Driving around your city today, you see franchise business opportunities everywhere in a variety of industries. According to the International Franchise Association (IFA), there are 780,000 franchise establishments in over 300 different business categories. Given this level of activity, how can you possibly find the right franchise for you?
You might start at the IFA website, which lists a few business categories that should continue to grow. Most are service-related fields such as:
- Home repair and remodeling
- Maintenance and cleaning services
- Business support services
- Personnel and temporary help services
- Automotive repairs and services
- Environmental services
- Kids hair salons
- Children’s services
- Educational products and services
- Health aids and services
Think about what you are interested in and what your budget is. If you have a passion for a particular area or type of service, then this is a wonderful place to start looking. You want to enjoy your business, so find something you like. Then, determine how much you are willing to invest in both time and money. You need to have this clearly defined so that you are not steered into a business that does not fit your expectations.
The IFA lists a few things to consider before investing in any franchise, which include:
- What specific experience you may need
- The time commitment needed to run the business
- The experience, knowledge, and integrity of the corporate company
- The financial condition of the corporate company
- The success and failure rates of franchisees
- All financial commitments
- Dispute and termination conditions
Interview people from the franchisor company, current and prior franchise owners, and customers. Speaking with people in and around the business will give you insights that no market report can.
Spend time on the IFA website learning everything you can. This site has a lot of resources. Also, visit the Small Business Administration and the Better Business Bureau websites. These organizations have valuable information that can help you make a good decision. Run everything by your lawyer and your accountant before you commit.
There are many franchise business opportunities today. Find the right one to ensure your success
Look for a legitimate, solid and supportive company in a growing industry that has products or services that are in demand. We can help you find the right franchise business opportunity, so contact our franchise experts today.
About Pigtails & Crewcuts
Founded in 2004 in Atlanta, Georgia, Pigtails & Crewcuts is a children’s hair salon franchise dedicated to making haircuts fun and stress-free for children and their parents. With nearly 50 locations across the nation, Pigtails & Crewcuts specializes in quality haircuts for boys and girls of all ages, and also hosts children’s parties. In 2010, Parents.com named Pigtails & Crewcuts one of the Top 10 Chains for Kids’ Birthday Parties. In addition, Pigtails & Crewcuts has been named to the “Franchise 500” list as a top franchise by Entrepreneur Magazine for five consecutive years. To learn more, go to pigtailsandcrewcutsfranchise.com
Michelle Holliman, Vice President of Franchise Development, 877.752.6800, MHolliman@pigtailsandcrewcuts.com