Business Learning Center

A franchise is a license to use a trademark in exchange for payment of fees or royalties and involves some material assistance from the trademark owner. The typical business franchise provides the franchisee with a complete operating system that includes all of the systems, techniques, practices and sometimes equipment that the franchisee needs to get up and running and continue running. Usually, the franchisor also provides a marketing program and other support services.

Franchise businesses account for about one third of total retail sales in the United States, 10% of all fulltime businesses with employees, and franchises provide employment to over 7 million Americans. The average investment, before real estate expenses in over 75% of franchises, is less than $250,000. For this reason alone, franchises are appealing to many entrepreneurs.

There are a few franchises that are new, up-and-coming and are hot in the franchise offerings right now.

Health Career Agents provides healthcare providers with unique employment placement services through independent channels. The capital requirement needed to invest is $27,900.

Right at Home is a company that offers in home care and assistance and is dedicated to improving the quality of life for its clients. The capital requirement to invest is $50,000 – $60,000.

FranNet is the world’s largest network of franchise consultants. Consultants at FranNet assist new franchisees with every step of setting up their own franchise business. The capital requirement needed to invest is $30,000.

Altoids Ò gum is being sold from designer candy machines. You can own these gum dispensers as a franchising opportunity. The capital requirement needed to invest is $16,000.

Diet Center is advertising that it is ideal for the female entrepreneur population. They are a leader in the weight loss industry. The capital requirement to invest is $29,292 – $55,374.

Mathnasium is a learning center that focuses purely on improving student’s math skills. The capital requirement to invest is $41,000 – $65,200.

Vendstar vending machine sells to individuals who are interested in business opportunities. The capital requirement needed to invest is $2,500 – $25,000 depending on how many machines you want to own and operate.

Ace Hardware has been in business for over eight decades and is still on the hot list of franchise opportunities. The capital requirement needed to invest is $150,000.

Protect Painters provides painting services to residential and light commercial customers. The capital requirement needed to invest is $38,000 – $44,250.

Discount Boxes, Inc. supplies moving supplies and boxes to people who are moving. The capital requirement needed to invest is $15,000.

Clix is a unique retail portrait and on-location digital photography event company. Capital requirement needed to invest is $237,000 – $298-000.

Ubuildit assists owner-builders to complete their self-managed new construction or significant remodel project. The capital requirement needed to invest is $100,000 – $225,000.

SmartBox is a portable storage company similar to PODS. The capital requirement needed to invest is $350,000 and you must own 5 units.

Of course there are franchise opportunities out there that will fit your skills, interests, passions and budget. Think of the success of McDonalds and Burger King and other restaurant franchises. If you’re interested in becoming your own boss, and making money for yourself, then perhaps owning a franchise is for you.

No matter how much due diligence you attempt, making a decision on contracting with an onshore or offshore IT service provider is much like buying promises. To some extent you are going to have to trust in your selected partner to be committed to providing your company with the high quality services that they have promised. Your lawyers will surely not agree but offshore contracts are only worth the integrity of the company that you are contracting with. Dun & Bradstreet does not include this metric (integrity) in corporate profiles yet and it is not on a credit report either. One of my partners in Brazil would often tell me “Henry we are highly motivated for this opportunity”, but I did not fully understand the value of that statement until we got into the trenches together.

Here are a few of the promises you are accepting or questions you may have doubts about when signing that offshore IT staff augmentation or support contract:

1. Will I really get the hours I am paying for?
2. Is my intellectual property and information secure?
3. Am I really going to be provided with qualified professionals?
4. Will billing rates go up after I train the new team in my business?
5. Can I reach this vendor when I need immediate support?
6. Will this vendor work with me when the going gets rough?
7. Is this a stable country politically, socially, and economically?
8. Are currency exchange rates an issue?
9. Is this a safe country for business travel?
10. Is this vendor’s location in a safe part of town?
11. What is the cost of business travel to this location?
12. What is the cost for offshore professionals from there to travel to the U.S.?
13. Can professionals at this location get a U.S. passport and visa for U.S. visits?
14. Are U.S. contracts legally binding in this country?
15. How long does it take to get a visa and passport for team members to make training and onsite orientation trips to my location?
16. What will it cost for visas and passports for your offshore team?
17. Will the offshore team have someone full time who is experienced in managing offshore projects?
18. Is this a stable company, i.e. good credit and strong experienced management?
19. Does this vendor’s company have the interpersonal skills to work with my company?
20. Does this offshore vendor have executive management that speak English and will be responsive and share your since of urgency?
21. Are this vendor’s team management and executive management going to be available in your workday time zone on short notice when you need them?
22. Can this vendor grow with your companies needs?
23. Do they have commercial liability insurance, errors and omissions insurance?
24. Can they buy commercial liability insurance in their country?
25. Will they work in your workday time zone?
26. Does this company have a secure network infrastructure?
27. Is their network infrastructure professionally designed and firewall protected?
28. Is their facility physically secure?
29. Are extreme weather conditions a factor affecting travel, security, or work schedules in this country?
30. Does this location pose natural disaster risk to your business?
31. Is this vendor going to be flexible as your needs change?

No matter how much time on money you spend developing a clam tight contract with an offshore outsourcing provider you never want to have to consider international litigation or international arbitration for contract disputes. Unless your needs are well defined and static, which I have never seen, the requirements better be very general in that contract or they will need review and changes before the ink gets dry.

In any offshore project establishing good relationships are key to clear communications. Vision TRE has been nurturing relationships with our offshore partner locations in Brazil and Panama for years. We have business relationships in South and Central America that have been proven dependable over the years. Integrity, trust, mutual cultural respect, and a shared since of urgency make these relationships valuable to any company that contract with us to establish an offshore team.