One of the main advantages to purchasing existing franchises for sale is that the franchise owner has an invested interest in your success. The company that is selling the new franchise opportunity will prosper when you succeed, so they will help you with a business plan and marketing suggestions. You will also profit from adopting their established and respected name, which is likely to come with a built-in customer base.

When you are dedicated to making the most of franchise opportunities, you must do everything possible to market your business effectively. It is up to you as a business owner to actively promote your company and services to bring in new customers on a regular basis. There are many things you can do to accomplish this goal:

1. Hire seasoned professionals who can devise a specific marketing plan for your business franchise.

2. Send direct mail postcards to advertise your business when you open a franchise.

3. Work with direct mail marketers who know how to advertise your franchise opportunity.

Action Steps
The best contacts and resources to help you get it done

Hire an advertising agency to promote your small business franchise opportunities

When you purchase one or more franchising opportunities you can get help advertising your companies from a full-service ad agency. They will examine what your business has to offer and what your target customer base is. Once they have established the key group to market to, they will devise a plan to reach them and make sure they are aware of who you are and what you have to offer. They can put together campaigns for print ads, television and radio spots, email blasts, trade advertising and other methods to let people know about your business.

I recommend: Work with the professionals at Ogilvy & Mather Worldwide, DMC Advertising or The James Group.

Promote your business franchise opportunity with help from a direct mail company

Direct marketing involves promoting your business to people at a place where they are sure to see it -- their own homes. This involves postcards, door hangers, envelope mailers and any type of advertisement that goes directly to where the consumer lives. The direct marketers will put together a list of people to send your advertisements to based on demographics, salary range, gender, new home owners or any other specific group you want to reach. Many direct marketers will also provide telemarketing and business-to-business services to make sure you have a fully rounded marketing plan.

I recommend: Get help advertising your business opportunities from Meter-Made Marketing, Prestige Marketing Group or Mothers of Invention.

Mail postcards to promote your small business franchise opportunity

People who purchase franchise opportunities may not have enough capital to hire an agency to help them advertise the new business. Many small business owners choose to create their own postcard advertisements and have them printed and mailed by a company that can help target their potential client base. This service is less expensive than working with an agency and is a great way to promote your small business franchise opportunity.

I recommend: Find printing and mailing services from PrintPlace, Peter The Printer or QuantumDigital.

Tips & Tactics

Helpful advice for making the most of this Guide

• •  Advertise in local newspapers and other publications to reach your community.
• •  Making the most of franchise opportunities involves networking and meeting other business professionals to establish a mutually beneficial working relationship. One of the best ways to do this is to join the local Chamber of Commerce.
• •  Always give your customers the best experience possible. Word of mouth is always one of the top methods of promoting any business.

Looking for a franchise business opportunity? How do you find the best franchise to buy, now? For help with how to buy a franchise, the best franchise to buy, and the hottest franchise opportunities, concepts and trends right now, you’ve found the right place.

Today’s franchise opportunities are making it easier than ever to make the dream of business ownership come true. Almost 900 new franchise opportunity concepts have launched in the last three years alone, and you can now select a franchise business opportunity in 75 different industries. Two trends you should know about:

1. The age of the “semi-absentee” franchise owner is here. Running a franchise as a side business is hot. With new tech to track store activity online in real time, absentee owners can have a franchise business that doesn’t tie them down.
2. More franchise opportunities are low-cost and low-overhead. You can buy a franchise and run it from home or with relatively few employees or inventory. With nearly 800,000 franchises to choose from, there’s something for everyone.

Business.com's "What Works for Business" blog is a great way to keep up with the latest solutions, trends and strategies for small and medium business — including new franchise business opportunities.

Action Steps
The best contacts and resources to help you get it done

Enlist a free consultant to help you find the best franchise opportunity fit.

Working with a franchise consultant is a little like working with a real estate agent to buy a house.

I recommend: FranNet, for example, is the largest network of franchise consultants in the U.S., and their services are free to you. Their consultants help you learn about the many choices available and select and finance the right one for you. iFranchise Group is a consulting firm that can help you evaluate your readiness to buy a franchise and sort through franchise options and potential sources of financing. Franchise Genius is a great new website that has top franchise opportunities for sale along with objective comparisons, an evaluation system and lots of other helpful information and "Genius Tips" for making the best franchise choice.

Pursue your franchise passion

If you are considering a franchise, you'll want to immerse yourself in the franchise world to see if it's a good fit for you.

