Marketing – Page 3 – TP Javeton WebNet

Big ideas

Franchise businesses like Wendy’s, McDonald’s, and Jack-In-The-Box have experienced significant success over the past few decades. This suggests that those who formulate franchise ideas and establish businesses possess a keen eye for profitable opportunities.

However, it is crucial for potential franchise buyers to thoroughly investigate and analyze the franchise they are considering before investing any money. To aid in this investigative process, we have compiled a list of questions you should ask. Remember, it’s not just about asking these questions; obtaining satisfactory answers is equally important. Here is the checklist:

Due diligence

1. Has your attorney carefully examined the franchise contract and thoroughly discussed it with you? Do both of you approve it without any reservations?

2. Does the franchise require you to engage in any illegal, borderline illegal, or questionable activities in your state, county, or city?

3. Does the franchise offer you an exclusive territory for the entire franchise term, or can the franchisor sell additional franchises in your territory?

4. Is the franchisor affiliated with any other franchise companies that handle similar products or services?

5. If the answer to the previous question is yes, what safeguards are in place to protect you from potential competition within your territory?

Exit ramps

6. Under what circumstances can you terminate the franchise contract, and what will be the associated costs?

7. If you decide to sell your franchise, will you be compensated for the goodwill or will it be lost?

8. How many years has the franchise company been in operation?

9. Does the company offering you the franchise have a reputation for honesty and fair dealing among its franchisees?

10. Has the franchisor provided certified figures indicating the exact net profits of one or more franchisees? Have you verified these figures with the franchisees personally?

11. Will the franchisor assist you with: a) Management training; b) Employee training; c) Public relations and advertising programs; d) Capital investment; e) Credit availability; f) Merchandising ideas?

Location, stability, training

12. If necessary, will the franchisor help you find a suitable location for your franchise?

13. Is the franchisor financially stable enough to execute its stated plans?

14. Does the franchisor possess competent, well-trained management?

15. What specific benefits or advantages does the franchisor bring that you cannot achieve on your own?

16. Has the franchisor conducted a thorough evaluation of your capabilities to ensure a mutually profitable operation?

17. Does your state have a law regulating the sale of franchises, and has the franchisor complied with this law to your satisfaction?

18. What amount of equity capital will you need to purchase the franchise and operate it until your income covers your expenses?

Promising success stats

If you are able to obtain satisfactory answers to each of these questions, then you are likely considering a promising franchise opportunity. However, if any doubts arise, make certain to conduct further research to gather accurate answers before making any investment or signing any agreements.

Buying a franchise can provide a sense of security and, in some cases, a guaranteed profit. Research shows that less than 20 percent of franchised businesses fail, in contrast to the 60 to 80 percent failure rate for new businesses started annually in the country.

You can find information on specific franchising ideas in franchise directories that are typically available at your local library. Additionally, franchise outlets may display notices relating to franchises for sale.

Oxygen. Money. Done! Any questions?

If you have the financial means to enter this venture, remember that statistics are in your favor. Armed with caution and a comprehensive checklist, you now possess a roadmap to guide you through the process of purchasing a franchise.

For all your Tax Tools & Financial Calculators, or to schedule an appointment to get your taxes prepared and e-filed, please visit Concierge Tax Pros, our highly recommended tax preparation office website.

Avoid failure

Millions of Americans who tried to make money online have failed in that pursuit due to a number of factors, ranging from lack of experience and/or Web marketing savvy to insufficient time devoted to the field of expertise they chose. If you are interested in taking part an online business opportunity, no matter what that opportunity may be, it is recommended that you know exactly what you are getting into before agreeing to invest your hard earned money in a venture with which you are unfamiliar or signing a contract which, by its very nature, is binding. Adhering to this tiny bit of advise may be helpful to you in protecting yourself.

If you are in search of an online business opportunity and come across a product, or multiple products to which the ownership rights to it – or to them – are being offered for sale, you may want to consider such an offer, but not before doing a little research of your own to determine the quality of such products. These products, mostly informational in nature, and the rights to them being offered for sale are known as private label rights (PLR) products, and the field of endeavor is known as private label rights. Such rights are offered on a number of different products pursuant to varying levels of limitation.

PLRR defined

These products are all Web-based and most commonly include e-books, software programs, or written content for blogs and websites. Private label resell rights are best described as those rights offered by product creators who often do not have the time, money, or experience needed to sell their own finished product; and since a product creator tends to lose money each day that his/her product does not sell, s/he needs assistance from more savvy Web marketers who may not have the same level of creative skill or knowledge to create his/her own product, and if you identify better with the latter you could could avail yourself of the opportunity to make money online via PLRR buy-sell transactions.

To get their product on the market and make money at the same time many product creators, such as e-book authors or software designers, sell the resell rights to their product. The asking price for these products will vary, but most resell right products do not cost more than a few hundred dollars. So if you are able to come up with this money you will not only be helping the product creator make money, but yourself as well will make money; and since you legally obtained the resell rights to the product(s) in question, you can start to profit from each sale that you make immediately depending on how good a marketer you are. Of course, like any other business venture, it is not always as easy as it sounds.

PLRR taboo

When it comes to purchasing the resell rights to a private label product, such as an e-book or software program, there are buyers who quite often make the one costly mistake that s/he is unlikely to correct with the same transaction. That mistake entails picking a product that does not sell due to poor quality, lack of demand or too many of that particular product type already over represented in the marketplace. To make money you cannot just select a random private label product, instead you must research the market and learn what customers want and need to buy. Doing so will allow you to obtain the resell rights to a product that is in high demand and therefore will sell, which in turn will result in you making money.

The best way to learn about products, topics, or issues that are currently popular on the Web is to use the Web. There is a great selection of books, audios and videos on the subject of private label resale rights at the PLR Treasury website, and the best part is that it is free. Also you will want to read the news on a daily basis and you may also want to actively participate in online discussions. You can easily do this by joining a number of different message boards in which many Web users post important questions and product requests. If you are able to find a product such as a specific software program or e-book that is being requested on a large scale, you may be able to use that product into an opportunity to make money on a profitable scale.

Research, research, research!

In addition to using the Web, you are also advised to always keep your eyes and ears open because you never know what or where you will learn something new. Reading the news and participating in online message board discussions are just a few of the many ways that you can go about researching the need (market demand) for a particular product. This research may be time consuming but it is, necessarily, the best thing you can do to protect yourself from a money-losing (money-draining?) investment which, not only result in a severe blow to your budget, but to your confidence as well and turn you completely off the Web marketing franchise.