What is the success rate for franchises?
Franchises have 90% success rate while starting one’s own businesses has 15% success rate. Franchises underwent years of development and modification and have pass that “trail and error” knowledge for its specific Franchisees. They have initial training in every aspect of the business that lasts from 1 to 2 weeks at one of the franchises existing locations or corporate office. There is a hands-on position required to run the business that ranges from marketing, hiring, purchasing, bookkeeping, management and supervisory techniques. There are appropriate assistance together with demographic reports that will be very helpful in choosing the right locations. There are pre-opening strategies and marketing materials for newspaper, print ads, handout, yellow page, advertising, radio and even TV ads. In the first week of business the Franchiser provide its own personnel to the Franchisee for assistance to ensure smooth sailing operation during the opening. Moreover, when the business opens, a
