail address is being protected from spambots. You need JavaScript enabled to view it
.
Do I need healthcare or senior care experience to get into this business?
No you don’t. A Care Club franchise gives you the complete staffing, management, training, property and facility design, guidelines, regulations, policies and procedures to start and maintain one or more facilities. Our management staff has the experience and expertise to direct your franchise operations.
What’s the Care Club difference compared to other adult day care providers?
Care Clubs will provide an unparalleled level of quality, credentialed day care to our clients, in a caring and loving environment by trained professionals, and a respite to the family caregiver so they feel comfortable and assured their loved one will receive personalized health services and social activities in a family environment on a daily basis. No other adult day care provider places this strong emphasis on the needs of the caregiver.
|
|
