Who doesn’t love shopping? Whether it is an online store franchise or someone is physically pounding the streets and shopping centres looking for that perfect dress, shoes or a gift.
A retail option will never go out of fashion. For a person looking for the perfect retail opportunities there has never been more variety of availability. Of course stores are sold by location or territory so start your search by your interests and your budget and seeing what is missing in your area.
For a potential store owner, the key is to sell to your local demographic and pick the option that will be a hit in your town.
It is probably less likely that an inner city, high rise population is going to need a pet food outlet on the doorstep when there are so many other retail opportunities that would fit the bill, like a mobile phone sales and service store.
The more well-known clothing names and retail store franchises may well have an affordable minimum entry level fee but the other costs that need to be considered are the lease costs of the actual premises and the store fit out to comply with the recognisable colours and layouts of the other shops around the country, or around the world even.
Owning a retail outlet is an exciting time and an exciting opportunity as statistics show that eight out of ten franchises are still in business after five years where eight out of ten stand-alone independent businesses are not. This is why banks look more favourably on lending to a potential business owner over a new start up independent business owner.
Carry out your due diligence
Are you interested in retail in one of the big shopping centres or perhaps in your local high street? The brand owner has done their homework too and they understand the demographics and populations of the territories or regions they have available to open one of their stores.
If the retail store you are interested in has availability in your area then prepare your business plan and go off to your interview well-armed with all the information and research you have done.
More often than not an owner is looking for someone with previous experience or industry knowledge. They are looking for someone with people skills and passion and drive to succeed in their own business.
It is in their best interest to make your business successful so the interview is going both ways. You need to see how comfortable and compatible you feel with this retail store and what support, training and on-going assistance the franchisor is offering.
Take just a moment of your time right now to fill in your details at the top of this page. Use the free service and expert advice of ours to get your research under way. Approved Franchises have made it their number one goal to connect you with the highest level of franchises that best suit your requirements.