{"id":31288,"date":"2019-10-07T13:06:05","date_gmt":"2019-10-07T17:06:05","guid":{"rendered":"https:\/\/www.thefranchiseking.com\/?p=31288"},"modified":"2024-03-23T12:18:53","modified_gmt":"2024-03-23T16:18:53","slug":"franchising-good","status":"publish","type":"post","link":"https:\/\/www.thefranchiseking.com\/franchising-good","title":{"rendered":"Why Is Franchising Good?"},"content":{"rendered":"\n<figure class=\"wp-block-image\"><img loading=\"lazy\" decoding=\"async\" width=\"620\" height=\"414\" src=\"https:\/\/www.thefranchiseking.com\/wp-content\/uploads\/this-is-good-620x414.jpg\" alt=\"why is franchising so good\" class=\"wp-image-31329\" srcset=\"https:\/\/www.thefranchiseking.com\/wp-content\/uploads\/this-is-good-620x414.jpg 620w, https:\/\/www.thefranchiseking.com\/wp-content\/uploads\/this-is-good-320x213.jpg 320w, https:\/\/www.thefranchiseking.com\/wp-content\/uploads\/this-is-good-768x512.jpg 768w, https:\/\/www.thefranchiseking.com\/wp-content\/uploads\/this-is-good-600x400.jpg 600w, https:\/\/www.thefranchiseking.com\/wp-content\/uploads\/this-is-good.jpg 1000w\" sizes=\"auto, (max-width: 620px) 100vw, 620px\" \/><\/figure>\n\n\n<p>I have a question for you.<\/p>\n<p><b>Why is franchising good?<\/b><\/p>\n\n\n<p><\/p><p><\/p><p><\/p><p><\/p><p><\/p><p>There are lots of reasons why franchises are good. Why<a href=\"https:\/\/www.thefranchiseking.com\/auntie-annes-the-worlds-largest-soft-pretzel-franchise\"> franchising has it&#8217;s advantages<\/a>.<\/p>  <p>I encourage you to follow along as I show you why franchising <em>is<\/em> so good.<\/p>\n\n\n<p>&nbsp;<\/p>\n<h2>Why Is Franchising Good?<\/h2>\n\n\n<p>One reason <a href=\"https:\/\/www.thefranchiseking.com\/owning-a-franchise-happy\" target=\"_blank\" rel=\"noopener\">franchising is so good<\/a>, is because it&#8217;s enabled hundreds of thousands of people to become small business owners.<\/p>\n\n\n\n<p>Take <strong>Subway<\/strong>\u00ae for example. Do you have any idea how many <a href=\"https:\/\/www.thefranchiseking.com\/how-to-buy-a-subway-franchise\">Subway franchise<\/a> owners there are across the world?     <\/p>\n\n\n\n<p>So why does franchising work so darn well?<\/p>\n\n\n\n<p>What is it about franchising that makes it one of the best and most talked-about business types?<\/p>\n\n\n\n<p>I&#8217;ll show you. <\/p>\n\n\n<p>&nbsp;<\/p>\n\n\n<h2 class=\"wp-block-heading\" id=\"h-franchising-the-what\">Franchising: The What<\/h2>\n\n\n\n<p>A serious discussion of franchising needs to start at the &#8220;<em>what<\/em>.&#8221; <\/p>\n\n\n\n<p>As in, what <em>is<\/em> franchising? <\/p>\n\n\n\n<p><em>Franchising typically involves the granting by one party (the franchisor) to another party (the franchisee) the right to carry on a particular name or trade mark, according to an identified system. Franchises are usually located within a territory or at one specific location, for an agreed upon term. The franchisee is granted a franchise license to use the franchise company\u2019s trademarks, systems, signage, software, and other proprietary tools and systems in accordance with the guidelines set forth in the franchise contract<\/em>. Note: <a href=\"https:\/\/www.thefranchiseking.com\/definition-of-a-franchise\">My translation of that paragraph can be found here<\/a>.  <\/p>\n\n\n<p>&nbsp;<\/p>\n\n\n<h2 class=\"wp-block-heading\" id=\"h-franchising-history\">Franchising History<\/h2>\n\n\n\n<p>Next, it\u2019s important to know how (<em>and where<\/em>) the <a href=\"https:\/\/www.thefranchiseking.com\/2020-franchise-trends\" target=\"_blank\" rel=\"noopener noreferrer\">franchise business<\/a>\nbegan. <\/p>\n\n\n\n<p>But why? Why should you read about the history of franchising?\n&nbsp;<\/p>\n\n\n\n<p>\u201c<em>The answer is because we virtually must, to gain access to\nthe laboratory of human experience. When we study it reasonably well, and so\nacquire some usable habits of mind, as well as some basic data about the forces\nthat affect our own lives, we emerge with relevant skills and an enhanced\ncapacity for informed citizenship, critical thinking, and simple awareness<\/em>.