Money Talks: Top 5 Franchises and Things You Need to Know
Fri, 04 Mar 2011 14:31:46 GMT —
Mike Zebib, Dominos Franchisee, says, " You're opening a new business, but with built-in customers. You're already...people know who your are. Know what you're product is. And that's the advantage you have from opening a franchise.
Mike Zebib makes a lot of dough: he owns 11 Dominos pizza franchises.
A franchise is a ready-made business that starts with most of the ingredients you need for success: the product, the location, the advertising, the training. You just add the money and the time.
Dominos was recently named by Forbes as the top US franchise for the buck. They considered four factors: investment required, total locations, survival rate, and the number of training hours offered to new franchisees.
Here's a look at the top 5 with average cost to get cooking. After Dominos was 7-11, Kumon Learning Centers, McDonalds and Papa Murphy's take-and-bake pizza. As you can see, none are cheap.
Plus, franchisees have to share the pie with headquarters. Still, they're a way to improve your odds with a proven product. Want to be like Mike? Here's his advice when approaching a franchise...
Zebib says, "Know what the business is all about, know what you're getting into, make sure you love what you're going to do. Third thing that you got to make sure you can deal with people and you can take and give orders."
But that's not all you need to know. If you want to learn more about the advantages and disadvantages of franchising, as well as other top franchise picks, check me out online at moneytalksnews.com.