I recommend: The Franchise Center at AllBusiness.com -- a D&B-owned site -- is an excellent place to get grounded in franchising. You'll find thousands of articles, videos, podcasts, and blogs on buying or growing a franchise. There's also a handy franchise directory that lists over 700 franchise systems with key data important to your franchise purchase, such as system size, costs, years in business, years franchising, company data from Hoovers, financing information, etc., plus a ranking of the top 300 franchise systems.

HOT FRANCHISE CONCEPT: Staffing and business services

This is one of the fastest growing franchise categories in America. Franchises in this area help small businesses find and recruit talent, and outsource everything they need to grow and operate, from signage to IT services.

I recommend: See the staffing franchise directory at Franchise Gator.

HOT FRANCHISE CONCEPT: Niche gyms

Specialized fitness centers for kids, teens, seniors, women and even 24/7 gyms are big. These gyms do not target the general population.

I recommend: Rather, they focus on one group, like people who prefer to exercise when most gyms are closed, and then build their facility and services around this demographic. Check the directory of health and fitness franchise opportunities.

HOT FRANCHISE CONCEPT: Non-medical healthcare

As everyone knows, the U.S. population is aging. Fast. The percent of population over 65 will jump from under 13 percent today to almost 20 percent by 2030.

I recommend: Many older people want to remain in their home as long as they can, and several franchise concepts help them do this. In-home personal care is in demand, and growing. You can browse hundreds of franchise opportunities online at places like Franchise.com, FranchiseSolutions.com and Bison.com. You’ll also find helpful information and a directory of franchises at the International Franchise Association (IFA).

HOT FRANCHISE CONCEPT: Education and tutoring

This is another franchise concept growing exponentially as schools become more competitive. Whether its online tutoring, subject specific, or even for the youngest crop of pre-schoolers, parents are willing to plunk down big bucks to ensure their kids have an extra edge.

I recommend: Some tutoring franchises are even being hired by established schools to provide tutoring services if their programs don’t meet performance standards. Franchise Advantage lists education and tutoring franchise business opportunities.

Check initial investment requirements by franchising sector

Each industry and sub-sector has a widely different set of initial expenses that make up the investment requirements based on their business model.

I recommend: An International Franchise Association (IFA) “Special Report” on initial investments required to purchase a franchise offers an excellent overview of franchise buy-in costs. Check a handy comparison chart of initial purchase fees by franchise category. IFA operates an ongoing series of franchise expos for people considering a franchise (check the site for dates and locations).

Tips & Tactics

Helpful advice for making the most of this Guide

• •  Cost estimates usually do not include real estate purchases because most franchises do not require you to own commercial property. Included in the estimates, however, are expenses for unit build-out and construction, as well as initial inventory costs.
• •  The franchisor may require that your personal net worth meet a minimum requirement and that you have funds available to tap for working capital other than your initial cash investment.
• •  You may also need to pay for legal services, business and health insurance, employee salaries and benefits, operating licenses, equipment, store fixtures, signs and other items.
• •  Your ongoing costs will likely include a fee or royalty to the franchisor based on a percent of your revenue - usually in the 3 to 7 percent range.
• •  You may also be required to pay into an advertising fund. Some of the money may be used to attract business locally for you, but some may also go to national advertising or to attract new franchise owners.

Franchise opportunities are a great way to get involved in the business world. When you purchase an existing franchise for sale instead of starting a new company, you will receive several benefits such as an established company name, a successful business plan, vendors that are willing to work with you and ongoing support from the corporation that established the business franchise.

Securing a franchise allows you to start a business without doing all the ground work and gives you the advantage of learning from the business owners' experience. There are many questions you must ask yourself before investing in any business opportunities, including:

1. Which industry do you wish to get involved with?

2. Where do you want to open a franchise?

3. Will you need to hire and train any employees for the new franchise opportunity?

4. How hands-on will the franchise opportunity owner be with you after you make the investment?

5. Are you willing to conform to all the rules and guidelines the franchiser dictates?

Action Steps
The best contacts and resources to help you get it done

Hire a consultant to explain franchise opportunities basics

Franchise consultants can explain all the pros and cons to purchasing a business franchise. They will guide you to finding the right type of franchise, assist you in understanding any documents you must sign and lead you through the entire buying process.

I recommend: Get help from FranNet or the Bibby Group.

