Built on service, the Jim’s Franchise has grown from Jim’s commitment to listening to his franchisees. In fact Jim has set a standard when it comes to the handling of his franchisees and his willingness to try new franchise ideas.

Jim’s Franchise | New Divisions

The way that the Jims franchise has grown is from introducing new divisions to the Jim’s Group. Starting with Jim’s Mowing, each new division was introduced when a franchisee came to Jim with an idea for a new service. Jim would then allow that franchisee to create a Jim’s divisions to test out the idea – and if it worked, then it would become one of the Jim’s franchise opportunities.

Franchisee Marketing

Jim’s is in a highly desired position when it comes to being able to provide marketing for their franchisees. Having turned down more than 66,000 customer enquiries in 2008, the claim that new Jim’s franchise owners are flat out from the start. Being able to offer leads to new franchisees is an amazing asset to the gaining of new franchisees.

Franchisee Support

This is definitely another area where the Jim’s Franchise stands out. How many major franchisers will give you the phone number and email address of their founder and managing director? WITH the instruction to call whenever you need too. This is just the type of personal service and support that Jim Penman has build the Jims Group on.

If you are looking for a franchise that provides it’s franchisees with quality business leads to start making money from day one, and personal support to help you face any problems that you may face, then a Jim’s Franchise might be just what you are looking for. However make sure you look into the franchise costs to see if they are something that you are able to manage.

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However, due to the these factors, there is quite a high requirements from their franchisees – to make sure they continue to build the McDonald’s brand.

McDonalds Franchise Requirements:

• Very Large Capital Outlay
  Several sources confirm that if you are interest in a McDonalds Franchise then you are going to have at least $1million (probably more like $1.5million), just to get started. This figure includes franchise fees, equipment and other startup costs. This figure does not have to be totally unencumbered – as long as you have a sound business plan.
  
  
• Quality Business Experience
  McDonald’s want to make sure that you would be able to successfully run one of their stores and even though they have a proven system, they definitely require you have to quite a business background. As well as having previous management experience in a fast food service business, they also require general business and marketing experience.
• Very Long Franchise Agreement
  Be prepared to sign your life away for as long as your home mortgage, with McDonalds Franchise Agreements being for a term of 20 years. That is a quite a large portion of your life to literally give to a business, but if you like the first 20 years, then you will have the option to renew your agreement for another 20 years for the initial franchise costs.
  
  
• Be Committed To Working IN Your McDonalds Franchise
  McDonald’s requires its franchisees to be actively involved in the day-to-day running of their franchise.

However, if you are able to meet their stringent requirements, and are lucky enough to be approved, then you are sure to have a fantastic investment. The proof is in the fact that most Franchise owners are multiple franchise owners. But if you do not qualify you could always consider the many McDonalds careers on offer.

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There are many benefits that will help you to make informed decisions and with the large amount of different franchise systems there is no better way to explore so many different business options (or competitors) in one place.

What Is A Franchise Expo?

Usually held once a year, a franchise expo is where a large selection of franchisers and franchise related services come together in one place, allowing people interested in franchising to get a great overview of the industry, as well as being able to make contact and learn more information about franchise systems that spark their interest.

As I mentioned, these franchise expo’s provide an array of benefits for both the franchiser and potential franchisees. Let’s take a look at what some of them might be.

Franchise Expo Benefits For A Franchiser

As a business that’s growth strategy is through selling franchises, a franchiser is constantly looking for new leads of people interested in running a franchise in their industry. A expo is a fantastic way to have thousands of potential franchisees gain exposure to your business system.

Not only does it allow quantity of interest to increase, but it also allows you to spend time discussing the benefits of your business to these potential franchisee’s, on a face to face basis.The internet and magazines can definately be a great way to generate new business leads but people like knowing that they are talking to a real person

Franchise Expo Benefits For A Franchisee

Visiting an expo on franchising is like visiting a supermarket, it allows you to see all the different product types – as well as compare similar products from different companies.

The fact is, that if you are interested in a starting a business in a certain industry and you have heard (or know) about a company that has a franchised business in that industry, chances are there will be quite a few similar businesses all with different franchise costs. Now if you only know about that one company, do you think that you will be sure to select the right business for your needs?

At a franchise expo, you are able to walk through rows of stalls, lined with countless franchise opportunities. Now, the majority will most likely not suit your needs, but I am sure there will be a selection that will. And being there to discuss with the companies in person allows you to gain a better understand of the systems – plus it allows you to meet the people that could potentially be helping grow your new business.

If you have ever been to an expo before, you will know that they always have a selection of free seminars. This is a fantastic opportunity to hear about aspects of franchising that you may not have know about before. The seminars, usually run by experts in different aspects of franchising, will provide you will tips on topics such as: Is franchising the right business model for you, franchise loans – borrowing to start your business, and financing your franchise.

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As you can see, a franchise expo has many benefits for both franchisers and franchisees. So if you are looking at growingy your business through franchising or you are interested in purchasing one, then make sure you visit the next franchise expo in your area.

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Franchise Costs Explained

There are five separate costs that you will need to consider when looking into the purchase of a franchise. Here is a list of these costs with a short description to help you gain a better overview of franchise costs.

1. Initial Franchise Fee

   Every franchise has it’s own initial franchise fee.Ranging from about $10,000 (for home based and internet franchises) up to over $1 million ( franchise, franchise and other famous fast food franchises), this initial franchise cost covers support, initial training and management, very much similar to the purchase price of an existing business. But there is no need to get to worried about having the full initial franchise fee upfront as many different payment options are usually made available to potential franchisees.

2. Setup/Build Costs

   Not the initial franchise costs are only for the setup of the business systems that make the franchise unique. They do not include the capital required to set up a shop front and purchase the required office machines. You will need to budget this into your franchise costs analysis.

3. Legal Fees

   Franchises have lengthy procedure manuals and contracts, much to complex for the average person. To complete the purchase of your desired franchise you will need to employ the services of a qualified solicitor that has experience with franchise contracts.

4. Ongoing Royalty Fees

   This is the fee that most people seem to forget. When you purchase a franchise, you are really purchasing a license to use a companies brand and systems. This requires the payment of a recurring fee to be added to your franchise cost list, being made payable to the franchiser for the continual use of their systems.

5. Running Capital

   The most forgotten franchise cost when people do their analysis is running capital. While you do not have to pay this out to anyone all at once, having a cash reserve is important as it provides cash flow as your business is still getting off the ground. This figure will be determined based on your own personal needs.

In purchasing a franchise, you are buying a proven business model and you will pay a premium. However, this does not mean that you shouldn’t purchase a franchise. Now that you know the franchise costs, you are well equipped to complete the required analysis on any franchises that you are interested in.

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