Anyone know anything about franchising?

Flash Gordon

Flash Gordon

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I woke up after an afternoon nap and was smacked-upside-the-head with an idea for a business idea I believe would flourish rapidly


It could easily become an International business :coolgleam:
 
my experience with franchises are they are good for the franchor, not to good for the franchisee.
just my opinion.
 
glenn l said:
my experience with franchises are they are good for the franchor, not to good for the franchisee.
just my opinion.
Click to expand...

Yes, this is how I've always felt myself :iagree:

I was wondering if there was a way where each franchisee owned a stake in the company. The business model I'm thinking of could be easily be tied into detailing. I also feel once you got this business up and running, you could easliy hire others to do the work

I'm thinking if there was a group of individuals from all parts of the country/world that bought into this concept we could corner the market

This business also wouldn't require a ton of capital to get up and running

I'm very excited about this idea :)
 
Um..Flash..I think someone has already done this with one of those waterless wash deals. Seems to me we had one of those Moonies on another forum before he got banned.
 
I heavily researched franchising last year. A ton of capital is an understatement. I found that I would have needed to run the business model for a few years to see if it was even viable as a stand alone company much less a national franchise. Market research alone can cost in the tens of thousands. It is not a fast nor easy process.
 
Flash:

I've had a couple of friends that tried both ends..franchising a business, and being a franchisee. (Being a franchisee of a Dairy Queen operation proved very lucrative for the one; being a franchisor for a metal fab shop not as lucrative, but his business is still ongoing)

Because of that, I'd say that there's a couple of things to keep in mind about franchising a business (being the franchisor) and selling franchising licenses to potential franchisees.

First off:
You need to register your business's brand name, trademark, and, (as David Letterman and the TV networks found out), any "intellectual properties" that might be unique to your business.

Second:
I believe to legally sell franchises one has to file with the appropriate State and Federal agencies their franchise contract agreements and a Franchise Disclosure Document.

Third:
What is the marketing plan for franchising (IMO...differs from a business plan)

Fourth (Looking at this from a franchisee's standpoint)
Why would I want to be a franchisee?
1.) Is this business credible
2.) How long has this business been established
3.) Is this business well recognized
4.) Is there a training/operation manual that's easily understood that will facilitate "learning" the business model (I think fast food operations)
5.) After paying the bills, including the franchise fee, what is the profit margin compared against my investment

Fifth:
Due to our societies laws, and against my better judgement, it is imperative to seek advice form an attorney...in this case, a Franchise Attorney. :(

Good luck in your enterprise! Keep us abreast of any progress.
(I just might want to get in on this, I really don't want to have to 'make' the wife work forever.) :D

Bob
 
Setec Astronomy said:
Um..Flash..I think someone has already done this with one of those waterless wash deals. Seems to me we had one of those Moonies on another forum before he got banned.
Click to expand...

No Setec. Its nothing like that, but your response made me chuckle so thanks ;)

Porsche Pilot said:
I heavily researched franchising last year. A ton of capital is an understatement. I found that I would have needed to run the business model for a few years to see if it was even viable as a stand alone company much less a national franchise. Market research alone can cost in the tens of thousands. It is not a fast nor easy process.
Click to expand...

Without getting to deep into my idea. Much like Detailing, this business wouldn't require alot of money for equiptment, nor would you need a storefront for every location :)

FUNX725 said:
Flash:

I've had a couple of friends that tried both ends..franchising a business, and being a franchisee. (Being a franchisee of a Dairy Queen operation proved very lucrative for the one; being a franchisor for a metal fab shop not as lucrative, but his business is still ongoing)

Because of that, I'd say that there's a couple of things to keep in mind about franchising a business (being the franchisor) and selling franchising licenses to potential franchisees.

First off:
You need to register your business's brand name, trademark, and, (as David Letterman and the TV networks found out), any "intellectual properties" that might be unique to your business.

Second:
I believe to legally sell franchises one has to file with the appropriate State and Federal agencies their franchise contract agreements and a Franchise Disclosure Document.

Third:
What is the marketing plan for franchising (IMO...differs from a business plan)

Fourth (Looking at this from a franchisee's standpoint)
Why would I want to be a franchisee?
1.) Is this business credible
2.) How long has this business been established
3.) Is this business well recognized
4.) Is there a training/operation manual that's easily understood that will facilitate "learning" the business model (I think fast food operations)
5.) After paying the bills, including the franchise fee, what is the profit margin compared against my investment

Fifth:
Due to our societies laws, and against my better judgement, it is imperative to seek advice form an attorney...in this case, a Franchise Attorney. :(

Good luck in your enterprise! Keep us abreast of any progress.
(I just might want to get in on this, I really don't want to have to 'make' the wife work forever.) :D

Bob
Click to expand...

I talked with someone today much smarter then me. They really liked the idea (I think) they gave me the name of the next person I should contact (Atty) and other steps to take thereafter

This is a Trillion dollar industry. I just want a small slice of the pie :hungry:
 
Flash Gordon said:
This is a Trillion dollar industry. I just want a small slice of the pie :hungry:
Click to expand...

Wait...this isn't the "financial industry", is it? Cuz a bunch of Wall Street guys already had that idea, where they call it an "industry" but they don't make anything, they just take all our money to "invest", but somehow we don't seem to make any money because of "market volatility" but they always seem to have a new Benz and a new beach house...and they wife always has a new boob job. But maybe I just don't understand business.
 
Setec Astronomy said:
Wait...this isn't the "financial industry", is it? Cuz a bunch of Wall Street guys already had that idea, where they call it an "industry" but they don't make anything, they just take all our money to "invest", but somehow we don't seem to make any money because of "market volatility" but they always seem to have a new Benz and a new beach house...and they wife always has a new boob job. But maybe I just don't understand business.
Click to expand...

Nope, not that either

I've dealt with my share of brokers over the years and can honestly count less then 5 that I respect. Most are nothing more then a used car salesman wearing a fancier suit
 
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