In this article I cover the most frequently asked question about the franchise industry, the opportunity costs, and my responses to the question posed.
Question: What is franchising?
Answer: Franchising is where you buy the rights to a business concept, trademarks & know how. In return you pay a franchise fee and a percentage of your profits.
Question: What is a franchise?
Answer: A franchise is, in its simplest terms, an agreement between the franchisor and the franchisee, whereby the franchisee has the rights to use the logos and trademarks of the franchisor and the ability to market the franchisors products. Both parties commit to a legal agreement which protects both their interests. The franchisee usually pays an initial franchise fee and ongoing royalty payments.
Question: Is it better to buy a franchise opportunity or start my own business?
Answer: Based on the surveys carried out by the US Department of Commerce & NatWest/BFA, the majority of franchisees are still trading profitably after five years. Everyone knows that the majority of people who start out in business on their own, I am sad to say, end up failing within the first three years. When you buy a franchise business, in return for a franchise fee, you receive training and ongoing support. You also benefit from the knowledge that the franchisor has picked up over many years.
Question: How much does a franchise business cost?
Answer: There are no fixed prices for a franchise opportunity. Depending on your budget there are franchises to suit most people ranging from only a few thousand, to over a million.
Question: What's the first step to buying a franchisee?
Answer: Do a search on the internet for the following: "franchise", "business franchise" & "franchise opportunity". You will find a wealth of material on the internet. You can also buy magazines that specialise in franchises and of course, you should attend franchise exhibitions where you can meet the franchisors or their agents and ask questions. At the exhibitions, in some cases you will also be able to touch and feel the products that form the cornerstone of the franchise!
Question: How do I raise the funds required to buy the franchise?
Answer: Most banks have special units set up to help potential franchisees. In many cases the franchisor has done the hard work for you and arranged special terms with lending institutions.
Question: Which franchise is right for me?
Answer: The best franchise for you is not necessarily the business that makes the most money! Buy a franchise which suits your lifestyle and is interesting to you. If you like the products that you are marketing, then you are much more likely to enjoy your work!
Question: Can I sell my business when I want to move on?
Answer: If your franchise business is trading profitably, then you should be able to sell it like any other business. Your franchise agreement will go into detail regarding the processes that are involved in selling the business. Unfortunately, if your business is not making a profit, then it will be difficult to find a buyer.
Finally, always take legal advice before signing any franchise agreement. Your lawyer has to ensure that the agreement is fair for both parties. Your accountant will help in evaluating the profit potential of the franchise opportunity.
Naz Daud is the founder of CityLocal. This Business Franchise Opportunity is for people who would like to work from home and be their own boss.
Business Franchises and UK Business Directory
Business Franchise Opportunity
Ireland Business Directory & Franchise Opportunity


Business & Opportunity Cost
Opportunity may be seen as the existence of a situation whereby it presents itself to an individual or group of individuals to profit in someway by pursuing it in a certain manner. The results may yield a favourable outcome for the pursuer(s) but the reason only a small amount of opportunity is exploited to present its rewards is that along with most opportunity comes an element of risk.
It is almost possible to show this graphically illustrating the greater the potential, the greater the risk, e.g. A small business owner contemplates opening a bistro bar in a shopping centre with a potential yield of $100 000 per annum, risking $250 000 whereas Donald Trump may risk $100m on a new golf course development, with a potential yield of $10m per annum
Hence, in the world of business, the universal search is for opportunity! There is plenty out there so what stops us from taking it? As has been well documented throughout the years, people have vastly different attitudes to risk, thus by definition, vastly different attitudes towards opportunity. As a result many of these great opportunities are passed by in favour of security whereby the individual(s) dismiss the opportunity and move on? What governs this thought process?
We constantly are told through various mediums not to miss out on this opportunity - by simple reasoning and the law of numbers - a great ally if one wishes to use it correctly -
EVERY OPPORTUNITY CANNOT BE FLAWED! Therefore by failing to at least examine each opportunity is a gross mis-service to our experience in this life.
What many of us fail to realise is that we are economists constantly involved in decisions and choice under the constraint of limited resources - great to have the opportunity to examine an opportunity but held back by a famous, or infamous, economic concept- opportunity choice.
Opportunity Cost may be defined as the cost of choice, when output, time and money are limited. On a practical everyday level one may fail to even examine an opportunity, or examine an opportunity, but look at what this will cost to undertake.
This is where our thought processes enter the debate. Aside from the natural character of the individual(s) involved; this may involve how we are taught to think from a young age. Are we bombarded by positive or negative thoughts and statements from a young age?
