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Considerations for Choosing a Franchise Business
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[QUOTE="freelancermaria, post: 296350, member: 26956"] A company's franchise status is determined by its organizational makeup. If a company's owner agrees to let another company use the company's trademarks, trade names, and other identifying features in exchange for a fee, the arrangement is known as franchising. There are benefits to both the franchisor and franchisee when conducting business in a franchised arrangement. Should you like to franchise, here are some considerations to keep in mind. [B]Successful Business Design[/B] You should look for a franchise with a proven revenue model. There are many franchise businesses that have an operation on the tried-and-true membership system. [B]Customer Retention[/B] Look for a franchise that can help you develop a loyal client base. An over 90% customer retention rate is excellent and should encourage any future investors. [B]Rewards for New Clients[/B] Find out what the franchise is providing in the way of bonuses if you want to gain new clients and money on a regular basis. If you wish to succeed, your company's model should aim to expand its clientele continuously. [B]Healthy Lifestyle[/B] Business decisions should be made with the customer's health and happiness in mind. Pick a health-focused the franchise that is successful in the business sense as well. [B]Track Record of Success[/B] Buying into a franchise is a way to profit from an established business model. The ability of the franchise to show evidence of its franchisees' successful sales efforts is encouraging. [/QUOTE]
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