Franchises – Proven to Work
Prominence can be brought about by association with a well-known brand name. And this is what franchising offers – the chance to operate with the kudos of an established name behind you can reap very significant rewards if you are an owner of a franchise. The franchisee need not invest any needless effort worrying about publicity or advertising campaigns – their potential customers will very likely already know about the company’s existence. This is a really positive thing as people have a proclivity to form and keep doing business with names they know and products or services they are already comfortable with.
Tapping into an already established market and benefiting from verifiably effective methods alongside a reputable business name means that franchise holders are able to begin trading healthily on their very first day of being in business.
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INVESTING WISELY
We’re warned not to put all our eggs into one basket! But in today’s rather nerve-wracking times of financial uncertainty this adage, while slightly worn out and clichéd, couldn’t seem more fitting. After all, we’d be rash indeed to take too many risks in such chaotic times, wouldn’t we? Yes. However…
In a downturn we need to invest astutely. The basket we put our eggs into needs to be a strong, well made one. With no holes in it. More importantly, we need to make sure that basket is carried by someone who won’t drop it. In other words, whilst we’re looking at the old egg-basket figure of speech, - franchise works this way:
· The eggs are your investment – or money.
· The basket you put your eggs into represents the franchise company’s products or services. – And you know the basket to be up to holding your eggs safe because it has a track record of doing so.
· The one holding the basket is the company itself. Remember, the company hasn’t dropped anyone’s baskets so far, so you should feel confident.
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ARE ALL FRANCHISES PREDICTED TO WORK?
But are all franchises made equal? Unfortunately no, but the good news is that although not all franchises work (as with anything there are always exceptions to the rule) there is a greater guarantee of triumph with a franchise, than most start from scratch independent businesses.
Wise decision-making about your new career is imperative in a recession. Even if it seems to you it may at first prudent to opt for a franchise with a well-known fast food outlet or famous retail brand for luxury goods, it really pays to ask yourself:
1. Will people be disposed to spend more money on take-out dinners when they’re obliged to budget in a recession, or less?
2. Will they be spending on luxury goods or, like many others in the same situation, trying to spend less?
It will always be the little extras that get sacrificed first when people are cutting down. Ready cooked fast food and luxury items are things that can be dispensed with. Despite their standing as well-established companies in the above industries such organisations will expect to see a momentous drop in sales as recession takes hold. Not exactly good news for new franchise holders.
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What sort of franchises and business ventures are forecast to thrive in a depression?
Looking at the situation logically, a boost in online business is foreseen. As the Internet keeps on growing and is recognised as the first source of information many of us turn to, this stands to reason. But the success of business activities online depend very much on powerful endorsement. This is where the skills of a company like WSI are best put into practice. WSI’s many certified consultants have been helping small and medium sized businesses make their endeavours viable online for over a decade. And with the speedy growth in the number of businesses that are looking to enhance their online productivity, the amount of prospective customers looking for this sort of service expected to increase dramatically. In comparison to luxury goods and products, indispensable services like those provided by WSI consultants look set to be even more in demand than ever. And that’s what makes consultancy franchises with WSI the ideal kind of franchises to consider now. Franchises work, think eggs, baskets, and you’ll know why.
About the Author:
Elizabeth Miranda
VP of Franchise Development for
WSI" target="_blank">www.wsicorporate.com">WSI Corporate
and
" target="_blank">www.ExpertiseOnline.com"> "Founder of ExpertsOnline"
Article Source: ArticlesBase.com - Franchises – Proven to Work