\u201d\n<\/p>\n\n\n\n<p>&#8211; &nbsp;Peter N. Stearns, <a rel=\"noreferrer noopener\" aria-label=\"Historians.org (opens in a new tab)\" href=\"https:\/\/www.historians.org\/about-aha-and-membership\/aha-history-and-archives\/historical-archives\/why-study-history-(1998)\" target=\"_blank\">Historians.org<\/a><\/p>\n\n\n\n<p>Please read \u201c<em><a rel=\"noreferrer noopener\" aria-label=\"A History of Franchising as We Know It (opens in a new tab)\" href=\"https:\/\/articles.bplans.com\/the-history-of-franchising-as-we-know-it\/\" target=\"_blank\">A History of Franchising as We Know It<\/a><\/em>,\u201d so you\u2019ll have an appreciation of the business. <\/p>\n\n\n<p>&nbsp;<\/p>\n\n\n<h2 class=\"wp-block-heading\" id=\"h-popularity-of-franchising-by-city\">Popularity Of Franchising By City<\/h2>\n\n\n<p>Look at these important statistics, courtesy of Lending Tree.<\/p>\n<div class=\"infogram-embed\" data-id=\"_\/bYHh3nEBqcDuXdvoNZkm\" data-type=\"interactive\" data-title=\"Franchise - Table 1\"><\/div>\n<p><script>!function(e,i,n,s){var t=\"InfogramEmbeds\",d=e.getElementsByTagName(\"script\")[0];if(window[t]&&window[t].initialized)window[t].process&&window[t].process();else if(!e.getElementById(n)){var o=e.createElement(\"script\");o.async=1,o.id=n,o.src=\"https:\/\/e.infogram.com\/js\/dist\/embed-loader-min.js\",d.parentNode.insertBefore(o,d)}}(document,0,\"infogram-async\");<\/script><\/p>\n<p>&nbsp;<\/p>\n\n\n<h2 class=\"wp-block-heading\" id=\"h-the-system\">The System<\/h2>\n\n\n\n<p>In the franchising world, it&#8217;s all about the system. <\/p>\n\n\n\n<p>That&#8217;s because you can offer the best product or <a href=\"https:\/\/www.thefranchiseking.com\/own-a-plumbing-franchise\">service<\/a> in the world, but if you don&#8217;t have a powerful, efficient business system to get it in the hands of consumers and businesses, you won&#8217;t have a business. You<em> will <\/em>have debt, though. <\/p>\n\n\n\n<p>In short, if you&#8217;re the founder&#8230;the creator of the product or service, you&#8217;re the one who&#8217;s going to have to create the system. But how?<\/p>\n\n\n\n<p>Trial and error is how. <\/p>\n\n\n\n<p>And once you&#8217;ve come up with the &#8220;<em>system<\/em>,&#8221; you&#8217;ll have to duplicate it. Like Louie did. And you&#8217;ll have to hire a <a href=\"https:\/\/www.thefranchiseking.com\/would-you-buy-a-franchise-from-donald-trump\" target=\"_blank\" rel=\"noopener noreferrer\">franchise salesman<\/a> or saleswoman to sell your franchise concept to would-be franchisees.<\/p>\n\n\n\n<p><\/p>\n\n\n\nFYI: Small business expert and radio host, Jim Blasingame, calls franchising, <a href=\"https:\/\/www.smallbusinessadvocate.com\/small-business-interviews\/joel-libava-33214\" target=\"_blank\" rel=\"noopener noreferrer\">&#8220;<em>America&#8217;s gift to the world<\/em>.&#8221;<\/a>\n\n\n<p>&nbsp;<\/p>\n\n\n<h2 class=\"wp-block-heading\" id=\"h-louie-has-a-new-twist-on-pasta\">Louie Has A New Twist on Pasta<\/h2>\n\n\n\n<p><strong>Pretend You&#8217;re Louie<\/strong><\/p>\n\n\n\n<p>Your name is Louie, and you&#8217;ve come up with <a href=\"https:\/\/nothingbutnoodles.com\/franchising\/\" target=\"_blank\" rel=\"noreferrer noopener\">a new twist on pasta<\/a>. And you want to introduce it to as many people in the U.S. as possible. <\/p>\n\n\n\n<p>You&#8217;ve perfected a unique pasta production technique, your homemade sauces are ready for prime-time, and you&#8217;ve come up with what you feel is a workable restaurant design. So you <a rel=\"noreferrer noopener\" aria-label=\"find a location (opens in a new tab)\" href=\"https:\/\/hackernoon.com\/finding-a-location-location-location-for-your-franchise-business-df5dd037a3c7\" target=\"_blank\">find a location<\/a> for your pasta restaurant and build it out. <\/p>\n\n\n\n<p>The build out goes pretty much like you expected it would. In other words, it cost a lot more than you thought, and you opened for business 2 months later than you had planned. Such is the life of <a href=\"https:\/\/www.thefranchiseking.com\/ray-kroc-the-entrepreneur-who-built-the-mcdonalds-franchise\">an entrepreneur<\/a>. <\/p>\n\n\n\n<p>But you <em>did<\/em> do something right. You documented every single thing related to the build out of your restaurant. That means you have a blueprint (<em>of sorts<\/em>) for the build out of your second location!