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 »  Home  »  Small Business  »  Starting a Business  »  Follow the Path to Franchise Success
Follow the Path to Franchise Success
By Features Editor | Published  04/2/2008 | Starting a Business |
Features Editor
Peanut Butter, our Features Editor and Financial Wizard Wonder Dog selects exceptional articles from around the web to be featured on our website. 

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Follow the Path to Franchise Success

(NewsUSA) - Many people are motivated to go into business for themselves and often elect to start a franchise. This specific sector of small business is popular for a good reason. According to the U.S. Small Business Association, 30 percent of all independent businesses fail in their first year, compared to fewer than 1 percent of all franchises -; which makes for good odds. Clearly, the help and expertise of an already-established business makes all the difference.

Choosing to open a franchise can be a solid business decision if you know the proper avenues to pursue. The following tips will help guide you on the path to being a successful franchisee:

* Have a liberal estimate of your start-up costs. Many franchises can fail -; and have -; due to conservative estimates of start-up capital. Not planning ahead in the money department can end up shocking those who find that, in reality, it costs two or even three times more than originally expected to get their franchise off the ground. Putting as much money as possible aside for a franchise, far in advance, is a smart choice for those looking for quicker success.

* Stick with reputable companies for franchise opportunities. Companies that have a track record of building successful franchises, such as 1-800-Got-Junk?, may be your best option when trying to play your hand in the business. At 1-800-Got-Junk?, franchise partners receive extensive training and ongoing support at "The Junktion," the company's main office in Vancouver, British Columbia. Working with well-established corporations will give you more options and an established plan for seeing your vision through to success. So, what can you do to attract the attention of a reputable franchise? Leaders with a track record of making and attaining goals, tenacity, a strong desire to grow and learn, proper Capitalization and values aligned with the organization are the ideal franchise candidates. For more information on franchise opportunities with 1-800-Got-Junk?, visit www.1800gotjunk.com.

* Do your research. You will have many choices when deciding which franchisor fits with your interests and available funding. When looking at various companies, talk to current franchisees to get their personal feedback on a company before deciding if it's a suitable one for you.

* Be passionate about your job. Extensive research will only take you so far if you don't absolutely love what the franchise stands for and how it operates. Evaluate all aspects of becoming a franchisee with a particular company before you sign on the dotted line.

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