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What companies would you list as the best franchise investments, given that you were interested in investing in a franchise?
What factors would you base your investment decision on?
Some things I would think about are:
Does the franchise offer training resources for management, job function and supplies?
Does the franchise give you some leverage of product customization based on the desired location and target audience of the business?
Does the franchise send a message/image that you like?
How often would you have to work?
Industry trend (can you see this business having a competitive edge in the next 5-10 years or is it a fad?)
What are the start-up costs?
I am sure I am leaving out other important factors to consider but I think these are key ones to bring up.
I've been thinking about this for awhile, but am still contemplating on whether or not I'll eventually make an investment in a franchise vs. my own business idea.
One franchise idea that's caught my attention for some time: owning a Tapioca Express. These tend to do quite well in the right areas because they basically become and are seen as social spots offering a variety of interesting, fun and unique drinks that people like to experience and experiment with. A lot of people are fascinated by boba drinks and the interest is still going strong. But again, some areas are better than others in terms of the positive response the business would get.
However, I do wonder about the competitive edge of this business in the next 5-10 years. Are these drinks a fad? or will the attraction to them continue to grow?
I've noticed a bunch of chains and business now offering boba drinks in order to compete, and that does offer some competition, however for places that specialize in offering a huge assortment of boba drinks such as TE, they might still have an advantage compared to the place that only offers 2-3 boba drinks in addition to their regular supplies.
Any thoughts?
Anyone else contemplating franchise ownership or currently owns a franchise and found success?
What companies would you list as the best franchise investments, given that you were interested in investing in a franchise?
What factors would you base your investment decision on?
Some things I would think about are:
Does the franchise offer training resources for management, job function and supplies?
Does the franchise give you some leverage of product customization based on the desired location and target audience of the business?
Does the franchise send a message/image that you like?
How often would you have to work?
Industry trend (can you see this business having a competitive edge in the next 5-10 years or is it a fad?)
What are the start-up costs?
I am sure I am leaving out other important factors to consider but I think these are key ones to bring up.
I've been thinking about this for awhile, but am still contemplating on whether or not I'll eventually make an investment in a franchise vs. my own business idea.
One franchise idea that's caught my attention for some time: owning a Tapioca Express. These tend to do quite well in the right areas because they basically become and are seen as social spots offering a variety of interesting, fun and unique drinks that people like to experience and experiment with. A lot of people are fascinated by boba drinks and the interest is still going strong. But again, some areas are better than others in terms of the positive response the business would get.
However, I do wonder about the competitive edge of this business in the next 5-10 years. Are these drinks a fad? or will the attraction to them continue to grow?
I've noticed a bunch of chains and business now offering boba drinks in order to compete, and that does offer some competition, however for places that specialize in offering a huge assortment of boba drinks such as TE, they might still have an advantage compared to the place that only offers 2-3 boba drinks in addition to their regular supplies.
Any thoughts?
Anyone else contemplating franchise ownership or currently owns a franchise and found success?
Tapioca drinks may be a fad. Too much sugar in them for me.
What about something new, like a health food drive through? You know, wheat grass and a veggie burger for those on the go...
Wingzone, they make great wings, and are small company, but the thing with restaurants is that they are dependant on LOCATION, LOCATION, LOCATION
Their wings are big, juicy, and many tasty flavors. If you pick a good place like in a college town, or near highway in the suburbs with lots of kids, you should do fine.
They will train you, I believe. Their website is Wing Zone
Wingzone, they make great wings, and are small company, but the thing with restaurants is that they are dependant on LOCATION, LOCATION, LOCATION
Their wings are big, juicy, and many tasty flavors. If you pick a good place like in a college town, or near highway in the suburbs with lots of kids, you should do fine.
They will train you, I believe. Their website is Wing Zone
Oh, stop... you are making me hungry !!!!
When I lived in Amhert, MA, my two lady friends would always meet me at the Hanger (a sports bar near UMass) and we would order a plate of about 60 wings, all different flavors. It was wonderful with beer !!!! Now I want to go back !!!
Too often a franchise is just an opportunity to buy a job... and that is in a good case where you are opening an outlet that has market demand.
Look very carefull at what you pay and what you get... there is little reason to invest both your capital and time into something that is a big risk with limited chance of return.
amen to your answer. Most of the time it's it a job and very little return for your pocket.
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