Is getting a franchise a wise decision?

February 28, 2012 | By Fitz | Filed in: Business & Entrepreneurship, Income Opportunities, Investing.

I was planning to get to a LAUNDRY franchise. Is this a profitable business ?




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2 Responses to “Is getting a franchise a wise decision?”

  1. erds518 says:

    @Les

    Franchising a business is a great idea becuase of several factors
    1. The business is already established
    2. The product “might be already popular to consumers”
    3. You dont consume time in thingking of strategy because it is already established
    all you have to do is give your capital and you can start your own business

    In terms of your plan of having a Laundry Business there are several important things you must consider it Franchising one.

    1. Is this company provided full support to the franchise (product, machines, Manpower training etc)
    2. Is your location suites your business ( Near Colleges dormitory, Offices, and subdivisions)
    3. Are you knowledgeble about the business
    4. if fund is not a problem are you willing to add xtra services to your plan (pick-up and delivery< extra machines, and extra marketing strategiest)

    All in all franchising is the best choise in making a business your hindrance to that is your limited willingness to succeed in life

    so keep dreaming and be successfull

  2. ForsakenOne says:

    As erd518 said, if you’re knowledgeable and willing to give the extra effort, it’s a worthwhile investment.

    Things to consider:
    1. try to put some time into understanding what makes this laundry service succeed. My personal, uneducated opinion: if it’s near condos, or residences of “yuppies” with no time or unwiling to do their own laundry, and is very accessible (i.e. “along the way” in the work to home route), then it should be ok.

    2. Get good help, unless you plan to be there yourself. I knew a guy who bought a laundry business. it was ok (they did laundry for a hotel). and then one day the workers messed up the laundries of several customers, and clothes ended up with different people. it wasn;t a franchise though. A might franchise with an established process might prevent something like that.

    My personal take:

    if you;re dead set on a location, thikn of what it needs or what can thrive in it, and either buy a franchise for that or take the chance to start your own.

    But if you are dead set on having a laundry business ( or some other kind of business/franchise), be prepared to scout for a great location, and be open minded to the fact it might be far from your work or home location.

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