Published On: Tue, Jul 23rd, 2019

How These Low-cost Franchise Opportunities Can Make You Rich Becoming a Successful Entrepreneur is Easier Than You Think

By Anil Kumar

International brands and franchise systems are rapidly expanding to new markets all over the world, making franchising one of the leading business models for aspiring entrepreneurs. While no business is entirely risk-free, franchising is a global success story with a long history of success. Economies from all over the world have benefited from the franchise model, which creates jobs and provides an avenue to entrepreneurship to millions of people. And you could be one of them very soon.

You might be wondering how to re-shape your life in 2019, or maybe it’s just the idea of being your own boss that has pushed you to read this article. Whatever the reason, let’s dig into the key features of a franchise business and what you can gain from taking advantage of international low-cost franchise opportunities.

First of all, what’s the fuss of franchising all about?

Image by rawpixel from Pixabay

Franchising is a method for expanding business and distributing goods and services through a licensing relationship. Franchising offers products and services in over 300 business categories, including food and beverage, lodging, health, and educational services, professional services, auto care, accounting and tax services, real estate, home services, IT services, and retail products.

A franchise business is composed of two main elements, which are personified by the roles of the Franchisor and the Franchisee:

  • The Franchisor licenses the right to operate a franchise business under its trademark. Franchisors specify the products and services that will be offered, provide an operating system, brand, and support;
  • The Franchisee is the person, or the company granted the right to do business under the Franchisor’s trademark. In exchange for that, the Franchisee pays the Franchisor a percentage of his revenue (franchise fees) in return for the right to operate on behalf of their brand;
  • For the franchise fee and royalties that are paid to the Franchisor, the Franchisee receives the right to run under the Franchisor’s marks and use its business system, training, support and often additional services such as site evaluations. The agreement between the Franchisor and Franchisee creates a partnership. Franchisors rely on royalties (a percentage of the franchisees’ revenue), so they are invested in the ongoing success of their franchisees.

What’s the link between franchising and becoming a successful entrepreneur?

Franchising has always been associated with the entrepreneurial spirit. The idea of taking an idea and making something with it financially has been a significant selling point of the franchise sector. The allure of starting your own business and making your own work hours has drawn many people to franchising. There are numerous success stories of people with a vision or an idea that have made fortunes in the franchise sector, either by working on their own project or by purchasing a franchise that had already been established. As a significant job creator, franchising has been able to provide opportunities for workers and franchise owners in both developed and developing markets.

Who can benefit the most from a franchise business?

A franchising unit is usually a small business. Although most people associate franchising with big companies, such as McDonald’s, Subway and Hertz, the overwhelming majority of franchise owners are actually small to medium-sized businesses. Most franchise owners only own one unit and employ less than 30 people. Because of the efficiency of the franchise model, most franchisors are also small or mid-sized businesses.

How to select the best franchises to own?

When determining which successful franchises should you rely on, it is essential to analyze selected potential markets and assess important competitiveness factors. The demand within a country must be considered, as well as the types of goods sold. The possible size of the market will vary according to the size of its middle class, consumers’ wants and needs, the total number of domestic households, the demand, and supply of products, as well as the level of development of that country’s economy. Successful franchise concepts can tailor their goods or services to meet the needs of each market. That’s the case of XIMIVOGUE, one of the leading international fast fashion brands and one of the best franchises to own. Their franchisees can rely on a catalog of more than 7000 Korean products, which are updated at a rate of 800 per month. Focusing on providing sustainable and fashionable consumer goods, XIMIVOGUE has invested in high-quality materials and an eye-pleasing design for its products, which include household items, digital accessories, bags and purses, and many more. They really put all their efforts in analyzing and predicting the needs of their customers.

Why is franchising expected to grow?

Franchising is an essential driver in economies worldwide. It is responsible for one in seven jobs in the United States and accounts for 50 percent of all retail sales across 75 industries. The main reason why this business model is expected to grow relies on its relatively low risks and high-profit margins. Opening a XIMIVOGUE franchise store does not require a prohibitively high initial capital. You just need to find an empty place with an area of around 100 square meters and with a door width of more than 8 meters. This space should be close to a shopping mall or other crowded areas. And you’re set to start the journey to grow your franchise investment with one of the most successful franchises in the world. It’s not a coincidence that XIMIVOGUE’s international franchising network was able to create profits for more than 2 billion RMB (approx.  297,876,140 US$) in 2017, counting on more than 1400 franchise stores all over the world.

If you’re looking to new business opportunities for a reliable and long-term franchise store, XIMIVOGUE is the one franchise business you should rely on. They have a whole team ready to assist you with everything you might need 24/7.

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