Franchising:
From June 2005
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Fast Track to Being in Charge
By Janis Dice
If you’ve munched a Big Mac or had your vehicle Jiffy Lubed, you contributed to the $1.53 trillion generated annually by franchising activity. For those who prefer working for themselves, franchising is a fast track to entrepreneurship, with shortcuts and safeguards along the way.
While franchising spawns many millionaires, nearly half of all system franchisors fail within five years. But thorough investigation and the assistance of consultants can help boost the odds for franchising success.
Some people want to purchase a franchise; others want to take their business to a higher level by becoming a franchisor. Troy Feist of Granite Bay wanted the former and became the latter.
When he was 19, Feist tried to buy a Togo’s franchise, but the company wouldn’t consider him. Undaunted, he established his own sandwich shop, the Beach Hut Deli in Granite Bay, making big sandwiches served at surfboard tables.
A Growing Army
Continued...
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