Hotline: 1800 102 2007
X
Loading
Search Business Opportunities
Advisory 2010-08-29

Searching a Franchise Business Online

Various mediums are available to search a franchise opportunity. However, internet is emerging as the most appropriate and popular medium to select a franchise business. If you are a young aspiring entrepreneur and exploring an appropriate medium to selec

By Abha Garyali Sub Editor

Advantages of internet research

The internet has made it simpler to seek information regarding n number of franchises within a short span of time. The various websites have no shortage of information regarding the franchise owner, popularity, or criteria for selecting a franchise etc. An interested entrepreneur can also get access to information regarding any lawsuits or complaints from the existing franchisees. At the same time, using the internet can be a daunting task for entrepreneurs who are not so net savvy. Few of them can even feel overwhelmed with the amount of data available on the internet and may not make a perfect use of it.

The article provides some handful tips to the aspiring entrepreneurs for conducting a wise research about the franchise business companies and selecting the best out of them.

Using the internet

Before beginning the search for any suitable franchise, the aspirants should read and understand the concept and complexities of franchising. It is well known that lack of knowledge of any concept can lead to failure. Therefore, it is always advisable for entrepreneurs to be well-versed about their franchise interest. Few of the other helpful tips are given as under:

  • Make list of franchise companies: Firstly an entrepreneur should make a list of the various franchise companies and their ratings. One can get such lists from different websites. 
  • Read with a pinch of salt: Do not believe in whatever you read on the different websites. You are bound to come across information that is biased, wrong and incomplete on the web. Always apply critical thinking when researching online. 
  • Published material is not always accurate: One can come across hundreds of articles based on franchise prospects and opportunities. Therefore, do not reply completely on such information without checking its authenticity.
  • Visit high traffic sites: It should always be preferred to visit high traffic websites instead of new websites for gaining information. The established sites are more reliable than new sites. The information published there is more credible and reliable. 
  • Do not trust unsuccessful franchisees: Some of the websites contain grievances of the failed franchisees. It is important to read them but these should not be taken as the complete truth. If an entrepreneur is really interested in some franchise but is afraid to invest in it due to unsuccessful stories of a few franchisees, he can clarify his doubts with the franchisor.  
  • Platform for gaining contacts: The various social websites like facebook, orkut, LinkedIn etc can also be helpful for making the right selection. Aspiring entrepreneurs can come in contact with the existing franchisees of the companies. They can develop friendly relations and can get lot of hidden information. 

Word of caution

Seeking knowledge through the internet is good but taking a decision and investing hard-earned money on any best franchise business without correct information can be the biggest mistake of any entrepreneur. Thus, it can be said that no doubt internet is an important source of information, but using it wisely is equally important.

Franchising has emerged as a proven business concept with minimum risk of failures attached to it. However, franchising does not guarantee 100 per cent success, but selecting an appropriate franchise business increases the chance of success. The availability of mediums like trade shows, magazines, newspapers, and internet has give a lot of exposure to aspiring entrepreneurs to study the various franchise opportunities. Out of these mediums, internet is latest, cost effective, and readily available medium. No doubt, using the medium of internet to find out a franchise opportunity is gaining wide acceptance but a considerable amount of cautiousness is also required before opting the medium as a search tool. The article highlights the brighter sides of using internet for selecting the right franchise business.

Advantages of Internet Research

The internet has made it simpler to seek information regarding n number of franchises within a short span of time. The various websites have no shortage of information regarding the franchise owner, popularity, or criteria for selecting a franchise etc. An interested entrepreneur can also get access to information regarding any lawsuits or complaints from the existing franchisees. At the same time, using the internet can be a daunting task for entrepreneurs who are not so net savvy. Few of them can even feel overwhelmed with the amount of data available on the internet and may not make a perfect use of it.

The article provides some handful tips to the aspiring entrepreneurs for conducting a wise research about the franchise business companies and selecting the best out of them.

Using the Internet

Before beginning the search for any suitable franchise, the aspirants should read and understand the concept and complexities of franchising. It is well known that lack of knowledge of any concept can lead to failure. Therefore, it is always advisable for entrepreneurs to be well-versed about their franchise interest. Few of the other helpful tips are given as under:

  • Make list of franchise companies: Firstly an entrepreneur should make a list of the various franchise companies and their ratings. One can get such lists from different websites. 
  • Read with a pinch of salt: Do not believe in whatever you read on the different websites. You are bound to come across information that is biased, wrong and incomplete on the web. Always apply critical thinking when researching online. 
  • Published material is not always accurate: One can come across hundreds of articles based on franchise prospects and opportunities. Therefore, do not reply completely on such information without checking its authenticity.
  • Visit high traffic sites: It should always be preferred to visit high traffic websites instead of new websites for gaining information. The established sites are more reliable than new sites. The information published there is more credible and reliable. 
  • Do not trust unsuccessful franchisees: Some of the websites contain grievances of the failed franchisees. It is important to read them but these should not be taken as the complete truth. If an entrepreneur is really interested in some franchise but is afraid to invest in it due to unsuccessful stories of a few franchisees, he can clarify his doubts with the franchisor.  
  • Platform for gaining contacts: The various social websites like facebook, orkut, LinkedIn etc can also be helpful for making the right selection. Aspiring entrepreneurs can come in contact with the existing franchisees of the companies. They can develop friendly relations and can get lot of hidden information.

Word of Caution

Seeking knowledge through the internet is good but taking a decision and investing hard-earned money on any best franchise business without correct information can be the biggest mistake of any entrepreneur. Thus, it can be said that no doubt internet is an important source of information, but using it wisely is equally important.

Comment
Related opportunities
  • Precious Jewellery
    Gitanjali Group is one of the largest branded jewellery retailers..
    Locations looking for expansion Maharashtra
    Establishment year 1966
    Franchising Launch Date 2000
    Investment size Rs. 50lac - 1 Cr.
    Space required 400
    Franchise Outlets -NA-
    Franchise Type Unit, Multiunit
    Headquater Mumbai City Maharashtra
  • Bakery & Confectionary
    Bangalore’s first exclusive waffle store. Waffle Stories was opened in..
    Locations looking for expansion Karnataka
    Establishment year 2014
    Franchising Launch Date 2017
    Investment size Rs. 10lac - 20lac
    Space required 100
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Bangalore Karnataka
  • Others Health Care & Fitness
    About Proyurveda :-Vitae Care Pvt. Ltd. is set up with..
    Locations looking for expansion Maharashtra
    Establishment year 2008
    Franchising Launch Date 2016
    Investment size Rs. 20lac - 30lac
    Space required -NA-
    Franchise Outlets -NA-
    Franchise Type Unit, Multiunit
    Headquater Mumbai City Maharashtra
  • Run your own preschool & provide quality education by joining..
    Locations looking for expansion Goa
    Establishment year 2014
    Franchising Launch Date 2015
    Investment size Rs. 2lac - 5lac
    Space required 900 - 1500 Sq.ft
    Franchise Outlets -NA-
    Franchise Type Unit, Multiunit
    Headquater North Goa Goa
Insta-Subscribe to
The Franchising World
Magazine
For hassle free instant subscription, just give your number and email id and our customer care agent will get in touch with you
OR Click here to Subscribe Online
Daily Updates
Submit your email address to receive the latest updates on news & host of opportunities
More Stories