<\/p>\n\n\n\n<p>Next, while your contractor did his thing, you created your menu, figured out pricing, picked out uniforms, purchased supplies, and figured out 100 more things. In reality, what you&#8217;re doing is putting together a franchise system! <strong>Your<\/strong> franchise system. And hopefully <a href=\"https:\/\/www.thefranchiseking.com\/top-franchise-opportunities\">a good franchise system<\/a>. <\/p>\n\n\n\n<figure class=\"wp-block-image\"><img loading=\"lazy\" decoding=\"async\" width=\"620\" height=\"413\" src=\"https:\/\/www.thefranchiseking.com\/wp-content\/uploads\/food-franchising-pasta-restaurant-620x413.jpg\" alt=\"restaurant\" class=\"wp-image-31312\" srcset=\"https:\/\/www.thefranchiseking.com\/wp-content\/uploads\/food-franchising-pasta-restaurant-620x413.jpg 620w, https:\/\/www.thefranchiseking.com\/wp-content\/uploads\/food-franchising-pasta-restaurant-320x213.jpg 320w, https:\/\/www.thefranchiseking.com\/wp-content\/uploads\/food-franchising-pasta-restaurant-600x400.jpg 600w, https:\/\/www.thefranchiseking.com\/wp-content\/uploads\/food-franchising-pasta-restaurant.jpg 640w\" sizes=\"auto, (max-width: 620px) 100vw, 620px\" \/><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-louie-s-healthy-pasta-house-is-open\">Louie&#8217;s Healthy Pasta House Is Open!<\/h2>\n\n\n\n<p>Now that your business is open, it&#8217;s time for you to tighten up system. This is where a lot of trial and error comes into play. In other words, you&#8217;ll  make mistakes. That&#8217;s fine. <strong>Mistakes are what you want now<\/strong>. That way,  you can fix them before you open location #2.   <\/p>\n\n\n\n<p>In the meantime, you continue to documenting <em>everything<\/em>. (<em>Smart move<\/em>!)<\/p>\n\n\n\n<p>Payroll costs. <a href=\"https:\/\/pos.toasttab.com\/blog\/how-to-calculate-food-cost-percentage\" target=\"_blank\" rel=\"noreferrer noopener\" aria-label=\"Food costs (opens in a new tab)\">Food costs<\/a>. Inventory turn. High and low traffic times. Your marketing and advertising efforts. <em>Everything<\/em>. You know what you&#8217;re doing by documenting everything, right?<\/p>\n\n\n\n<p>You&#8217;re creating your operations manual. <\/p>\n\n\n\n<p>And you&#8217;re going to need it. <\/p>\n\n\n\n<p>Because pretty soon, you&#8217;re going to open that second location. And if things go well, it will be time to turn <strong>Louie&#8217;s Health Pasta House<\/strong> into a <em>franchise<\/em> business. Now the work begins.<\/p>\n\n\n<p>&nbsp;<\/p>\n\n\n<h2 class=\"wp-block-heading\" id=\"h-franchising-a-business\">Franchising A Business<\/h2>\n\n\n\n<p>Anyone who&#8217;s thinking of  &#8220;<em>franchising<\/em>&#8221; their business has the same visual. <\/p>\n\n\n\n<figure class=\"wp-block-image\"><img loading=\"lazy\" decoding=\"async\" width=\"620\" height=\"414\" src=\"https:\/\/www.thefranchiseking.com\/wp-content\/uploads\/franchising-business-empire-620x414.jpg\" alt=\"franchising find out why franchising is so good\" class=\"wp-image-31316\" srcset=\"https:\/\/www.thefranchiseking.com\/wp-content\/uploads\/franchising-business-empire-620x414.jpg 620w, https:\/\/www.thefranchiseking.com\/wp-content\/uploads\/franchising-business-empire-320x213.jpg 320w, https:\/\/www.thefranchiseking.com\/wp-content\/uploads\/franchising-business-empire-768x512.jpg 768w, https:\/\/www.thefranchiseking.com\/wp-content\/uploads\/franchising-business-empire-600x400.jpg 600w, https:\/\/www.thefranchiseking.com\/wp-content\/uploads\/franchising-business-empire.jpg 1000w\" sizes=\"auto, (max-width: 620px) 100vw, 620px\" \/><\/figure>\n\n\n\n<p>Right?<\/p>\n\n\n\n<p>They imagine owning and operating a business with hundreds (<em>if not thousands<\/em>) of locations. It gets better. Let&#8217;s do some math.<\/p>\n\n\n\n<p>Let&#8217;s say you&#8217;re Louie, the entrepreneur who came up with the idea to start a chain of healthy pasta restaurants. And franchising them. <\/p>\n\n\n\n<p><a rel=\"noreferrer noopener\" aria-label=\"Your 10-year business plan (opens in a new tab)\" href=\"https:\/\/track.paloalto.com\/aff_c?offer_id=2&amp;aff_id=1430\" target=\"_blank\">Your 10-year business plan<\/a> is to have 500 highly profitable franchise business units up and running. Your figures look like this.<\/p>\n\n\n\n<p>Upfront Franchise Fees: $40,000 x 500 units = <strong>$20,000,000 <\/strong><\/p>\n\n\n\n<p>Royalties: 5% of sales = $90,000 x 500 units = <strong>$45,000,000<\/strong> (<em>based on each unit doing $1.8 million annually<\/em>)<\/p>\n\n\n\n<p>Of course, Louie needs to subtract his cost of sales, marketing, payroll and a plethora of other expenses, but when all is said and done, Louie will be a multi-millionaire. Not a bad payday, huh?