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Friday, December 08, 2006

Benefits of a Franchise Versus a Solo Operation

Startup Journal bring us this new two-part series about "Benefits of a Franchise Versus a Solo Operation," which looks at pros and cons.

I'd like to offer a few more facts about franchise operations:

  • There are an estimated 1,500 different franchisors (franchise companies) operating in the U.S.
  • USA Today reported, "The 750,000 franchised businesses in the US generate almost $1 Trillion each year.”
  • The franchising industry employs over 8 million people in the U.S.
  • A new franchise business opens every 8 minutes of every business day
  • Approximately one out of every 12 businesses in the U.S. is a franchise business
  • More than 75 different industries use franchising as a means to distribute goods and services
  • The average initial franchise investment is $250,000- excluding real estate.
  • A recent Gallup poll of franchisees found that over 75% would buy their franchise again if they had to do it over.
BOTTOMLINE: "We can learn much about achieve lasting excellence -- not only for our customers, but for ourselves, by taking a lesson from franchises. First, there's a clear promise to the customer that's reflected in the brand. Second, there a promise to the business owner (franchisee) of a well-considered and proven business model that delivers on the customer promise. The point is that all businesses would benefit from taking a holistic approach to excellence that successful franchises take." (From pages 20 - 21, Six Disciplines for Excellence).

Looking for a franchise opportunity with a lasting difference? Six Disciplines Leadership Centers were recently named by Entrepreneur Magazine as one of the Top 99 Franchise 'Top Guns' - and included as one of the top 10 in the Business Services franchise category.

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