Frequently Asked Questions
What Are The Advantages of Franchising?
One of the greatest benefits of buying a franchise is being able to use an already established brand to market your business. When you start a new company from scratch, you generally have to put in a tremendous amount of effort into marketing, advertising and networking in order to achieve brand recognition and attract customers. Franchises, on the other hand, are already well known to the public and come with a built-in customer base, allowing you to save the money and effort you would spend just to get your name out there. You also have the advantage of following a business model that has already proven successful, eliminating the trial-by-error method of developing your own system.
How Does a Franchised Chain Start?
Imagine a store owned by an individual with a particular concept. If the business is successful, the owner may develop a second or third store and hire employees for the day-to-day operations. Beyond that point, if the entrepreneur still wants to expand but prefers not to operate additional stores himself/herself, he or she may decide to franchise the store name and business system to an independent business person known as a franchisee. In return, the entrepreneur may ask for an initial fee and/or a continuing royalty payment based on a percentage of that franchisee's sales: The business is now franchised.
How do I Know if Franchising is Right for Me?
Buying a franchise can be an ideal way to start a business because you enjoy the benefit of building on a proven concept, and much of the start-up work has been done for you. There are tradeoffs, though, and you should be sure you feel comfortable with those before taking the leap. One reason franchises are successful is consistency, and that means the franchisee must follow established systems and processes to ensure a consistent product. If you want to be creative and make your own way, franchising might not be the solution for you.
Why Should You Work with OpenDoor Franchises?
Some processes in life are more successful with the expert guidance of an industry insider. A good real estate agent will sell you a home that meets your needs for square footage and number of bathrooms, but a great real estate agent will help you navigate perks and pitfalls you would have never even known to inquire about. The difference between a good and a great real estate agent is the difference between someone who can sell you a house and someone who can match you with a home.
At OpenDoor Franchises, we excel at matching you with a business that will match your budget, lifestyle and long-term goals. What’s more, your franchise fee is the same whether you work through us or find a franchise on your own. Working with us could mean the difference between buying a business and building a future.
How Much Do OpenDoor's Franchise Brokering Services Cost?
Our services are completely free to use. Yes, free. We receive a commission when you are matched to a franchise from the franchisors we represent. This is paid by the franchisor and has no bearing on the franchise fee you’re charged. Our number one priority is always to you, our clients, ensuring you’re investing in a business where you will experience long-term success.
How Does the Franchise Matching Process Work?
This process is all about you and helping you accomplish your goals. So, we’ll start with a conversation about what those goals are and what experience and budget you can contribute to help you get there. From there we can begin examining which industries, ownership models, and specific concepts might be right for you. We’ll be with you every step of the way, offering expert guidance to ensure you begin a business that will be the best franchise fit for you. Our services are always free of charge.
What Kinds of Franchise Opportunities Are Available?
When we think of franchises, fast food restaurants most likely come to mind. However, most any business that can be easily duplicated can translate to a franchise. Today there is a franchise opportunity for nearly every type of business. Some concepts you might not have considered include day care centers, cleaning services, senior care, automotive and fitness centers. Your interests and investment level will help determine which business is right for you.