80% of franchise owners have just one unit, or location in their possession. The goal with franchise investors today is to own multiple locations or branches in order to build up an empire of sorts. In order to expand you must be willing to put in hard work as well as change up your business model to stay competitive in the location of your new businesses. What would you best franchise tip be to anyone out there looking to invest?
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2014’s 5 Hottest Franchises
We can already state that fast food services and cleaning services will continue to be a hot franchise trend in 2014 but what about some that might not be so obvious? Check out our list of ones you might not be thinking about. Do you have any other franchise options to look out for in 2014?
Invest in These Top 3 Youthful Franchises
Investing into a franchise that appeals to a younger crowd is always a good idea. You really should aim for appealing to people between 18 and 24 as they make a huge difference in the marketplace. While young people used to focus mainly on dining out, more and more of this age demographic has been more focused on their health and taking care of their bodies.
Becoming a Franchise Owner: 3 Scary Truths
If you can’t handle stress on the job then owning a franchise may not be for you. It can be intimidating when thinking about the costs and obligations involved. But for those of us who can handle the stress on a regular basis, becoming your own boss is a great idea.
It’s Not Always Better to be Bigger
A lot of businesses have made drastic changes to survive and succeed during this recession. The ones that are still around today took action to save their businesses by downsizing and cutting costs. The companies and business owners that took a while to make any changes either survived or folded.