Included among the various types of entrepreneur franchises are a start-up franchise, investing in a growing franchise and investing in joint businesses. A business franchise can be owned by a single person, a group of individual investors or may be owned and operated by a corporation. Entrepreneur franchises may range from fast-food enterprises to service stations to insurance companies. Any number of entrepreneur business ideas and concepts can be incorporated into entrepreneur franchises.
A start-up franchise opportunity may be offered in two distinct formats. A franchise may be a brand new business idea that allows investors to open a franchise in multiple markets. With these types of entrepreneur franchises, the start-up business typically does not have a long business track record or may have a healthy track record in a foreign market, but does not have a proven record in domestic markets. The second format involves entrepreneur franchises that have a proven track record in a domestic market, but are being launched in a brand new location. In either format, franchisees are introducing a business enterprise to a new segment of the consumer market.
Existing entrepreneur franchises are also often bought and sold in a seamless fashion. For instance, a franchise owner may decide to sell an individual franchise to a new owner. As the growing franchise being sold is already fully operational, there is no need for the new owner to scout a new location, hire and train new staff members, build a new client base or do any of the tasks typically associated with opening a new business franchise. New owners will likely still advertise that a change in ownership has taken place and may even offer customer incentives, such as coupons and special sale items, to expand an existing customer base. Such turnkey operations usually take place without an interruption in normal business operations, however.
Entrepreneur franchises may also be featured as joint businesses, such as a sandwich franchise that operates inside of a service station. These franchise opportunities may be operated by a single owner, or two separate entities may own each business individually yet agree to operate these businesses from the same location. Entrepreneur franchises such as these are popular in places like the United States where it is common to find two different franchises sharing the same retail space.
