Knowing what categories of franchises that fit your desires, lifestyle, and budget is extremely important when exploring a career as a franchise owner.
For example, restaurants and retail locations such as Great Clips® usually require build-out of a fixed retail location, so they cost more to get started, and, are open longer hours in order to accommodate their market. Some franchisees find these brick and mortar operations produce more revenue than home or vehicle based franchises.
Regardless of the type of franchise that you select, it’s important to weigh the investment cost against the financial return in your franchise disclosure document.
Restaurant and Retail Franchises
Most restaurant franchises for sale fall into Café, Casual Dining or Fast Food subcategories. Retail, on the other hand, can be printing and framing, hair care, animal care, automotive, mailing and shipping, sporting goods, and much more. When you evaluate your franchise opportunity, consider how much contact you like to have with the public. Again, restaurants and retail will have a lot of contact with the public, so extraordinary customer service is a must if you intend to be successful. However, customers come to your location, and you do not have to go out and actively “sell” to them as you would with other business models. You will need to be comfortable hiring, training, managing and motivating a team to help sustain the success of your franchise so strongly consider the pros and cons of each type of business model.
About Joe Barbat
Joe Barbat founded Wireless Toyz in 1995 and grew the company from a one kiosk service center to a multi-location franchise throughout the United States. As an avid fan of all things Michigan, Joe enjoys snowmobiling, family, and recreational activities, as well as, testing the next hottest technology products to enter the wireless marketplace. Honored by both Crain’s Detroit and Ernst & Young for community involvement and entrepreneurship, Joe Barbat has a passion for developing successful franchise businesses in the wireless retail industry.