If you are exploring Tulsa franchises, John Anderson aka “That Franchise Guy”, can help. He will share his years of experience and best practices in franchise ownership to help make your franchise choice easy and successful. For the latest franchise opportunity updates, contact “That Franchise Guy”, today.
Factors to Consider Before Buying a Franchise
When it comes to wanting to have your own business to run, there are several important decisions to make. The first thing you need to do is decide on how you want to go about becoming an entrepreneur.
You could choose to start something new at a small scale on your own, go a little bigger by partnering up with a few other people, or start big with investors. However, all of these options come with a range of big risks.
This is where a franchise business comes into play. Striking a perfect balance between limiting the amount of initial investment needed and providing access to a product and brand that has already met with considerable success, it is the perfect starting point for those with limited financial resources or for those who can’t afford to take big risks.
What Is A Franchise?
A franchise is a business that has an established product or service with systems in place that are both proven by others and relocatable by new business owners known as franchisees. New franchisees pay the business, known as the franchisor, a franchise fee when they sign an agreement to operate a franchise business under the franchisor’s umbrella. They will also pay the franchisor a royalty over time (usually a monthly percentage of sales). This is where franchises make their money. In exchange, the franchisee gets the ability to operate using proprietary systems, branding, and products or services developed by the franchise.
Why would someone join a franchise? In short, to make more money and make it faster than you could do on your own. So even though there are fees, and in many cases substantial fees, you should be able to project that a franchise will earn those fees by showing you how to make even more. A franchise business is the means for you to own your own business, hire your own staff, and be your own boss, with the main limitation being that you will need to operate strictly within the agreement you make with the franchise. This relationship is governed by a contract called a Franchise Agreement, written up and signed by both parties, that clearly defines the roles of both franchisee and franchisor.
Why a Franchise Opportunity Can Work for You
With all the options of starting your own business, you might wonder what makes buying a franchise such an attractive option for potential business owners. There are several factors:
- ROI: Ask anyone wanting to start a business, and one of their major concerns is the initial financial investment required to start up any business along with what they can make. Franchising often requires a bigger upfront investment than its mom and pop counterparts, but the ramp up speed to making money and the ultimate ROI and scalability to significant revenue is typically greater with a franchise. Many franchises have a low cash startup option with great financing available that essentially gives the best of both worlds.
- Improved Chances Of Success: Starting a business can be nerve wrecking and the biggest worry is if the product/service will be well received and if you will be able to effectively operate to make the revenue necessary for survival and growth. In franchising, these concerns are significantly mitigated since the product you will be selling already has an established demand and brand recognition. Plus, the business has an effective system and franchise business model in place for successful operation, which you will be allowed to use for your own business operations.
- Benefits Of Being Associated With An Established Business: As a franchisee, you will have access to the established franchisor’s resources and support on a mostly ongoing basis. Not only will you be able to benefit from their training programs and other resources, you will also benefit from the economies of scale of your franchisor, incurring lower costs, facilitating competitive pricing in the market.
- Easier-to-finance: If you need financing for starting your business, SBA and commercial lenders are typically more likely to finance a franchise option because of their stability and higher success rate. Also with many low cost franchises they get loans easier because it typically requires a much smaller startup amount than the other entrepreneurial options.
Top Tulsa Franchises
There are numerous low-cost franchise opportunities available in Tulsa and its surrounding areas. Most are home-based (but that does not mean small!). The investment-level grows when you need a brick and mortar, office or retail space for your business.
Popular Tulsa franchises include:
- Home Improvement Services
- Cleaning Services
- Property Management Services
- Home Maintenance Services
- Travel Agency
Tulsa Franchises are Hot!
Franchising is one of the hottest business trends in Tulsa and across the United States. People are loving the freedom and financial opportunity of running their own business. There are countless franchise opportunities in the Tulsa area. The relatively high success rate of franchise businesses, diverse population, availability of skilled workforce, and a low cost of doing business all combine to make Tulsa the perfect spot for small business franchising.
So, if you are interested in franchising and want to improve chances of succeeding, then Tulsa is the place to be. Contact John, That Franchise Guy, to discover the best franchise opportunities in Tulsa. His advisory services are, no-cost, proven and he will ensure your franchise investment is well spent.