<\/p>\n\n\n\n<p>Without question, that&#8217;s why so many people want to &#8220;<em>franchise<\/em>&#8221; their business. <\/p>\n\n\n\n<p>But as the saying goes&#8230;<\/p>\n\n\n\n<div class=\"boldomatic-post\" boldomatic-theme=\"normal\" boldomatic-fixed-height=\"\" boldomatic-fixed-width=\"\" post-id=\"j3KxHw\" post-activities=\"hide\"> <a href=\"https:\/\/boldomatic.com\/p\/j3KxHw\"> <img decoding=\"async\" src=\"https:\/\/cdn.boldomatic.com\/content\/post?key=143060-5354b39e443bdf727925d1b92a3d746a8e8b78f065b59cb8bdaf78fb278db58e&#038;platform=embed\" style=\"width:100%;height:auto;\"\/> <strong class=\"boldomatic-writer\"><a href=\"https:\/\/boldomatic.com\/view\/writer\/vorondill\">vorondill<\/a><\/strong> \u2014 <span class=\"boldomatic-timestamp\">04\/21\/2013 22:08:57<\/span> <\/a> <\/div> <script async src=\"\/\/tools.boldomatic.com\/content\/bundle\/web\/v2\/js\/boldomatic-embed-bundle.js\" charset=\"utf-8\"><\/script>\n\n\n\n<p>That said, my friend, Charles Internacola, just published &#8220;<em>The Ultimate Guide to Franchising Your Business<\/em>.&#8221;<\/p>\n\n\n\n<p>In it, he shows you the business franchising process, step-by-step. <\/p>\n\n\n\n<p>I encourage you to read it and bookmark it so you can go back and review it whenever necessary. <a rel=\"noreferrer noopener\" aria-label=\"Franchising Your Business Guide (opens in a new tab)\" href=\"https:\/\/www.franchiselawsolutions.com\/learn\/how-to-franchise\/\" target=\"_blank\">Franchising Your Business Guide<\/a><\/p>\n\n\n<p>&nbsp;<\/p>\n\n\n<h2 class=\"wp-block-heading\" id=\"h-franchising-getting-involved-in-the-franchise-business-from-the-other-side\">Franchising: Getting Involved In The Franchise Business From The Other Side<\/h2>\n\n\n\n<figure class=\"wp-block-image\"><img loading=\"lazy\" decoding=\"async\" width=\"620\" height=\"465\" src=\"https:\/\/www.thefranchiseking.com\/wp-content\/uploads\/franchise-opening-620x465.jpg\" alt=\"\" class=\"wp-image-31326\" srcset=\"https:\/\/www.thefranchiseking.com\/wp-content\/uploads\/franchise-opening-620x465.jpg 620w, https:\/\/www.thefranchiseking.com\/wp-content\/uploads\/franchise-opening-320x240.jpg 320w, https:\/\/www.thefranchiseking.com\/wp-content\/uploads\/franchise-opening-768x576.jpg 768w, https:\/\/www.thefranchiseking.com\/wp-content\/uploads\/franchise-opening-1536x1152.jpg 1536w, https:\/\/www.thefranchiseking.com\/wp-content\/uploads\/franchise-opening-2048x1536.jpg 2048w\" sizes=\"auto, (max-width: 620px) 100vw, 620px\" \/><figcaption class=\"wp-element-caption\">Charley&#8217;s Grand Opening, Mayfield Heights, Ohio<\/figcaption><\/figure>\n\n\n\n<p>If you&#8217;d like to benefit from franchising, but you don&#8217;t have a business you want to franchise, you can become <a href=\"https:\/\/www.thefranchiseking.com\/profitable-franchisee\">a franchisee<\/a>. <\/p>\n\n\n\n<p>Specifically, you&#8217;re leveraging the franchise model by investing in it as an <a href=\"https:\/\/www.thefranchiseking.com\/how-to-buy-a-starbucks-franchise\" target=\"_blank\" rel=\"noopener\">owner-operator<\/a>. <\/p>\n\n\n\n<p>Though some might argue that it&#8217;s better to be the franchisor&#8230;the entrepreneur who came up with the franchise concept, being a franchisee can be quite lucrative. <\/p>\n\n\n\n<p>For example, I wonder if Chad Motsinger and Ben Walsh (<em>franchisees<\/em>) had any idea that their <a href=\"https:\/\/www.thefranchiseking.com\/buy-a-taco-bell-franchise\">Taco Bell\u00ae franchises<\/a> would be purchased* by an equity firm.   <\/p>\n\n\n\n<p>*Bessemer Investment Partners, a New York-based equity firm, purchased all <strong>73<\/strong> locations <a rel=\"noreferrer noopener\" aria-label=\"for an undisclosed amount (opens in a new tab)\" href=\"https:\/\/www.restaurantbusinessonline.com\/financing\/investment-fund-buys-73-unit-taco-bell-franchisee\" target=\"_blank\">for an undisclosed amount<\/a>. I&#8217;m comfortable telling you that the purchase price was in the millions.   <\/p>\n\n\n\n<p>To be sure, transactions like that don&#8217;t happen all that often. And most multi-unit franchisees own less franchise units than Chad and Ben did. <\/p>\n\n\n\n<p>As a matter of fact, the majority of multi-unit franchise owners own between 2 and 5 franchises. <a rel=\"noreferrer noopener\" aria-label=\"But as you can see (opens in a new tab)\" href=\"https:\/\/www.frandata.com\/multi-unit-growth-by-the-numbers\/\" target=\"_blank\">But as you can see<\/a>, lots of people own 10 or more units. <\/p>\n\n\n\n<p><strong>Recommended Reading:<\/strong> &#8220;<a href=\"https:\/\/www.thefranchiseking.com\/multi-unit-franchise-owner\">Go For It! Become a Multi-Unit Franchisee<\/a>.