For entrepreneurs, starting a new business can be daunting. The high level of uncertainty and risk that attend any start-up venture are reasons enough why many entrepreneurs choose to buy business franchises, instead. With a business already established in its place, and a wide base of consumers firmly loyal to the brand, it would seem you would have started midway in the race, with the bulk of start-up work, such as marketing, already accomplished long before.
Opening up a new franchise for a reputable smoothies business such as Juice Zone, will compel you to commit all of yourself in terms of time, physical labor, and research. You have to know everything about the business itself and the overall industry to which the business belongs, as well as the financial and legal obligations that the franchise entails.
According to the International Franchise Association (IFA), in an article in Forbes.com, there is a trend that can be defined as “ the internationalization of franchising,” whereby the “emergence of women and minorities in franchising” has somewhat broken the “traditional obstacles, . . .[such as] a lack of business experience and capital,” but for which they have made up in the use of technology, such as the Internet, to market their products and services, and to communicate faster and more efficiently.
The article also reports the IFA’s 3rd Quarter Franchise Forecast for 2013, which highlighted a significant increase in employment rates in the franchise sector, and “new jobs in industries, such as business and personal services, restaurants, automobile, education and manufacturing.” Furthermore, at the rate that the franchise sector is currently growing, the forecast expects the industry to continue on its upward course towards the end of the year.
Trends come and go, and though franchising growth is predicted, it is almost impossible to say if the trend for franchising will flourish as significantly as it did in the past year. Contributing factors could turn the tide, among them, the shifting economic landscape on a national and international scale, the shifting demographics, and the fickle fads occurring within each of these demographic groups.
If you wish to buy a franchise of a juice bar, kiosk, or lounge from Juice Zone, keep in mind that franchising doesn’t guarantee a risk-free business venture. Every endeavor into which you enter has its risks, but with a good grasp of the current and future trends in the industry, you can contribute reasonably to the ultimate success of your business.
(Article Excerpt and Image From The Biggest Trends in Franchising, Forbes.com, October 31, 2013)