This is the most important stage of starting your own Low Cost Franchise, finding out which franchise suits you and what you are going to enjoy doing. There are a lot of different Franchise options available to you and the options can be overwhelming. There are thousands of franchises on the market each in different sectors and markets and each with a variety of costs involved. They all have their own advantages and disadvantages but the thought is the more you spend the greater for possible earnings.

I will try and set out a few things to be taken into account when selecting the best Franchise For Sale. You will get a gut feeling about a certain sector and this is usually something you have experience in or have an interest about but don’t let this rule, also use your head. The most important thing is always ask for advice from your family, your accountant, experts in the sector and any other resource that will help you choose the best Franchise Opportunity.

Another key point is to ask yourself what do you want out of the franchise? Do you want to take control of your own income, be your own boss and work from home? Then this will restrict your search to home-based franchises. Another key tip that will decide what franchise you will buy is whether you go for a low cost franchise option or higher priced option, basically how much money are you able to spend? Some of the high-end franchise opportunities that involve a higher investment include property investments, fast food chains and the vehicle trade, these involve asset purchases and staff to employ. So if you have a restricted investment take a look at other sectors such as the Internet, decorating and consultancy, these options will have lower initial investment but could still be profitable.

The next important stage in deciding the best Franchise Opportunity for you is your experience. What industry or sector have you worked in formerly, what do you enjoy doing? And are you good at it? You might want a complete change as you may have worked in a particular sector for a lot of years and have become sick of the sector and want to try your hand to something different. Some franchises look for people with a particular skill and expertise, while other franchises tutor their potential clients from a trainee standard. As I have mentioned there are a huge array of Franchise For Sale options from computing to cleaning but if you are skilled in theses industries then use this a basis for choosing your best Franchise Opportunity.

The concluding major stage is what are your aims for the Low Cost Franchise? Is this a long-term option and you see yourself operating the business for many years or do you see just setting it up and then selling it on to another investor? A short-term franchise option may be Internet based, decorating or cleaning but if you are looking long-term then a fast food chain, fitness centre or a vehicle garage may be better suited.

The conclusion is that to make a success of your franchise is too match it with your interests and decide on something that you are passionate about, as this will contribute to the franchise being a success.

If the belief of setting up your own business appeals to you, being your own boss, setting your own hours and so on, then the selection of buying a Franchise is one of the finest options you can take. The appeal of franchises are plain for all to see, they offer an instant brand name, a demonstrated operating system with years of experience and a support arrangement to help your new business. But not everything is as easy as you think when setting up and operating a Low Cost Franchise. Especially now, there is always the risk of a Franchise failing and you should always look at the negatives when starting up any business. The rate of failure for franchises depends on the sector and the brand you select, but here are a few indications that add to Franchise failure.

An ineffective Franchise partner
The base for creating a successful Franchise is to offer the public something that they want and need, such as a product or service. The public must have a trust in the brand they are dealing with and that will consequently keep the customer coming back time and time again. A Franchise failure happens because the public are not attracted in your product or service or have a negative attitude towards the brand. If the Franchise partner is not giving this level of service then this will influence your business.

Competition
A Franchise Opportunity may come with an exclusivity agreement, which usually means that no one else in your locale is able to find a Franchise For Sale from the same Franchise partner. You have to pose yourself the question, how many fast food places does one locale need? Is there enough catering opportunities in the locale? How many people in my locale need a cleaner? The agreement for your exclusivity to the locale will not stop competition, if the locale is small, an established business may start offering your service and take your customers away from you.

Location
Can your Franchise be found? Whether it be on the high street or on the internet, if no one knows it’s there than you will not succeed to attract customers. The best products and services in the world can’t be sold if the buyer does not know where to find them. Usually the more centre to town that your shop or business is located then the more cost it will be to you. Most Franchise partners spend a lot of time and money ensuring that their location maximises their opportunities, but some franchises are forced to taking minor locations because of the cost involved. In regards to an online business, 90% of users find companies through search engines so if you don’t place high on Google for your elected product or service then some optimisation of your website has to happen. This can be a costly medium on top of the initial website, but it will be worth the additional cost.

Marketing
A Franchise For Sale may be advertised in your local or national papers, websites and publications but once your Franchise is established where will it be advertised? A Franchise Opportunity may include campaigns in your local area but most of the advertising and marketing is left up to the Franchise partner. Although the brand may be well indentified that doesn’t mean that you will automatically get consumers or have an income like other established franchises. If your Franchise is not supported in the correct way, and to your target audience, then your franchise may fail as people will overlook your product or service.