| Once you've done your research and decided that | | | | headquarters. |
| buying a franchise is the business opportunity for you, | | | | Synergy HomeCare also provides ongoing support to |
| you will, of course, have to select the one in which you | | | | their franchisees in these additional areas: staffing, |
| want to invest. Your choice will undoubtedly be based | | | | marketing, software and intranet. |
| on many criteria, not the least of which is potential for | | | | 1-800-GOT-JUNK? |
| profitability. | | | | This junk removal franchise has grown by over 500 |
| There are many resources available to help a potential | | | | percent in the past three years. This is a young |
| franchisee choose the franchise that is the best fit for | | | | company that is poised to dominate a newly |
| him. | | | | developed niche market. |
| For example, ranks them annually in their Franchise | | | | This company is actively seeking franchisees who will |
| 500 list. judges all companies-regardless of size-on the | | | | adapt well to its "work hard, play hard" corporate |
| same criteria. Objective and quantifiable data are used | | | | culture. Ideal candidates should be aggressive, |
| to assign each company a cumulative score, and the | | | | results-oriented people who are excited about |
| companies earning the highest scores then become | | | | long-term growth and who exhibit strong leadership |
| the Franchise 500 list. | | | | capabilities.i9 Sportsi9 Sports operates youth sports |
| Some of the factors considered include: financial | | | | leagues, camps and after-school programs for children |
| strength and stability, growth rate and size of the | | | | ages 3-14. |
| company, number of years in business as well as | | | | This franchise has a low start-up cost in addition to |
| number of years franchising, start-up costs, litigations, | | | | classroom training and a franchise support coach. |
| percentage of terminations and whether a company | | | | Those in this system enjoy the freedom of dictating |
| provides financing. All of the financial data considered is | | | | their own working schedules because these |
| audited by an independent CPA to ensure accuracy. | | | | businesses are operated directly from their homes. |
| The top ten of this year's Franchise 500 included | | | | Each franchisee is granted an exclusive territory to |
| companies such as The UPS Store/Mail Boxes Etc. | | | | maximize the potential for long-term growth in this |
| This is the largest franchisor of retail shipping, postal | | | | huge market. Organized sports are played by over 100 |
| and business service centers in the world. | | | | million Americans, but many are disappointed in the |
| UPS acquired Mail Boxes Etc., Inc. in 2001, and in 2003 | | | | poorly organized sports programs available to them |
| the two companies introduced The UPS Store. This | | | | locally. This offers a great opportunity to meet a |
| company has enjoyed massive growth that included | | | | community need. |
| 500 new locations in the first year alone. By 2004, the | | | | CertaPro Painters |
| company had over 5,000 locations. The UPS Store | | | | Home services is a $100 billion a year industry, and this |
| Mail Boxes Etc. has been designated as the number | | | | franchise offers you the opportunity to be part of that |
| one franchise opportunity in the postal and business | | | | industry by providing both residential and commercial |
| services category of the Franchise 500 for 16 | | | | customers with full service painting. CertaPro also |
| consecutive years. | | | | offers specialty painting services such as faux finishes. |
| Another ranked list of them is The Franchise 50 | | | | CertaPro has been in business since 1992, and they |
| Awards. This list is compiled by the Franchis Business | | | | offer a comprehensive initial training program. This |
| Review, which is a national market research firm that | | | | company also encourages and facilitates strong |
| conducts independent surveys measuring the | | | | interaction between them through a national |
| satisfaction of franchisees. Since profitability is a major | | | | convention, regional meetings and business planning |
| factor in whether or not you'll be satisfied with them, | | | | groups. |
| The Franchise 50 Awards list is also a good tool to | | | | Matco Tools |
| use in your decision-making process. | | | | This manufactures and distributes professional |
| Included in The Franchise 50 Awards top ten for 2007 | | | | automotive equipment, tools and toolboxes. Their |
| were companies such as FASTSIGNS, Synergy | | | | product catalogue boasts over 13,000 items including |
| HomeCare, 1-800-GOT-JUNK?, i9 Sports and | | | | hand tools, power tools, diagnostics, tool storage, |
| CertaPro Painters. The Franchise Business Review | | | | heavy-duty tools, shop equipment and OEM-specified |
| also ranks these in 16 different industry categories. For | | | | service tools. The product offering is updated on a |
| example, earning top honors in the automotive | | | | continual basis to ensure availability of the latest tools. |
| category was Matco Tools. | | | | This differs from others you may have researched |
| FASTSIGNS | | | | because there are no franchise fees, ongoing royalties |
| This company provides custom signs, graphics, | | | | or advertising fees. Starting the business does not |
| banners, trade show exhibits and vehicle graphics using | | | | require the purchase of expensive real estate, and you |
| the best computer technology available. FASTSIGNS | | | | won't need to hire any employees. |
| boasts nearly 500 locations worldwide, and they are | | | | Matco Tools offers start-up financing through an |
| continuing to grow. The average per store gross sales | | | | in-house department as part of a comprehensive |
| reported in FASTSIGNS' 2006 UFOC was $620,000. | | | | support system that includes: Matco Distributor |
| Synergy HomeCare | | | | Business System (MDBS), Matco Customer Service |
| With more than 34 million people over the age of 65 | | | | Support Team, Matco Distributor Advisory Council |
| currently residing in the U.S., the demand for | | | | (MDAC), national advertising and racing support. |
| non-medical, in-home care is at an all-time high. | | | | Final Comments |
| Synergy HomeCare provides comprehensive training | | | | So, you can see just by this very short list that the |
| for new franchisees to ensure success in this rapidly | | | | possibilities with franchising are virtually limitless. There |
| growing industry. New franchisees in this company are | | | | are many franchises that are consistently |
| each assigned a start-up representative to guide them | | | | outperforming the rest in terms of profitability and |
| through the start-up process. A pre-class workbook is | | | | satisfaction, and you can use the tools discussed in this |
| provided to assist them in completing the research | | | | article to find out which ones they are. |
| necessary to successfully operate in their local areas. | | | | All that's left is for you to decide which franchise is the |
| After this is completed, new ones attend a five-day | | | | best match to your personal business style. |
| training program at Synergy HomeCare's corporate | | | | |