Do we really believe that we will live forever and can take the assets that may be involved in an opportunity or have been accumulated over time with us? If we are lucky enough to have an opportunity it probably means we have been given an opportunity already. Circumstances, freedom from war, starvation or the basic need to devote every hour to survival- is it then correct, for us, even morally, to fail to examine an opportunity?
Luckily, we have tools with which to examine opportunity. The ability to do our homework, freedom to access any amount of information to aid us in our evaluation, the law of numbers and the aforementioned favourable circumstances.
In American we produce great opportunity takers. Is this conditioning? We are certainly no cleverer than any other country's populace! We merely do our homework and apply the basics to each opportunity presented more than any other people.
The underlying message must be to at least examine every opportunity using the basics, irrespective of the final decision, producing a circular process:
Circumstances enable Opportunity. This gives us a chance to do our Homework. The Law of Numbers dictates that at least one Opportunity will work. The Opportunity Cost will help us make a Decision.
This method of Opportunity Seeking cannot fail to produce results; whether or not they produce the desired results, one at least owes it to themselves and those not fortunate enough to have opportunity, to examine it properly.
Naz Daud is the founder of CityLocal Franchise Opportunity. This business franchise is for people who would like to work from home and be their own boss
Business Franchise Opportunity
Ireland Business Directory & Franchise Opportunity
Franchise Business Opportunity


Birthday Celebrations of Boss and Colleagues
One fine morning you get into the office and all of a sudden the colleagues and boss, who give blunt look at you everyday are smiling. The receptionist welcomes you with gratitude and you suddenly start feeling that you are entering into Eden Garden of heaven as the king of the sovereign place. The office is well decorated with flowers that you like and everywhere there is a friendly tone, when people talk and the overwhelming gestures through hugging you is taking you to the paradise....I can go on saying long but you should get the hint at the very beginning. Yes, buddy, you are the rock star, you are the king for the day...because its your birthday.
When it comes to the birthdays of the colleagues and bosses at office, one should remember that this is one of the rarest opportunity to impress them. If it is a birthday of the man who works under you and you are seeing that this person lacks enthusiasm to work more and have no urge to follow your instructions, you might have taken a hand with him, you might be very much disgusted with the gestures he possess, but do not leave the chance to wish him a on his birthday. Sometimes when while wishing people forget previous angst and worries. It might help to either rejuvenate the relationships by breaking the ice and at the same time it helps to get back the confidence, optimism and peace of mind.
After all wishing somebody a very happy birthday denotes that the person has some importance in some spheres of life and it also reminds the person that the world is so beautiful that he has got such good friends and colleagues that they do not forget your birthday. Your boss may be harsh at you while making mistakes or not been able to achieve targets that you are alloted, but if they are celebrating your birthday during the lunch break or at the last hours of your work schedule, it should mean a lot. There is no doubt that now a days you lose a minute means you lose a business deal, your competitors have crossed you. So in the corporate world or any kind of business or other institutions work hours are utilized as fullest as it can be. If your bosses and colleagues are taking out their busy times for celebrating your birthdays so it means you are really special for them and worth a lot in your work sphere. If your boss is giving you a party or a free treat in order to celebrate your birthday then he or she is immensely happy with your job. Possibilities of promotions and increments may soon knock at your door.
Getting gifts and lots of wishes, being overloaded with kisses and warm hugs, pampered very much and receiving wishes from your competitors are real joys in life. Celebrating your birthdays with your bosses, colleagues do not always mean that this is the last happiest day of your life and from tomorrow onwards you will be having a great thrush from them. But celebrating your birthday along with them is a great fun. People who possess a grave misconception in their minds thinking that their bosses and colleagues are utterly frustrated and jealous over them and do not have anything else to do in their lives , this will be a good time to review their feelings and correct the misconceptions.
Birthday celebrations in office requires some arrangements. They need buffet lunches, colorful ribbons and papers, posters with smilies and glitters to decorate the boring walls and other furnitures. The surroundings might be colored with the favorite colors of the birthday boy or girl. There should be favorite flowers above the desk of the birthday boy or girl. And most importantly, there should be a very delicious huge cake over which the name of the birthday boy or girl has to be written and that has to be there along with candles and a knife of course tagged with a ribbon. The gift should be bought as according to the personal choice of the birthday boy or girl. There will be a party in one of the busiest day and the venue will be your office and trust me this birthday party will be a great fun and an unforgettable one.
Michael Ringwood writes on Online Marketing, Social networking and is an expert on the Greeting card Industry having worked with several Ecard companies .He also contributes regularly on social media blogs and web2.0 marketing forums . He Runs his own Blogs at Comments for MySpace ,MySpace Birthday
Comments and Birthday Greeting Cards and Ecards