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Franchise North Carolina

Buying a franchise in North Carolina is a way to own your own business without having to start from the ground up and without having to assume all of the risk yourself. There are hundreds of franchise opportunities available today, with various costs and details, and this site will provide valuable information about the basics of franchises.

1. Local Companies

2. Franchise - Info

3. Kinds of Franchises

4. Cost

5. Featured Local Company

1. Local Companies

Freirich Foods Company
(704) 636-2621
815 W. Kerr St.
Salisbury, NC

Omega Enterprises
(910) 497-8830
208 S Main St
Spring Lake, NC

The Entrepreneur's Source At Nickles
(704) 399-2285
4428 Serene Ln
Charlotte, NC

Franchise Resource Group Ltd
(704) 522-9394
4525 Hedgemore Dr
Charlotte, NC

North Carolina Retail Merchant Self Insured
(919) 847-6331
Raleigh, NC

County South Associates Incorporated
(704) 814-9435
Matthews, NC

Rhino Consulting
(919) 363-8073
315 S Salem St
Apex, NC

Kushell Assoc Consultants
(919) 542-3500
235 Greystone
Pittsboro, NC

Li'l Dino Corporation
(336) 297-4440
5601 Roanne Way Ste 100
Greensboro, NC

2. Franchise - Info

Buying a franchise is one way to own your own business without having to start from the ground up and without having to assume all of the risk yourself. You choose an industry, whether it is a restaurant, retail store, service establishment or a hotel and then you look for a business within that industry that interests you and is successful. You become the franchisee by paying the franchisor, who is the owner of the company, an upfront fee to use the company name and sell the goods and/or services that company offers.

There’s a lot more to it than that of course and it is that “more to it” part that this article will explore. What kinds of franchises are there? What do they cost? What are the advantages and disadvantages? Will this really be my own business or will I be giving up total control by buying into a franchise? These are just some of the questions anyone considering buying a franchise should ask.

The initial up-front investment when buying a franchise differs widely. You can buy some franchises for as little as $20,000 while others go for hundreds of thousands of dollars and that is just the initial investment! You still have to buy or rent the building, pay the employees and purchase inventory. You’ll also be required to pay the franchisor royalties on a continuous basis based on the revenue your franchise generates. There may also be advertising fees that you are obligated to pay the franchisor and depending on the industry, you may have to purchase equipment. Finally, you will find that establishing a franchise will require a tremendous investment in both time and patience.

3. Kinds of Franchises

Whether you’re set on buying a franchise or just beginning the investigative process, you’ll be glad to know there are many different kinds of franchises thereby increasing your chances of purchasing one in an industry that suits you. Probably the most popular type of franchise everyone is familiar with is the restaurant franchise, both fast-food and upscale. For most people it doesn’t take any specialized knowledge to run a restaurant; however, there’s plenty to learn about the restaurant business.

Hotels are another common franchise and the retail industry is brimming with franchises. For a more scaled down operation there are franchises that pack and mail packages. Then there are plenty of franchises that do require specialized knowledge whether that is going to be coming from you, the franchisee or from the employees you hire. For example, the automotive industry has franchises in certain service areas. Tax preparation is another popular franchise operation.

Now that’s another area to consider. Not so much tax preparation but seasonal businesses. You’ll want to consider whether or not to take a chance on a business whose revenue jumps and dives according to the seasons. For example, if you were to purchase an ice cream business, think of the geographical area in which you live. Although based in part on the seasons, this business is also going to be more or less successful based on geography.

Once you decide to buy a franchise, while it’s important to choose an industry that interests you, it’s also important to consider your surroundings and what types of franchises will do best in your area. You must also consider how many of a particular type of franchise are already operating in your area and whether or not the market is saturated. Ultimately, you will find that there is little limitation in terms of the different kinds of franchises to choose from and you will also find little difficulty finding a franchise that interests you.

4. Cost

There’s not an “average” price for franchises. It stands to reason that the older, well established franchises that are making a handsome profit are going to charge more upfront fees than a relatively new one-man operation will. Knowing this, the price for the franchises you research will fall into the range of a few thousand to a few hundred thousand dollars. This will probably be your largest expense but by no means the only one. The initial franchise fee basically just gives you the right to use the franchisor’s business name and to operate as that business does. Most franchisors include training and other assistance in that initial fee as well.

You will most likely have to pay royalties to the franchisor based on the gross revenue your business generates. This can be scary and this is where you really want to make sure that you have done your homework as far as the income potential is concerned. Unless you’re constructing a new building, chances are another franchisee once owned that same business. Have you talked with him or her? Why did this person leave the business and what kind of profits did they see while they were in business?

When you pay royalties off of gross receipts, you pay them whether or not you are making any money. You could be losing your shirt and still have to pay the franchisor the royalties. Then again, you could be rolling in dough and be happy to pay the royalties. That’s why it is so important though to research before you buy a franchise. There are a lot of things you need to know before you sign on the dotted line. It would be extremely helpful if you speak with owners of established franchises. Ask for recommendations, ask how well the business is doing and if the franchise is a worthwhile investment.

You’ll also want to find out how much if any you’ll have to contribute toward advertising costs. Many franchises have an advertising fund that all the franchisees contribute to regularly.

You’ll also need to research how much the physical place of business is going to cost to rent or buy. Will you have employees? How much will payroll cost?

Finding out the cost of any particular franchise is a large part of the research you’ll want to conduct before you make a commitment. It is not something however, that you can find out everything about over lunch. It is a process, one which you’ll be happy you took the time to complete once everything is in order.

5. Featured Local Company

Freirich Foods Company

(704) 636-2621
815 W. Kerr St.
Salisbury, NC
http://www.freirich.com

Read more about Franchise

- Franchise Financing Programs North Carolina

If you are looking to open a franchise, but are not sure that you can afford the franchise fees, you may want to look into a franchise financing program. Although the Small Business Administration offers loans for small business start-up expenses, it is easier to get a loan for a franchise through a franchise financing program. These programs are set up specifically to help pay for the franchise fees, leases, and other start-up expenses.

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Franchise North Carolina

1. Local Companies

2. Franchise - Info

3. Kinds of Franchises

4. Cost

5. Featured Local Company