Tag: businesses

An Extensive Checklist for Franchise Buyers

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.

Sell Your Private Label Products Via Classified Ads

Opportunity

The internet is filled with millions of business opportunities. Many of these opportunities are legitimate, but others are not. One of the opportunities that you may find online involves buying private label rights to certain products, selling the modified products and keeping all the profits. Unfortunately there are too many people who mistakenly believe that this business opportunity is a scam; but the reality is quite the opposite. The buying and selling of private label rights products is a real, legitimate way to make money.

If you are interested in purchasing the resell rights to a private label product, you will first have to find a product to purchase, and there are a number of different products available. However, many of them are either for e-books or software programs; but once you have found the type of product that you would be interested in obtaining the resell rights to, you will then have to narrow down your search to a specific product, its owner/publisher and the terms pursuant to which the purchase could be made. For instance, if you are interested in purchasing the resell rights to an e-book, you will have to find an individual who has his/her e-book resell rights available for sale.

Minimal cost

Once you have found and fully examined a product offer, you can then proceed to purchase the resell rights. Keep in mind that the amount of money you could expect to pay – prices usually run in the range of $100.00 to $200.00 or so – will depend on the person who is selling the rights to that product. This may seem like a fairly large investment, but when compared to what many other business opportunities will cost, it is really not.

It is also important to point out here that you can easily recuperate your investment in a Resell Rights business if you promote and market your product effectively. This is because once you have obtained the resell rights to a product, it is yours to alter and to sell in any manner you deem most effective. You can get some great free tips on private label products at PLR treasures where you can download a number of ebooks and other content types free of charge.

Get started now… Free!

When it comes to selling a product in which the resell rights were legally obtained, some aspiring product sellers do not know where to start; but there are a number of different ways a new product owner can go about selling his/her newly obtained product, whether s/he created that product or not. One of those ways involves the use of classified ads, and if you are interested in using this method, you will want to learn how to make the most out of classified ads by visiting and learning more about websites like AdLandPro.com and other similar sites.

Reselling

Traditionally, when we thought about classified ads, the local newspaper often came to mind, and may still be a great way to market and sell a product, even though such media may not be as effective with software programs or e-books, because these types of products are most commonly marketed to internet users. So the best medium in which to promote your Web-based product is via the many Web-based classified ads sites.

With online classifieds you will find that most are free to use, which is another reason why online classifieds are a great way to market your private label product. Unlike many other advertising methods, they do not require any additional expenses. If you are interested in finding more free classified websites, you can simple do a standard internet search which should produce a number of results with links to online classified websites.

Maximum potential

Your first impulse may be to place as many free advertisements as you can, but you may want to rethink that thought and take the time to research the market that offers maximum potential, thereby saving yourself a lot of time. For instance, many online classified websites only allow you to post local ads, which means that you must select a specific city for your advertisement to run. When doing so you will want to pick cities that are not close to each other since many residents not only search their local ads, but others as well. This will prevent your ad from appearing as if it is spam.

As previously stated, you will find that a number of online classified websites are free to use, but not all are. In your search it is likely that you will come across classified websites that want you to pay them for running your advertisements. It is your decision as to whether or not you want to incur that expense, but it is important to remember that you can do the same thing elsewhere, free of charge. Buying and reselling private label rights products is an amazing opportunity, but you need to know how to make that opportunity work for you. By keeping the above points in mind, you should be able to make money by selling a product that you didn’t even create.