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Business Opportunity or Franchising? Michigan

There are two effective ways to become a business owner without reinventing the wheel and starting your own business from scratch: buying a business opportunity and being awarded a franchise business. Each has advantages and disadvantages so knowing how each works and how you would fit their model is important before you begin your search for a particular business.
1. Local Companies
2. Business Opportunity
3. Franchise
4. Government Protection
5. Featured Local Company

1. Local Companies

Bid on Business
616-862-5114
2588 Rememberance Drive
Walker, MI
re:group
734.327.6630
213 W. Liberty
Ann Arbor, MI
AEROTEK
(248) 972-0350
2001 CENTERPOINT PARKWAY
PONTIAC, MI
Fit Zone For Women
269-226-9564
4341 South Westnedge Avenue, Suite #1103
Kalamazoo, MI
Our Digital Voice VoIP
1-800-281-4966
311 North St
Lowell, MI
Independent Organization of Little Ceasar's Franchisees
(248) 641-9400
5455 Corporate Dr
Troy, MI
Franchise First Step
(313) 884-0667
1053 Whittier Rd
Grosse Pointe Park, MI
Auto Lab Franchise Management Corporation
(734) 354-0492
705 S Main St
Plymouth, MI
Hospitality Lodging Network
(989) 732-0805
803 S Otsego Ave
Gaylord, MI
Sarles Curt
(989) 892-7990
916 Washington Ave
Bay City, MI


2. Business Opportunity

With a business opportunity, you buy and own a business outright and operate it under a name you choose. The seller makes his money by delivering the business system, training, equipment, or service method to the buyer. In some cases, the seller may also make residual income for the ongoing sale of products or services, but for the most part, the relationship is over once the purchase is final.

3. Franchise

A franchise opportunity is a relationship between a seller and a buyer that continues for the duration of the buyer's involvement in the business. A franchise differs from a business opportunity in two important ways.

First, a franchisor generally collects a franchisee fee up front from the buyer and also collects on-going royalties. What the buyer gets for these fees are access to a brand, a proven business model, comprehensive training and ongoing support.

The second difference is that in a franchise, the franchisor will require the franchisee to adhere to strict guidelines in the operation of the business. This is done because it is the franchisor's name on the business. The brand must be protected for the benefit of all franchisees in the system and the service or product provided must be consistent from store to store and state to state.

4. Government Protection

The Federal Trade Commission (FTC) regulates franchising at the federal level. In order for a business to be labeled a franchise, three elements must be in place:

1. Franchisor allows the buyer to use the franchisor's trademarks.
2. Franchisor collects a fee (of at least $500) from the buyer within the first six
months of operation.
3. Franchisor exercises "significant control" over the buyer's operation on an
ongoing basis.

The most critical FTC guideline requires franchisors to provide buyers proper disclosure information prior to finalizing the sale. This document is called a Uniform Franchise Offering Circular (UFOC) and will assist a buyer in completing the due diligence (the process of investigation into the details of a potential investment and the verification of material facts) before purchasing the franchise. In many cases, individual states have additional guidelines a franchisor must meet to sell franchises in that state.

The UFOC is of enormous value to a prospective franchisee and is the best way to differentiate the good franchisors from the bad. Franchisors must disclose any litigation they have faced, list all franchisees in the system and address turnover, terminations, etc. Although not required, the UFOC can also list the earnings potential for a franchise.

5. Featured Local Company

Our Digital Voice VoIP

1-800-281-4966
311 North St
Lowell, MI
OurDigitalVoice

OurDigitalVoice™ is a premium marketing affiliate of Infinet Communications Group Inc., a privately held Internet and telecommunications provider with over 8 years of experience. The Infinet group offers a wide array of Internet and communications services including high speed internet access, web hosting, server management and domain registration. With the launch of OurDigitalVoice™, Infinet has evolved into a full service telecommunications provider.

OurDigitalVoice™ is a leading edge technology that will change way we communicate forever. It allows high speed Internet users to transform their broadband Internet connection into a phone line. With OurDigitalVoice™, customers typically save 36-66% over traditional phone service. In addition, they will also be able to move their phone service anytime and use it from anywhere in the world. It works just like any regular phone line and you can even keep your existing phone number.

Cheaper. More convenient. Portable anywhere, anytime. It is no wonder why many experts believe that this is the way of the future. Traditional phone technology will be obsolete soon.

Read more about Business Opportunity or Franchising?

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