&#8221;  <\/p>\n\n\n\n<figure class=\"wp-block-image\"><img loading=\"lazy\" decoding=\"async\" width=\"620\" height=\"348\" src=\"https:\/\/www.thefranchiseking.com\/wp-content\/uploads\/open-a-franchise-business-620x348.jpg\" alt=\"\" class=\"wp-image-31327\" srcset=\"https:\/\/www.thefranchiseking.com\/wp-content\/uploads\/open-a-franchise-business-620x348.jpg 620w, https:\/\/www.thefranchiseking.com\/wp-content\/uploads\/open-a-franchise-business-320x180.jpg 320w, https:\/\/www.thefranchiseking.com\/wp-content\/uploads\/open-a-franchise-business.jpg 640w\" sizes=\"auto, (max-width: 620px) 100vw, 620px\" \/><\/figure>\n\n\n<p>&nbsp;<\/p>\n\n\n<div class=\"schema-faq wp-block-yoast-faq-block\"><div class=\"schema-faq-section\" id=\"faq-question-1573153771882\"><strong class=\"schema-faq-question\">How Do You Own A Franchise?<\/strong> <p class=\"schema-faq-answer\">1. You need to determine if you are the right type of person to own a franchise business.<br \/>2. You need to take a financial snapshot. In other words, you need to know where you stand financially. <a href=\"https:\/\/www.thefranchiseking.com\/free-net-worth-calculator-from-the-franchise-king\">My Free Net Worth Calculator<\/a> will help you do just that. <br \/>3. You must determine your strengths and weaknesses, as they pertain to owning and operating a business. Once you have a good idea of what they are, you&#8217;ll be able to focus on franchises you can best utilize your strengths with. Make sense?    <br \/>4. This step will involve lots of screen time. That&#8217;s because you&#8217;ll be spending time on <a href=\"https:\/\/www.thefranchiseking.com\/the-top-10-franchise-opportunity-websites\">the top franchise opportunity websites<\/a>, looking at franchise opportunities that may end up being a good fit. <br \/>5. Franchisor calls. This step involves contacting the specific franchises you found, so you can get more information on the business to see if it fits what you want in a business.<br \/>6. This step is the most important one. It&#8217;s where the rubber hits the road. It&#8217;s the research. Please make sure <a href=\"https:\/\/www.thefranchiseking.com\/how-to-research-a-franchise\">you know how<\/a> to do it. <br \/>7. Financing your franchise. This step involves figuring out how you&#8217;re going to pay for a franchise&#8230;if you find the right one. Options include paying cash, getting a loan backed by the SBA, or <a href=\"https:\/\/www.thefranchiseking.com\/7-powerful-reasons-buy-franchise-using-401k\">using a portion of your retirement funds<\/a>.  <br \/>8. This is the business plan step. Without exception, you need to have a a solid business plan. First off, a solid business plan is a must when you apply for a small business loan. Secondly, if you end up buying a franchise, you&#8217;ll want to track the growth of your business. <strong>Good<\/strong> <strong>News:<\/strong> there&#8217;s now a way for you to track everything in real time. <strong><a rel=\"noreferrer noopener\" href=\"https:\/\/partners.liveplan.com\/the-franchise-king\" target=\"_blank\">Look!<\/a><\/strong> <br \/>9. Lawyer up. That&#8217;s right&#8230;this step involves hiring a franchise attorney. She&#8217;ll go through the <a href=\"https:\/\/www.thefranchiseking.com\/what-my-dad-taught-me-about-fdd\">FDD<\/a> with you, read the franchise agreement, and maybe even do <a href=\"https:\/\/www.thefranchiseking.com\/top-franchise-attorneys\">what I talk about here<\/a>, so you&#8217;ll be able to sleep well at night if you say yes to buying the franchise you&#8217;re interested in. <br \/>10. The final step in the process is the decision step. It&#8217;s a simple (<em>but not always easy<\/em>) yes or no.  <br \/> \u00a0 <\/p> <\/div> <\/div>\n\n\n<p>&nbsp;<\/p>\n\n\n<h2 class=\"wp-block-heading\" id=\"h-franchising-can-change-your-life\">Franchising Can Change Your Life<\/h2>\n\n\n\n<p>If you&#8217;re an entrepreneur who has a great business concept that&#8217;s franchise-worthy,  franchising has the potential to make big things happen for you. <strong>Like growing one location into a multi-location, nationwide, revenue and profit generating machine<\/strong>. Would that be life-changing enough for you?