Promising Franchises in the market at present?

Hannibal6.0

I have been looking into the idea of getting in on a franchise at the moment as I feel it could suit my present situation best. Was just wondering what peoples thoughts or opinions out there on worthwhile franchises to invest in at present???

In the business post on Sunday I saw an ad for maple mouse franchise being sold for a set fee of €5,000, this is what got me thinking of franchises in particular, although from the little research I have done on this particular franchise it has not appeared to be a good option, but then again I could be very wrong. Just thought I would probe for what else is out there at the moment?

For me, your thought process here is a risky one.

First of all your just basically saying you want to start a business in anything at all, but you should really focus on an area where you have expertise. Or at the very least something that is so simple you don't need to have expertise.
A good example of this is Ramsays kitchen nightmares if you have ever seen that. Often people have just started a restaurant because they thought it was a good idea, but because they have no education or training in the business, the whole thing turns into a disaster because they don't know the fundamentals of the industry, how to fix mistakes etc etc.

I think instead of asking what franchises are available out there, its better to be inspired by something, and then look at the business options for it. It makes it much easier to run a business if you enjoy what your doing, especially if times are tough.
One of the first businesses I had was in telecom and i got into it without knowing much about it and without having a passion for it, it was simply to make money. Although I did well in it, I quickly got burnt out and found it hard to motivate myself in an industry which just didn't hold any excitement for me personally.

Gloomtastic!

Deleted User wrote: »

For me, your thought process here is a risky one.

First of all your just basically saying you want to start a business in anything at all, but you should really focus on an area where you have expertise. Or at the very least something that is so simple you don't need to have expertise.
A good example of this is Ramsays kitchen nightmares if you have ever seen that. Often people have just started a restaurant because they thought it was a good idea, but because they have no education or training in the business, the whole thing turns into a disaster because they don't know the fundamentals of the industry, how to fix mistakes etc etc.

I think instead of asking what franchises are available out there, its better to be inspired by something, and then look at the business options for it. It makes it much easier to run a business if you enjoy what your doing, especially if times are tough.
One of the first businesses I had was in telecom and i got into it without knowing much about it and without having a passion for it, it was simply to make money. Although I did well in it, I quickly got burnt out and found it hard to motivate myself in an industry which just didn't hold any excitement for me personally.

Not necessarily El Rifle. Bought into a franchise several years ago where I had zero experience. It has now grown into a passion.

But to answer the OP's question, there are good franchises out there but with that sort of price (€5000.00) don't expect to make huge amounts from it. In the current climate, I'd advise you look for one with very low overheads (based from home) and a cash business (no invoicing).

Be warned though, disposable income is in very short supply at the moment. Very difficult to get people to part with their cash.

Whereabouts are you based?

ssbob

Gloomtastic! wrote: »

Not necessarily El Rifle. Bought into a franchise several years ago where I had zero experience. It has now grown into a passion.

Hi Gloomtastic, tell us your story.

Gloomtastic!

ssbob wrote: »

Hi Gloomtastic, tell us your story.

I have posted in the sticky at the top of the forum but no specifics.

Was looking out for a franchise 2007. I'd been working for myself or with others on various enterprises, in the publishing/print markets, since 1994 but felt comfortable going into a franchise because of the management back-up and tried and tested business models.

Went to the Franchise Expo, talked to several companies in the coffee/takeaway business. They were looking for huge amounts of up front capital plus you had to find your own premises. The capital wasn't a huge hurdle but I knew, at the time, finding the right premises, and at an affordable rent, would be. Nothing really clicked.

Talking to my wife one day she suggested looking at a childrens entertainment franchise. Looking on the web came across a few that looked ok but nothing special. Then I spotted one that had a great website, really professional. www.kidspartyclub.ie
Plus they were only looking for a fraction of the capital that a food franchise was looking for. I signed up, got a couple of days training and was sent out to make my fortune! I repaid the initial franchise fee/ start-up costs in seven months.

Three and a half years later I'm their longest running and most successful franchisee, No two shows are ever the same, you could be in a mansion at 2pm and a council house at 4:30pm. In front of 150 screaming kids then going to a party where you have a few toddlers who are scared of their own shadows.

It's predominantly a cash business, the only overhead is insurance and you usually have five days off a week! Business has been growing 25% a year until this year, it's bloody hard out there at the moment but we're adapting to deal with it.

It's physically and mentally exhausting work and you can meet some right little c@nts (I always blame the parents!) but not too often, thank goodness.

We have our annual conference next week so if you're in Limerick and you see a crowd of drunks talking about puppets, magic or brats, that'll be us.

Gloomtastic!

Gloomtastic! wrote: »

I have posted in the sticky at the top of the forum but no specifics.

Was looking out for a franchise 2007. I'd been working for myself or with others on various enterprises, in the publishing/print markets, since 1994 but felt comfortable going into a franchise because of the management back-up and tried and tested business models.

Went to the Franchise Expo, talked to several companies in the coffee/takeaway business. They were looking for huge amounts of up front capital plus you had to find your own premises. The capital wasn't a huge hurdle but I knew, at the time, finding the right premises, and at an affordable rent, would be. Nothing really clicked.

Talking to my wife one day she suggested looking at a childrens entertainment franchise. Looking on the web came across a few that looked ok but nothing special. Then I spotted one that had a great website, really professional. www.kidspartyclub.ie
Plus they were only looking for a fraction of the capital that a food franchise was looking for. I signed up, got a couple of days training and was sent out to make my fortune! I repaid the initial franchise fee/ start-up costs in seven months.

Three and a half years later I'm their longest running and most successful franchisee, No two shows are ever the same, you could be in a mansion at 2pm and a council house at 4:30pm. In front of 150 screaming kids then going to a party where you have a few toddlers who are scared of their own shadows.

It's predominantly a cash business, the only overhead is insurance and you usually have five days off a week! Business has been growing 25% a year until this year, it's bloody hard out there at the moment but we're adapting to deal with it.

It's physically and mentally exhausting work and you can meet some right little c@nts (I always blame the parents!) but not too often, thank goodness.

We have our annual conference next week so if you're in Limerick and you see a crowd of drunks talking about puppets, magic or brats, that'll be us.

Fair play to you. That is a good story to hear. That must be a pretty intense business to run while at the parties with 50 rapscallions running around!

I still would back the advice I gave the OP however.

On the other hand when it comes down to it, I believe you can do almost anything if you set your mind to it, so the OP could well find any franchise and make it into his dream if he was motivated enough to succeed with it. And sometimes making money at something can lead to a very instant passion indeed hehe.
The last few years I've just come to the conclusion to have a passion for it is important from the beginning, just makes it easier to motivate yourself