Should I Get Into the Franchising Industry?
Posted by Michael Dunlap on Tue, Sep 20, 2011 @ 01:47 PM
There are a variety of franchising possibilities in the world. If you look at any online franchise directory, it may seem like a daunting task to find the right franchise opportunity for you. Variables such as the type of franchise, start-up cost, corporate stability, locations available and experience necessary will likely factor into your decision to learn more.
The first step in choosing the right franchise opportunity is to understand why you should even consider franchising in the first place. Do you feel trapped in your current job? Is there a ceiling or limit to the money you can earn? Do you desire to be your own boss? These are common reasons that we've heard from past candidates on why they wanted to become a franchisee. If you have felt this way in your present career, you may want to consider franchising as your guide to corporate and financial freedom.
Why franchise? Quite simply, less risk. 80% of new small business fail within the first two years. Conversely, 92% of franchise businesses are still operating after five years. Granted, for a variety of reasons, not all franchise business last. It is important to do your research and choose franchise opportunities with a strong business model, constant corporate support, and niche in the market.
Automotive franchising, specifically auto repair, has become an attractive opportunity. In today's economy, owners are holding on to their
vehicles and opting to avoid the expense of monthly car payments. Oil change, engine repair, auto glass repair, bumper painting, and window tinting are popular franchises in the auto industry; however, one area of concentration gaining popularity is alloy wheel repair. Most cars coming out of the factory are standard with expensive alloy wheels. Curbs, potholes, road debris, chemicals and weather elements will damage alloys over time. Replacement costs can run up to $500 per wheel! The need for alloy wheel repair has been born and is in the beginning stage of a booming industry.
Alloy Wheel Repair Specialists is at the forefront of the industry and is a fully mobile operation. Without the need for a brick and mortar location, the franchise fee is affordable with above average profits. As the world's largest mobile wheel repair company with over 160 franchise locations worldwide, the business model is a proven success and franchisees enjoy the entrepreneurial freedoms of owning their own business.