Starting an Industry Magazine Franchise
The Industry Magazine franchise gives entrepreneurs the unique opportunity to partake in an exciting magazine franchise that specializes in various topics including Arts and Entertainment, Business, Health and Beauty Lifestyle, among others.
AS time progresses people are constantly searching for ways to gain their own financial freedom and independence and this is more often than not carried about by starting their own business.
Majority of the young would be entrepreneurs have little to no experience in the basics of business management and cannot afford to lose their investment. Therefore they opt for franchises to help get their businesses off the ground. With the franchise one can benefit from the popularity and credibility of an existing business model and can reap the benefits from the franchise as their own, while supporting the brand name of the franchise. This option is especially favored by those that want a jump start on the road to managing their own business.
To open an Industry Magazine franchise you will need a total investment of around $34,300 to $43,800 following the initial franchise fee of $25,000. There are no royalty fees or advertising fees but there is however a renewal fee of $500, wherein the term of agreement for the franchise is renewable in 3 years. In terms of business operations, international franchisees are required to purchase multiple units or master licenses. The minimum number of employees needed to run a single franchised unit is around 3 to 5 and absentee ownership of franchise is allowed.
To qualify for application, it is necessary, however not required, to have general business experience and marketing skills. Before you engage in any business it is always best to have an ample amount of knowledge with regards to the industry you are about to enter. If you do not have prior experience you can always read about the industry in books, join seminars and forums discussing it, or better yet get advice from someone already in the field and take in their insight. The good thing about franchises is that their training is usually inclusive of the basics in the industry. However there is only so much one can learn in the span of a few weeks so it is always best to read up.
Once you have noted all the aspects of the business you can now start the necessary financial allotment for your business. Some franchise offer financial support for their potential franchise owners. The Industry Magazine franchise however does not offer financial aid though it can offer such through a third party business. Make sure that you assess the funds accordingly and be able to determine what you can and cannot afford.
Other forms of support offered by the franchise include the regular newsletters, monthly meetings with franchise owners and internet support. They also provide marketing support thought the national media which will help you garner a considerable amount for your target audience.
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