Start A Franchise Business and Earn Multiple Income Streams

Have you always wanted to start a franchise business? Do you think that your business is a good candidate for a franchise? Franchising is an area of extremely large economic impact and can play a major part in your goal to create multiple income streams.

I travel frequently, and have been lucky enough to live in wonderful places such as Hawaii. One of the things that I always notice is how people congregate at well-known franchise chains. In Waikiki, any chain operation is pretty much guaranteed to be busy—often much busier than the local restaurants or businesses. If you consider that the reason many people travel is to “get away,” then you have to wonder why so many people are going to places that they could just as easily go to at home? Yet, the lure of the familiar is deep-seated, and that’s where many franchise businesses get their strength.

Franchising, in and of itself, is not a business—rather, it is a method of doing business. It is a way for a company to market and distribute its products or services. The franchising method results in big business--according to a study done by Price Waterhouse Coopers for the International Franchising Association, “the total impact of franchising was to create 18,121,595 jobs (13.7 percent of all private-sector jobs) and $506.6 billion of payroll (11.1 percent of all private-sector payroll) in 2001.” This study was conducted in the United States, but you only need to see the prevalence of large franchise networks such as Starbucks and McDonalds in almost every country to understand that the interest and economic impact of the franchising method is worldwide. It seems that the desire to start a franchise business – and the follow through to actually doing it—is a path that many find desirable.

To start a franchise business, there are two paths to take: you can franchise your business or buy a franchise. Although both paths have some common concerns, they process for each is completely different.

Another option is licensing. Licensing and franchising have many similarities, but also some important differences. You should consider both before making a decision about what is best for your overall business plan, and what will best help you earn multiple income streams.

Franchise your Business -- How to Franchise

How to Franchise -- Franchise Your Business
and Earn Multiple Income Streams

coming soon--Reasons to Franchise Your Business

coming soon--Why Franchisors Fail

Investing in a Franchise -- Buy a Franchise

coming soon--What you Should Expect from the Franchisor

Start a Franchise Business: Before You Sign
Things to Consider in a Franchise Agreement

Return to Multiple-Income-Streams.com Home Page