{"id":4974,"date":"2020-04-15T17:50:32","date_gmt":"2020-04-15T21:50:32","guid":{"rendered":"http:\/\/caseyfunding.com\/?p=4974"},"modified":"2022-10-21T15:53:05","modified_gmt":"2022-10-21T19:53:05","slug":"how-to-succeed-when-getting-into-franchises","status":"publish","type":"post","link":"https:\/\/caseyfunding.com\/how-to-succeed-when-getting-into-franchises\/","title":{"rendered":"How to Succeed When Getting into Franchises"},"content":{"rendered":"\n

Whether you\u2019re launching your first location or expanding your franchise empire, being a franchise owner is an exciting opportunity to invest wisely in your community. A franchise comes with plenty of resources to help you succeed where other small businesses fail. However, franchises aren\u2019t destined to succeed. Learn how to avoid common pitfalls and create a successful business with these tips.<\/p>\n\n\n\n

Related article: 5 Hacks for a First-Time Franchisee<\/a><\/p>\n\n\n\n

Choose the Right Franchise<\/strong><\/h2>\n\n\n\n

The foundation of your franchise small business is the franchise itself. There are dozens of factors that determine the best business to partner with, so carefully consider the pros and cons of each type. If you have a particular industry in mind, such as food service or retail, don\u2019t forget to broaden your search for any excellent franchise outside of that industry.<\/p>\n\n\n\n

The best businesses to partner with include low startup fees, low commissions and other hidden fees and plenty of marketing, promotional and training materials to help you succeed. There are some other factors to consider, like current franchises in your area. It\u2019s also a good idea to conduct some market research to determine the needs in your area.<\/p>\n\n\n\n

Pick a Perfect Location<\/strong><\/h3>\n\n\n\n

Location is another challenge you need to overcome early on. Look at the area thoroughly. This includes population, traffic, nearby stores, competition and any other factors you may want to consider. Check for year-round statistics as well, so you aren\u2019t fooled by a large amount of traffic that are seasonal. Balance low-cost and high-demand areas to find the best location for your new building, or purchase an existing building that you can take over and improve.<\/p>\n\n\n\n

\"\"
Image source: franchisedirect.com<\/a><\/figcaption><\/figure>\n\n\n\n

Hire Excellent Employees<\/strong><\/h3>\n\n\n\n

Regardless of the type of business you choose, you can\u2019t operate a franchise on your own. Your employees are the face of your company, so you need to invest in quality training and quality employees. Look for dedicated, flexible, positive and experienced employees in your area who are willing to join your team and commit to the success of your store location.<\/p>\n\n\n\n

Secure the Necessary Funding<\/strong><\/h3>\n\n\n\n

Finally, opening any small business comes with significant upfront costs. Franchises in particular can come with franchise fees and other costs that may hold back some small-business owners. Look for a small-business financing option that supports your franchise and offers you the terms you need to succeed. Partner with a lender<\/a> who understands the unique costs and challenges of a franchise and can help you overcome any financial obstacles that may hold you back. Contact us<\/a> at Casey Funding if you’re interested in getting the right loan for your Franchise company. <\/p>\n","protected":false},"excerpt":{"rendered":"

Whether you\u2019re launching your first location or expanding your franchise empire, being a franchise owner is an exciting opportunity to invest wisely in your community. A franchise comes with plenty of resources to help you succeed where other small businesses fail. However, franchises aren\u2019t destined to succeed. Learn how to avoid common pitfalls and create […]<\/p>\n","protected":false},"author":4,"featured_media":5027,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[1],"tags":[115,91,52,114,110,111,112,113],"yoast_head":"\nHow to Succeed When Getting into Franchises - Casey Funding<\/title>\n<meta name=\"description\" content=\"A franchise comes with plenty of resources to help you succeed where other small businesses fail. 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