Location, location, location?that old real estate clich? is just as appropriate when it comes to a business franchise. You may have fallen in love with a certain business?maybe while you were on vacation?and are now wondering how it will do in your hometown. Don't leave this to chance; the right location can make all the difference in the success or failure of your franchise. Make sure your location is right for your business by knowing the following factors.
Population in your area. Every business needs a certain level of population density to support itself. That Starbucks on the trendy corner in Seattle might do well because it's in a location with over 100,000 people walking by every day. That doesn't mean it'll do as well on a quieter corner in your small town of a few thousand people. Before buying into a food franchise opportunity, get in touch with a few owners in other areas. Find out what their surrounding population is, just to get a sense of what kind of population you'll need to support your business.
Economic levels. Does your population have the income level to make your franchise choice appropriate? Different franchises appeal to different income levels, and turn others off. Do your research?check out the prices of your favorite franchises before buying in. Does the pricing seem on the high end, or are they going for a discount market? How will that appeal to shoppers in your town?
Demographics. Know the appropriate demographics of the people in your area as well. Is your business franchise opportunity typically more appealing to a certain race, age, or sex? If you don't know, talk to representatives of the company's franchise department, or simply walk into one of this business's locations and look at the people inside. Is this demographic plentiful in your hometown? If so, you may have found a good fit. If not, chances are slim that your franchise will do well.
Competition. You might love this franchise, but if there's one on every corner back home, don't expect an easy time with this business. Some parent companies will grant you a territory when you buy into their business?meaning that they won't set up another franchise within your area. Others don't; some even encourage competition between franchise owners. Make sure your market isn't over-saturated before you buy into a franchise.
Appropriate setting. Does your business rely on a great deal of walk-in or drive-through traffic, or is it more the type of place where you make reservations and appointments? If your business relies on impulse-buyers, it needs to be in a place where it is easily accessible to walk-in or drive-in traffic. Make sure your hometown has a location that puts you in front of a stream of steady visitors.
Where you put your franchise business can be crucial to its success. Make sure you have the right location in mind?and that the franchise is a good fit for your town. Put some work and time into finding the right fit, and it will pay off in the end.
Take A Good Look At My Face
Still I need to understand what you mean by “lost."
Lost is a rather relative word. Actually, is anything really lost? I mean, everything is somewhere, even though temporarily it may be misplaced.
I like the word “misplaced," rather than the word “lost." The word “lost" has an aura of finality about it. Being the kind of person I am, I hate to resort to using the word “lost."
Recently, I took a few days off to work on a special project. Right after I settled down in my motel and set up a temporary office, I had a call from a friend. He found out I was staying in the town and invited me to a free banquet on Thursday night.
One of the things I like about any “free banquet" is the idea of free. Those are the only banquets I can afford. And if they do not serve broccoli, I’m in heaven.
My friend invited me to sit at his table and enjoy the program with him and his wife. I prepared for a delightful evening of fellowship and banter. Then I asked him where the banquet was being held.
As it turned out it was only a few miles from where I was staying. Since I had my computer with me, I asked him to e-mail me the directions. Oh, what did we do before computers?
In a few moments, I had the directions to the “free banquet." I love it when a plan comes together.
Thursday night came around and I dressed for the occasion, anticipating a nice break from the work I had been doing. You know what they say about all work and no play. I had worked all week and now it was time to play with a very lovely rib eye steak.
I assumed I could find the place and be there in good time. I did find a place but I found it to be a much larger place than I had assumed.
Not having a printer along with me, I did not print out the directions nor did I have any presence of mind to jot down the directions on a 3 by 5 card. I chose rather to trust my old noodle, which very quickly became soup. If I only could remember the name of the hotel where the banquet was being hosted I would have been fine.
However, much to my consternation, there were at least half a dozen hotels for me to pick from. Silly me, I was prepared for one hotel.
To make matters worse it started to rain, which diminished my ability to see. By this time my ability to think had long ago diminished. I drove around for a while and the more I drove the more lost I became.
Excuse me, I was not lost – I was simply misplaced at the time.
In my state of misplaced-ness, I saw a large flashing sign. I had no idea what it was but it looked like there were people inside and I figured I could get some directions or a least information from someone. I parked the car, dodged the rain and made it to the door.
When I got inside it took a few moments for my eyes to adjust to the darkness. Then I had the shock of my life.
When my eyes adjusted, I thought I had crashed a pajama party. Not having my own pajamas, I felt a little bit out of place. I assumed it was a pajama party because all the women were walking around in what looked like their underwear.
It suddenly dawned on me that I had walked into some kind of a bar. The only “bars" I am acquainted with are the kind Daniel Boone used to kill. The bar I was in was certainly not my cup of tea.
Undaunted and desperately wanting to get to my free banquet I walked over to the bar and placed my Bible on it. I believe if I am going to live by the Good Book, I should also live with the Good Book. I never leave home without it.
As soon as I laid my Bible on the bar the room seem mysteriously to get quiet and I felt every eye in the place focused in my direction. The young woman behind the bar, dressed in her frilly underwear, stared at my Bible as though it was a curled snake ready to strike. I noticed she was trembling.
“Can ... can... I ... help you," she whispered breathlessly.
Realizing what was happening I took advantage of the situation and casually opened my Bible and slowly turned some pages. The reaction was worth all the aggravation I had experienced up to this point.
She took three or four steps backward and with her arms tried to cover herself. Actually, it was too little too late because I had already seen her underwear.
Amazingly, one look at the Good Book caused her to be uncomfortable. When I thought of her, I thought of a verse in the Good Book. “Thy word is a lamp unto my feet, and a light unto my path." (Psalms 119:105 KJV.)
For me, one good look at the Good Book gives me a good feeling.
Both Franchisefetch & James L. Snyder Snyder are contributors for EditorialToday. The above articles have been edited for relevancy and timeliness. All write-ups, reviews, tips and guides published by EditorialToday.com and its partners or affiliates are for informational purposes only. They should not be used for any legal or any other type of advice. We do not endorse any author, contributor, writer or article posted by our team.
Franchisefetch has sinced written about articles on various topics from Franchise, Small Business. links the public with a multitude of pre-established, successful, money-making franchises. Visit our website to easily choose a franchise based on name. Franchisefetch's top article generates over 1600 views. to your Favourites.
James L. Snyder Snyder has sinced written about articles on various topics from Exotic Pets List, Arts and Franchise. James L. Snyder is an award winning author and popular columnist living with his wife, Martha, in Ocala, Florida and can be contacted at .. James L. Snyder Snyder's top article generates over 1600 views. to your Favourites.
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