top franchises to own in 2011
Since 1850s when Isaac Singer invented franchises, the industry has been on rapid development. Every year, some businesses emerge to be leaders while others dwindle. This trend is observed by the fact that the economy has a great impact on the franchisees. Businesses that are based in niches that are affected by the economy recession often shine at one time and then the next moment goes down. The following are the things that you should be on the look out for top franchises 2011.
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Franchises that are development conscious are the ones that have taken the leading positions in 2011. This implies that the organizations have researched and introduced new products in the market. The newly introduced products have proven more beneficial and popular among the clients.
The reaction of the business to the economy is another important factor that has helped to determine top franchise 2011. The leading businesses are mainly those that are based in recession proof industry such as cleaning and fast foods. Several established and profitable businesses have been shaken by the recession recently experienced making them to downsize as well as count huge losses.
Some people mistake that classification of franchises is based on the amount it is worth but this is a great mistake. Instead, the returns on investment (ROI) are what prospects should consider when determining the top franchise 2011. In general the leading franchise businesses in 2011 are those that have been capable of giving amount of returns with potential of recovering the initial investment within less than five years.
The leading franchises also offer training and continued support to the franchisees. The establishment part of a business, promoting the brand and acquiring a loyal customer base is normally the hardest part of getting a new business. Top 2011 franchises have been offering training, continued support, promotion of new business and proven business plan to the prospects to help their businesses leverage fast.
Another important thing to consider when determining the 2011 to franchises is the number of successful stores that have been started. If a certain business has managed to establish a number of successful stores, this is an indicator that the concepts that are used in running the business are applicable. In addition, that may be a sign that the industry of the business is developing.
Lastly, solid financial structure is another way of determining the best franchises. Good financial structure make banks and other financial institutions offer financial assistance easily.