FREQUENTLY
ASKED QUESTIONS
Q.
Who is Franchises Galore?
A. We serve as a business opportunity brokerage, representing franchises,
licensors, dealerships, and business opportunities of all sizes,
descriptions, styles, prices, and locations
Q.
Why work with Franchises Galore rather than go directly to the franchise?
A. We offer one-stop shopping for all your entrepreneurial needs,
matching you with the right business while alleviating the time,
cost, and confusion of going it alone. We are also able to make
you aware of lesser-known opportunities you may never have found
on your own.
For the franchises themselves, the confusion is even worse. Most
get so many inquiries, they respond only to a small fraction of
individual requests. They prefer, instead, to use our services to
ensure that candidates are interested and qualified.
Q. What type of businesses does Franchises Galore represent?
A. Cross-section of hundreds of different businesses, full and part-time,
small-to-large investment, nationally known to emerging brands.
Q.
Will I pay more for the franchise if I use Franchises Galore?
A. No. You will pay the published price for any franchise just as
if you had gone directly to the seller. The seller absorbs our marketing
costs.
Q.
Does Franchises Galore charge any up-front fees to the purchaser?
A. No. You never pay us for any of our work, before or after the
purchase. Our income is earned by commissions paid to us by the
sellers of the businesses.
Q.
Does Franchises Galore offer training, advice, or counsel?
A. No. We leave that to the professionals. We are careful to represent
only the highest quality businesses and we research any business
before adding it to our listings. But we also recommend that you
seek advice from a qualified attorney or CPA before making a major
business purchase decision.
Q.
How does Franchises Galore differ from a standard business brokerage?
A. A business brokerage lists and sells existing businesses, often
including real estate and leases in the sale. Usually these are
local businesses run by local owners and are frequently overpriced
or lack sufficient bookkeeping controls. Franchises Galore, represents
primarily new business opportunities.
Q.
Why should I buy a franchised business?
A. Landlords love franchises because of a very stable track record,
a proven system, and an ongoing business model. Last year, 50% of
all retail goods and services were sold through franchised outlets.
You are in business for yourself, but never by yourself.
Q.
What kind of investment is necessary to buy a franchise?
A. Investment requirements differ tremendously. It all depends on
the industry and the type of business. Total start-up costs can
range from $20,000 or less, to over $1,000,000, depending on the
franchise selected, and whether it is necessary to own or lease
real estate to operate the business. Moreover, the initial franchise
fee for most franchisors is between $10,000 and $30,000. Seventy
percent of franchisors charge an initial franchise fee of $40,000
or less. More than half of franchises available have initial investment
levels below $100,000.
Q.
Is financial assistance available?
A. Financing can be a major hurdle for any potential franchisee.
Some franchises provide financial assistance. Many are SBA approved
and can assist you through the process of getting financing. The
franchisor is a great source of information on financing options.
Q.
Would I make a successful franchisee?
A. Important questions to ask yourself include: Am I suited to the
industry physically and by experience, education, learning capacity,
temperament and financial ability? What type of work is most appealing
to me; for example, do I enjoy working with food, mechanical things,
people, real estate, books and recordings, sporting goods, etc.?
Am I prepared to work hard and take financial risks? Do my advisors,
family, and friends think I am adaptable and trainable? How do I
react to controls? Am I a loner - resenting authority and restraints,
or can I accept guidance and direction happily? If I prefer to act
as a passive investor in the franchise, will the company accept
this? How do I personally feel about the company's image and products
and services? The right answers to these types of questions help
determine your potential success as a franchisee.
Q.
Do I need specific industry experience to successfully own a franchise?
A. No. In fact, many franchisors look for people with no experience
in their industry. Most of them want you to work ON the business,
not IN the business. They will provide training to enable you to
be successful with their proven system.
Q.
How soon can I get started in a business?
A. The franchise consultation process can be completed within a
few days if you are responsive and motivated. After you complete
the investigative process and decide on the business for you, it
can take anywhere from a few weeks to 6+ months for your business
to begin.
Q.
What is the next step?
A. CLICK HERE TO
COMPLETE A GETTING STARTED FORM. Complete and submit
the Getting Started form. We will contact you with free information
about business opportunities that match your criteria.
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