Armen Nazarian Business Brokers has been offering business franchising opportunities since 1988. For decades, we have been helping people with our buy or sell business services across Michigan. Our years in the industry help us understand what owners need to thrive in their businesses. Learn more about franchise opportunities from Michigan’s most trusted business brokers.
What Is a Franchise?
Franchises are types of licenses that a party (franchisee) acquires to allow them to have access to a business’s (franchisor) proprietary knowledge, processes, and trademarks to sell products or services under the brand’s name. As a franchise owner, you can tap into an established business model known for exceptional customer service, with ongoing support from an existing customer base, a proven operating system, and brand recognition.
What Are the Different Types of Franchise Opportunities?
Different types of franchises include:
- Automotive Services: Small businesses in this industry that offer oil changes, brake services, or auto repairs.
- Cleaning and Maintenance: Small business owners can offer dry cleaning, pressure washing, janitorial services, and residential and commercial cleaning services.
- Food and Beverage: A fast food restaurant, casual restaurant, pizzeria, or deli is among the most profitable franchises.
- Health and Fitness: Anytime fitness is related to an established brand, it can bring in a good crowd. A pharmacy is also a successful operation in this industry.
- Home Services: Top franchises include those that offer painting, flooring, and moving services.
- Retail: Retail franchises can offer clothing, sports equipment, pet supplies, and home goods, just to name a few.
How To Buy a Franchise Business
Buying a franchise requires franchise fees as an initial investment. These start-up costs can range between a few thousand dollars and up to $100,000. It depends on the company if it is a new business or a well-known great franchise. A potential franchisee must do their due diligence when buying a franchise to confirm that a franchise investment is a good idea.
The best way to research is to read the Franchise Disclosure Document (FDD). This document contains important information about the franchisor, the franchise agreement, the franchise fee, and the franchise system. It will also include the franchisor’s contact information.
After reading the FDD, reach out to the franchisor with any questions you may have. If you are satisfied with the answers, you can begin the process of buying one franchise unit or multiple units. This process includes submitting a Franchise Application, going through a background check, and signing the Franchise Agreement.
Is a Franchise Profitable?
Prospective franchisees should always conduct market analysis to ensure that the franchisor is in demand in the area where they plan to open their business opportunity. Otherwise, the franchise may not be profitable. Once you have a good idea of what customers expect, you can employ marketing materials to boost your profitability.
Armen Nazarian Business Brokers can help you buy or sell franchises in Michigan. With over 30 years of experience, we are the state’s most trusted business brokers. Learn more about your franchise opportunities today.
Ready To Become Franchise Owners? Call Us Today
Are you ready to become your own boss by purchasing your own business? Perhaps you’re moving on to a new stage in life, so you must sell your current business. Either way, Armen Nazarian Business Brokers is here to fulfill your goals! We can point you to the best franchises for sale and help you sell your small business at the best possible price.
With our years of experience in the franchise industry, you can count on us to simplify the process of buying or selling a business. Reach out to us today so we can get started on finding the right franchise opportunity or buyer for your business. Call now for a free business evaluation!