I understand him and I advised to get a franchise concept that is new and not easily copied. Food carts are a no-no since I know many food cart businesses that have lost money. Also, food cart concepts are quite similar to each other. The market is already flooded with choices.
He asked me for some tips and advice on how to choose the right business to franchise.
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Below are some of the tips in getting a franchise.
- Make sure that what you will be getting won't have any competition in the market. Competition eats away your market share. This is the reason why I am hesitant to recommend getting a food cart business since there are so many food cart franchisors offering the same products and services.
- Support from the company. A franchisor is responsible for training the franchisee and his staff. The franchisee, in turn, must make sure he and his staff must learn what the franchisor has taught. From time to time, the franchisor will send his own staff to monitor and supervise a franchisees staff.
- Constant marketing campaigns to ensure that the product or service will be on the customers' minds. Since a typical person will be bombarded with more than 5,000 ads on a typical day, the franchisor must seek creative ways to reach his target audience. This will ensure that the customers will go the franchisee's store.