As mentioned in a previous blog, there are three ways to open your
own business: start from scratch, purchase an existing business, or purchase a
franchise. I personally think that
starting from scratch is possibly the most difficult.
The USAA Magazine, Summer
Edition on page 20 has an informative article by Ian Mount, “Open for
Business”. While the target audience for
this article is armed service veterans, I think it contains many hints for anyone
considering the purchase of a franchise.
Here are some recent statistics about franchises:
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Most Popular Franchises1
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1.
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Subway Sandwich Shop
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2.
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Quiznos
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3.
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The UPS Store
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4.
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Cold Stone Creamery
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5.
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Dairy Queen
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6.
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Dunkin' Donuts
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7.
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Super 8 Motel
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8.
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Days Inn
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9.
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Curves For Women
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10.
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Matco Tools
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10 Best-Performing Franchises1
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1.
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Christian Brothers Automotive
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2.
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Motel 6
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3.
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Sleep Inn Motel
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4.
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Country Inns & Suites
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5.
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Ameriprise Financial Services
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6.
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AmericInn Hotels & Suites
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7.
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Taco Bell
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8.
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Baymont Inns & Suites
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9.
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Chicken Express
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10.
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Comfort Inn
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10 Worst-Performing Franchises1
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1.
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Executive Tans
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2.
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Golf Etc.
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3.
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Mr. Goodcents Sub & Pasta
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4.
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Philly Connection
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5.
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Cottman Transmission
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6.
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Camille’s Sidewalk Cafe
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7.
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Dream Dinners
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8.
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My Gym
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9.
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All Tune and Lube
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10.
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Carvel Ice Cream
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1From "2011 Franchise Coleman Report." Data includes only
brands with at least 50 SBA-backed loans between 2000 and 2010. "Failure
rate" includes both loans charged off and those in liquidation, divided by
the number of loans disbursed.
Please comment in this blog or email me at glynjordan@gmail.com concerning your experience
in franchising.
Thanks! Glyn
There are so many business ideas that are out there waiting for enterprising individuals to exploit. Although franchises are common with retail businesses they however do exist in many industries and markets including manufacturing.
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