If you are considering becoming a business owner, buying a franchise might be a great way to get your foot in the door.
If you are considering becoming a business owner, buying a franchise might be a great way to get your foot in the door. In fact, many people are eager to purchase a franchise as a way to start their own business and succeed in the small business world. But, knowing at what specific stage of a franchise cycle purchasing one is best can make all the difference when it comes to being a success or failure in the business world. The reality is, there are key stages in any franchise and understanding each one becomes crucial to anyone looking to make their way in the franchise world successfully. Ultimately, understanding the specific stage that is optimal for you to purchase a franchise can make a world of a difference when it comes to your investment. Here are some key things to consider when it comes to understanding when specifically to purchase your franchise — based on the cycle it is in.
The Mature Cycle
The mature cycle is the one most people are ultimately familiar with. In fact, just as it sounds, the mature cycle of a franchise involves a franchise that is widely known and a name that everyone can conjure up without much effort. Becoming a household name can be difficult to figure out but ultimately, it really does allow people to understand whether a franchise is high in popularity or not. The reality is, mature franchises have been around for many, many years — if not decades allowing them to be quite expensive when it comes to purchasing them. Ultimately, these franchises are super recognizable which is why they tend to be pricey to purchase — which is why it might not be best to buy a franchise at this stage of their cycles.
The Second And Middle Cycle
The next cycle is the middle cycle. Here, franchises might have some name recognition which does still increase their costs. In fact, similar to the previous cycle, it might not benefit franchise owners looking to purchase franchises at this stage.
The Early Cycle
For franchises in the early cycle typically are the ones that are ideal to purchase. In fact, finding a franchise that is gaining popularity in this cycle might be the best franchise to purchase from a small business perspective.
Buy With Atlantic Business Brokerage, Inc.
At Atlantic Business Brokerage, our mission is quite simple; we help sellers sell businesses, and buyers buy businesses! Over the past 30 years, ABBI has facilitated the sale of countless commercial properties, businesses, and franchised locations. With our unparalleled knowledge of the business purchase and sale industry and our network of contacts, we offer services to both buyers and sellers that no other brokerage firm can match. Contact us to discuss your business buying and selling goals today at 410-561-9800 or Toll-Free at 800-279-7569. Email us at [email protected], and follow us online on Facebook and LinkedIn.