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Franchise Purchases
"Don't re-invent the wheel" is a common adage. The franchisor offers a role model of a proven track record of success. This is its greatest drawing point. Nine out of ten franchises reported profit in 2002. Franchises provide complete business methodology, continuous management support, greater exposure, shared expenses and minimal risk. In considering whether to invest in a franchise opportunity, research which type of franchise is most suitable for you and what type of small business loans are available. The 10 top franchises in 2005, according to Entrepreneur.com, were:
Subway, Curves, Quiznos Sub, Jackson Hewitt Tax, UPS Store, Sonic Drive, Jani-King, 7-Eleven, Inc., Dunkin' Donuts and Remax, Inc.
Nearly 400,000 franchises employ more than 9.8 million people, with a payroll of $230 billion. There is a new franchise opening in United States every 8 minutes. Approximately one out of every twelve retail outlets are franchises. As many baby boomers today reach retirement, they are looking to franchises as an investment, along with people who have severance packages.
Franchises are turnkey systems of duplication, with proven track records of success. As an entrepreneur starts up a new business, it is beneficial to have a strong support team and training offered by franchises. Find more examples about IUG clients that succeeded both with franchises and individual businesses.
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