The business world has changed tremendously over the past few decades, particularly with regard to the types of businesses people are opening. If you’re like many people, you’ve at least considered starting your own business. One of the main questions that you might have, though, is what type of business you should start. Here are a few reasons you should consider investing in the franchise opportunity at Great American Cookies.
The Franchise Model
There are two types of franchise models: business format franchising and product distribution franchising. The business format franchising type is probably the most well-known of the two franchise models.
In general, the franchise model is a type of business that is based on a licensing agreement between the franchisor, which is the company that provides the license, and the franchisee, who is allowed to operate the franchise business with a licensing agreement.
Business Format Franchising
The business format franchising model involves using the franchisor’s trademark, trade name, products, services, and overall business system to operate the business.
In addition, the franchisee generally receives assistance from the franchisor concerning franchise needs such as:
- Operating manuals
- Quality control
- Brand standards
- Marketing strategy
- Franchise location selection
- Development support
- Business advice support
- Marketing research and analysis
- Employee operational assistance
Some of the most common franchise types that fall under the business format franchising model include retail food, real estate, education, business services, lodging, automotive, retail products and services, full-service restaurants, and fast food restaurants. This is the paradigm that Great American Cookies follows.
Product Format Franchising
The product format franchising model, which is sometimes referred to as traditional format franchising, is not as well-known as business format franchising. However, the product format franchising model usually produces more overall total sales.
The focal point is not on the business system, but primarily on the products manufactured or supplied by the franchisor. Common franchise types that fall under the product format franchising model include gasoline, bottling, automotive, and other manufacturers.
The decision to make a franchise investment is a huge one. You must consider a variety of factors. One of the main considerations is the amount of money needed for the franchise investment.
The amount needed to invest in a franchise opportunity varies from franchise to franchise. Every franchise is different, and there are numerous variables that contribute to the cost of a particular franchise.
Moreover, some franchise investments are smaller than others. There are many times when a low-cost franchise is a better opportunity.
If you are interested in investing in a franchise opportunity, you should follow these initial steps:
- determine what type of franchise opportunity is the right fit for you;
- research the franchises that fall within the franchise type that you prefer;
- seek assistance from someone who can provide good advice concerning franchise investments; and
- decide if you really want to commit the time, money, and effort required to operate a franchise business.
If you think this sounds like the right investment opportunity for you, contact us at Great American Cookies today!