<\/p>\n\n\n\n<p>Or maybe you&#8217;re someone who wants to take control of your life by becoming your own boss. If that&#8217;s the case, franchising&#8230;<a href=\"https:\/\/www.thefranchiseking.com\/the-3-ps-of-franchising\">owning a franchise<\/a> business, <strong>can give you the freedom and control you&#8217;ve always wanted to have<\/strong>. And if you play your cards right, you&#8217;ll have a profitable business you can be proud of. <\/p>\n\n\n\n<p>Either way,  you need to decide if you want to embrace the franchise business model. <\/p>\n\n\n\n<p><strong>Because franchising is good<\/strong>.  <\/p>\n","protected":false},"excerpt":{"rendered":"<p>I have a question for you. Why is franchising good? There are lots of reasons why franchises are good. Why franchising has it&rsquo;s advantages. I encourage you to follow along as I show you why franchising is so good. &nbsp; Why Is Franchising Good? One reason franchising is so good, is because it&rsquo;s enabled hundreds [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":31329,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","footnotes":""},"categories":[33,32,1436],"tags":[1650],"class_list":["post-31288","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-franchise-research","category-franchise-purchasing","category-franchising","tag-franchising"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Why Is Franchising Good? | The Franchise King\u00ae&#039;s Answer<\/title>\n<meta name=\"description\" content=\"Why is franchising good? The Franchise King\u00ae has the answer, and more. 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Read all about it it now, so you can see for yourself!\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.thefranchiseking.com\/franchising-good\" \/>\n<meta property=\"og:site_name\" content=\"The Franchise King\u00ae\" \/>\n<meta property=\"article:published_time\" content=\"2019-10-07T17:06:05+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-03-23T16:18:53+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.thefranchiseking.com\/wp-content\/uploads\/this-is-good.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1000\" \/>\n\t<meta property=\"og:image:height\" content=\"667\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Joel Libava\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.thefranchiseking.com\\\/franchising-good#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.thefranchiseking.com\\\/franchising-good\"},\"author\":{\"name\":\"Joel Libava\",\"@id\":\"https:\\\/\\\/www.thefranchiseking.com\\\/#\\\/schema\\\/person\\\/b560fd324f6df9be52ac875e631beb66\"},\"headline\":\"Why Is Franchising Good?\",\"datePublished\":\"2019-10-07T17:06:05+00:00\",\"dateModified\":\"2024-03-23T16:18:53+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.thefranchiseking.com\\\/franchising-good\"},\"wordCount\":1764,\"publisher\":{\"@id\":\"https:\\\/\\\/www.thefranchiseking.com\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/www.thefranchiseking.com\\\/franchising-good#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.thefranchiseking.com\\\/wp-content\\\/uploads\\\/this-is-good.jpg\",\"keywords\":[\"franchising\"],\"articleSection\":[\"Franchise Opportunity Research Information\",\"Franchise Purchasing\",\"franchising\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2019\",\"copyrightHolder\":{\"@id\":\"https:\\\/\\\/www.thefranchiseking.com\\\/#organization\"}},{\"@type\":[\"WebPage\",\"FAQPage\"],\"@id\":\"https:\\\/\\\/www.thefranchiseking.com\\\/franchising-good\",\"url\":\"https:\\\/\\\/www.thefranchiseking.com\\\/franchising-good\",\"name\":\"Why Is Franchising Good? | The Franchise King\u00ae's Answer\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.thefranchiseking.com\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/www.thefranchiseking.com\\\/franchising-good#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/www.thefranchiseking.com\\\/franchising-good#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.thefranchiseking.com\\\/wp-content\\\/uploads\\\/this-is-good.jpg\",\"datePublished\":\"2019-10-07T17:06:05+00:00\",\"dateModified\":\"2024-03-23T16:18:53+00:00\",\"description\":\"Why is franchising good? 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Finally, he's been in franchising close to 25 years.\",\"email\":\"joel@thefranchiseking.com\",\"telephone\":\"2168312610\",\"legalName\":\"Franchise Selection Specialists Inc.