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Franchise 101

How does Franchising work?

In exchange for an initial fee and a share of the revenue earned, the franchisor:

Grants the franchisee the right to use his brand system

Provides on-going training, support and guidance

Provides certain operating tools

The license (franchise agreement) is granted for a defined geography and specific period of time

The franchisee agrees to operate the business in accordance with specific performance standards

Franchise Strengths

The franchise sector has been expanding at a faster pace than the overall business sector in recent years. According to the International Franchise Association (IFA), from 2001 to 2005 the output of franchised businesses grew by more than 41 percent, while the economic output of all businesses grew by only 26 percent. By combining business ownership with a well-known brand name, experience and an established franchisor, franchisees and franchisors form a unique, mutually beneficial business relationship.

Benefits of Franchising

Owning a franchise offers most of the benefits of traditional business ownership with far less risk and provides additional aspects to assist with success. By buying into a franchise, you have the immediate backing of a recognized brand with a proven track record and business system. Franchise ownership provides:

A proven idea for higher chance of success

Reduced risk of failure compared to starting up an independent business of same type

Name recognition and acceptance

Corporate support

Corporate purchasing and negotiating power

Training and operational support from experts in the business

Access to others in the same business, their knowledge and experience

Favorable view of franchising by lenders, as risk is reduced in a franchise system

Ease of selling your business when you choose to, due to all of the above.

Risks of Franchising

Franchising is a commitment of your time and resources. You need to carefully consider questions such as: What would a typical day be like? Are you cut out to be your own boss? Are you good at delegating / supervising? Do you have the financial resources to live on while the franchise gets off the ground? Can you follow a system?

What Franchising can do for You

Franchising means being in business for yourself, but not by yourself. Whether it's accounting and financing, advertising and public relations, personnel management, purchasing, or inventory control, franchisors are there to provide "hands on," one-to-one assistance. While franchising does provide opportunities, it does not create miracles. Franchisees combine knowledge and resources with entrepreneurial drive and spirit to form a business relationship unique to franchising. Franchising is a field of expanding economic opportunity in which each and every person can play a part based on talent, initiative, and dedication.

Franchise News

19 Commonly Asked Questions About Franchising!

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A franchise of The WAITING GAME® can help you achieve many of your personal and financial goals. We give you the freedom to run your own business, but with a supportive community of people doing the same thing, a proven business model and a trademarked name. We allow you the opportunity to be in business for yourself, not by yourself.

To learn more about franchising, visit the International Franchise Association (IFA) website or call us at (877) 444-9248.

Named a Top Low Cost Franchise By Entrepreneur Magazine

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Why Own A Waiting Game® Franchise?

  • Home Based - Giving You A Flexible Lifestyle
  • Low Cost Investment - Less Out-of-Pocket Expenses
  • Cashflow Positive Day 1 - Financial Independence

Franchised 500 Ranked - 2014