Work with a lawyer to guide you through the process of investing in business franchise opportunities

Franchise lawyers will help you understand the contract you must sign with the franchise owner and explain all the legal obligations you will have. They will also help with any negotiations, arbitration or litigation that may become necessary. Look to them for guidance with every legal related matter.

I recommend: Receive advice and help from the franchise law experts at the Law Offices of Nancy L. Lanard or the Franchise Law Team.

Receive a loan to secure a small business franchise opportunity

Individuals who wish to borrow money to buy franchising opportunities can turn to lenders that specialize in funding potential franchisees.

I recommend: Get the loan you need from FranchiseLoans or FranchiseBusinessLoan.

Confer with an accountant before purchasing any franchises for sale

Certified public accountants will investigate the financial history of any small business franchise opportunities you are considering, explain the expenses involved and help you understand your long-term earning potential.

I recommend: An accountant from TheAccountingPlanet will help you understand the financial aspects of a small business franchise opportunity. AccountantsWorld will help you find an accountant in your area.

Discover your own new franchise opportunity

f you wish to locate and purchase a franchise on your own, you will need to know if your state has any franchise or business opportunity laws. Next, you will need to find the franchise opportunity. There are hundreds of franchises available in every industry. Franchise owners will guide you through all the basics in making the purchase. Be certain to ask the franchise owner any relevant questions before you begin the transaction. It is important to know how well their business is doing financially, how many branches they have open, what type of marketing support they provide, how many specific guidelines they will expect you to conform to and anything else that will affect your new business.

I recommend: Find out which states have business opportunity laws from the Federal Trade Commission. Check out a list of available franchises from Red Hot Franchises, Franchise Direct or Microsoft's Franchise Gator.

Tips & Tactics

Helpful advice for making the most of this Guide

• •  Talk to the Better Business Bureau to make sure the owners of any franchises you are interested in have a clean record.

Joining a successful franchising business is the most reliable way to open your own business. Purchasing someone’s operating franchise allows you to skip over the start-up phase when profits are usually very scarce. In addition, franchise companies usually provide extensive training and support to help their franchisees succeed. Taking the franchise route also makes it easier to obtain money from banks and other lenders. These organizations are more apt to offer a loan when a proven business formula is already in place. Knowing franchise and franchise opportunities terminology is a huge part of the learning process of running a business.

Action Steps
The best contacts and resources to help you get it done

Franchise business plan

The franchise business plan is an outline of the company's goals and objectives and how they will be implemented to achieve business success. The plan is often designed to solicit funds from banks and other investors.

I recommend: Inc explains the difference between a franchise business plan and a traditional business plan. Visit TLManage to learn more about the franchise business plan and how to write one.

Franchise relations

Franchise relations refers to the relationship between the franchisor (individuals leasing the business) and the franchisee (individual or individuals purchasing the business.)

I recommend: Visit FranchiseKnowHow for a better understanding of franchise relations.

Franchise mediation

Franchise mediation is a procedure that uses a neutral mediator chosen by all parties to help them reach an agreement. Franchisers and franchisees who seek to settle their disagreements via franchise mediation are usually both satisfied with the outcome of events. Franchise mediation also helps eliminate lengthy and costly court battles.

I recommend: Learn more about franchise mediation and its advantages at BNET.

Franchise financing

Franchise financing is the process of gathering funds for franchise investing. In the United States, this process falls into three basic categories: SBA (Small Business Administration) loans, non SBA and Specialty Franchise Financing and franchise company financing.

I recommend: Franchise start-up costs vary from business to business, but there are options available for franchise financing. Visit Businessfinance.com for an explanation of the different funding options. Entrepreneur expounds upon the four necessary principles for obtaining franchise financing.

Franchise evaluation

Some franchisors require franchise evaluations to make sure you are capable of owning a franchise. There are many areas that prospective business owners should be familiar with and a good understanding of business and financing is pertinent. Franchisors require franchise evaluations to help determine your knowledge of these topics. They may also use these evaluations to help match talents, skills and strengths of prospective owners.

I recommend: Visit FranGuides for a better understanding of the franchise evaluation process. Perfect Business offers a checklist of franchise evaluation criteria.

Branding

Branding is the business strategy of identifying yourself and making your products or services known to potential clients as the best ones available to meet their business needs. Branding and franchising go hand in hand, as franchising is one of the easiest ways to build brand name recognition and a strong brand name will, ultimately, help with the success of the franchising company.

I recommend: Get a better understanding of branding by visiting Brand Identity Guru.