\",\"foundingDate\":\"2002-01-20\",\"taxID\":\"20-1184045\",\"numberOfEmployees\":{\"@type\":\"QuantitativeValue\",\"minValue\":\"1\",\"maxValue\":\"10\"}},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/www.thefranchiseking.com\\\/#\\\/schema\\\/person\\\/b560fd324f6df9be52ac875e631beb66\",\"name\":\"Joel Libava\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/0c74981307dba3f4970cdf8359a1b2fc6ffe7721a2e3d1001acd9ac59db6ed61?s=96&d=mm&r=pg\",\"url\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/0c74981307dba3f4970cdf8359a1b2fc6ffe7721a2e3d1001acd9ac59db6ed61?s=96&d=mm&r=pg\",\"contentUrl\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/0c74981307dba3f4970cdf8359a1b2fc6ffe7721a2e3d1001acd9ac59db6ed61?s=96&d=mm&r=pg\",\"caption\":\"Joel Libava\"},\"description\":\"I\u2019m The Franchise King\u00ae, Joel Libava. I'm the author of two helpful books on researching and buying a franchise. In addition, I'm a Franchise Ownership Advisor with 20+ years of experience working 1-on-1 with people interested in buying a franchise, safely. Subscribe to my free VIP Franchise Newsletter.\",\"sameAs\":[\"https:\\\/\\\/www.thefranchiseking.com\",\"https:\\\/\\\/www.instagram.com\\\/thefranchchiseking1\",\"https:\\\/\\\/linkedin.com\\\/in\\\/joellibava\",\"https:\\\/\\\/in.pinterest.com\\\/franchiseking\\\/\",\"https:\\\/\\\/www.youtube.com\\\/JoelLibava\"],\"knowsAbout\":[\"Franchising\"]},{\"@type\":\"Question\",\"@id\":\"https:\\\/\\\/www.thefranchiseking.com\\\/franchising-good#faq-question-1573153771882\",\"position\":1,\"url\":\"https:\\\/\\\/www.thefranchiseking.com\\\/franchising-good#faq-question-1573153771882\",\"name\":\"How Do You Own A Franchise?\",\"answerCount\":1,\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"1. You need to determine if you are the right type of person to own a franchise business.<br\\\/>2. You need to take a financial snapshot. In other words, you need to know where you stand financially. <a href=\\\"https:\\\/\\\/www.thefranchiseking.com\\\/free-net-worth-calculator-from-the-franchise-king\\\">My Free Net Worth Calculator<\\\/a> will help you do just that. <br\\\/>3. You must determine your strengths and weaknesses, as they pertain to owning and operating a business. Once you have a good idea of what they are, you'll be able to focus on franchises you can best utilize your strengths with. Make sense?    <br\\\/>4. This step will involve lots of screen time. That's because you'll be spending time on <a href=\\\"https:\\\/\\\/www.thefranchiseking.com\\\/the-top-10-franchise-opportunity-websites\\\">the top franchise opportunity websites<\\\/a>, looking at franchise opportunities that may end up being a good fit. <br\\\/>5. Franchisor calls. This step involves contacting the specific franchises you found, so you can get more information on the business to see if it fits what you want in a business.<br\\\/>6. This step is the most important one. It's where the rubber hits the road. It's the research. Please make sure <a href=\\\"https:\\\/\\\/www.thefranchiseking.com\\\/how-to-research-a-franchise\\\">you know how<\\\/a> to do it. <br\\\/>7. Financing your franchise. This step involves figuring out how you're going to pay for a franchise...if you find the right one. Options include paying cash, getting a loan backed by the SBA, or <a href=\\\"https:\\\/\\\/www.thefranchiseking.com\\\/7-powerful-reasons-buy-franchise-using-401k\\\">using a portion of your retirement funds<\\\/a>.  <br\\\/>8. This is the business plan step. Without exception, you need to have a a solid business plan. First off, a solid business plan is a must when you apply for a small business loan. Secondly, if you end up buying a franchise, you'll want to track the growth of your business. <strong>Good<\\\/strong> <strong>News:<\\\/strong> there's now a way for you to track everything in real time. <strong><a rel=\\\"noreferrer noopener\\\" href=\\\"https:\\\/\\\/partners.liveplan.com\\\/the-franchise-king\\\" target=\\\"_blank\\\">Look!<\\\/a><\\\/strong> <br\\\/>9. Lawyer up. That's right...this step involves hiring a franchise attorney. She'll go through the <a href=\\\"https:\\\/\\\/www.thefranchiseking.com\\\/what-my-dad-taught-me-about-fdd\\\">FDD<\\\/a> with you, read the franchise agreement, and maybe even do <a href=\\\"https:\\\/\\\/www.thefranchiseking.com\\\/top-franchise-attorneys\\\">what I talk about here<\\\/a>, so you'll be able to sleep well at night if you say yes to buying the franchise you're interested in. <br\\\/>10. The final step in the process is the decision step. It's a simple (<em>but not always easy<\\\/em>) yes or no.  <br\\\/> \u00a0 \",\"inLanguage\":\"en-US\"},\"inLanguage\":\"en-US\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Why Is Franchising Good? | The Franchise King\u00ae's Answer","description":"Why is franchising good? The Franchise King\u00ae has the answer, and more. Read all about it it now, so you can see for yourself!","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.thefranchiseking.com\/franchising-good","og_locale":"en_US","og_type":"article","og_title":"Why Is Franchising Good?","og_description":"Why is franchising good? The Franchise King\u00ae has the answer, and more. 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In other words, you need to know where you stand financially. <a href=\"https:\/\/www.thefranchiseking.com\/free-net-worth-calculator-from-the-franchise-king\">My Free Net Worth Calculator<\/a> will help you do just that. <br\/>3. You must determine your strengths and weaknesses, as they pertain to owning and operating a business. Once you have a good idea of what they are, you'll be able to focus on franchises you can best utilize your strengths with. Make sense?    <br\/>4. This step will involve lots of screen time. That's because you'll be spending time on <a href=\"https:\/\/www.thefranchiseking.com\/the-top-10-franchise-opportunity-websites\">the top franchise opportunity websites<\/a>, looking at franchise opportunities that may end up being a good fit. <br\/>5. Franchisor calls. This step involves contacting the specific franchises you found, so you can get more information on the business to see if it fits what you want in a business.<br\/>6. This step is the most important one. It's where the rubber hits the road. It's the research. Please make sure <a href=\"https:\/\/www.thefranchiseking.com\/how-to-research-a-franchise\">you know how<\/a> to do it. <br\/>7. Financing your franchise. This step involves figuring out how you're going to pay for a franchise...if you find the right one. Options include paying cash, getting a loan backed by the SBA, or <a href=\"https:\/\/www.thefranchiseking.com\/7-powerful-reasons-buy-franchise-using-401k\">using a portion of your retirement funds<\/a>.  <br\/>8. This is the business plan step. Without exception, you need to have a a solid business plan. First off, a solid business plan is a must when you apply for a small business loan. Secondly, if you end up buying a franchise, you'll want to track the growth of your business. <strong>Good<\/strong> <strong>News:<\/strong> there's now a way for you to track everything in real time. <strong><a rel=\"noreferrer noopener\" href=\"https:\/\/partners.liveplan.com\/the-franchise-king\" target=\"_blank\">Look!<\/a><\/strong> <br\/>9. Lawyer up. That's right...this step involves hiring a franchise attorney. She'll go through the <a href=\"https:\/\/www.thefranchiseking.com\/what-my-dad-taught-me-about-fdd\">FDD<\/a> with you, read the franchise agreement, and maybe even do <a href=\"https:\/\/www.thefranchiseking.com\/top-franchise-attorneys\">what I talk about here<\/a>, so you'll be able to sleep well at night if you say yes to buying the franchise you're interested in. <br\/>10. The final step in the process is the decision step. It's a simple (<em>but not always easy<\/em>) yes or no.  <br\/> \u00a0 ","inLanguage":"en-US"},"inLanguage":"en-US"}]}},"_links":{"self":[{"href":"https:\/\/www.thefranchiseking.com\/wp-json\/wp\/v2\/posts\/31288","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.thefranchiseking.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.thefranchiseking.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.thefranchiseking.com\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.thefranchiseking.com\/wp-json\/wp\/v2\/comments?post=31288"}],"version-history":[{"count":5,"href":"https:\/\/www.thefranchiseking.com\/wp-json\/wp\/v2\/posts\/31288\/revisions"}],"predecessor-version":[{"id":46425,"href":"https:\/\/www.thefranchiseking.com\/wp-json\/wp\/v2\/posts\/31288\/revisions\/46425"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.thefranchiseking.com\/wp-json\/wp\/v2\/media\/31329"}],"wp:attachment":[{"href":"https:\/\/www.thefranchiseking.com\/wp-json\/wp\/v2\/media?parent=31288"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.thefranchiseking.com\/wp-json\/wp\/v2\/categories?post=31288"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.thefranchiseking.com\/wp-json\/wp\/v2\/tags?post=31288"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}