More News

Fayetteville’s flourishing franchises

By Marty Cayton, posted 6 months ago
Fayetteville’s local economy, abundant pool of talent and labor sources and military affiliation make it the perfect area to start a
business or introduce a franchise - Photo created with Canva

Welcome to our Nov. 17 issue where we are highlighting some successful franchises in our area. Franchise businesses seem to flourish in the greater Fayetteville area.
To explore this a bit further, it might be worth looking into the definition of what a franchise is and is not.
A franchise is not just a business with multiple locations. For example, Cracker Barrel is not a franchise but is a publicly traded business. Some businesses appear to be part of a franchise network, but instead are part of a cooperative entity, such as “Do it Best” Hardware, The Associated Press or Ace Hardware. A cooperative business is owned and run by its members primarily for the benefit of cost savings that get passed on to the customers and members.
According to Investopedia, a franchise, “grants a franchisee access to a franchisor's proprietary business knowledge, processes and trademarks, allowing the franchisee to sell a product or service under the franchisor’s business name.”

The franchisee sets up a new or existing business to operate and sell products or services that follow the unique branding and proprietary model that the franchisor has established. The franchisee pays the franchisor a start up fee and monthly royalties on sales typically equal to between 5-8 percent.

THE TYPICAL VALUE FOR THE FRANCHISEE IS: 
- A proven successful business model with operating systems to follow.
- Help with marketing and advertising.
- A larger company from which to leverage support.

The businesses featured in this issue are all franchisees who are all having success in our local area. There are three reasons I believe make our area a great place to consider investing in a franchise. First, we have a phenomenal local economy in Fayetteville. Second, we have access to a significant pool of talent in labor resources. And third, our affiliation with the military through active duty families, contractors and transitioning or retired personnel afford us a ready-made entrepreneurial incubator for possible franchisees.

If you are interested in learning more about franchise opportunities, I would encourage you to check out the following resources below.

www.franchiseopportunities.com
www.franchisegator.com/states/north-carolina-franchises

God Bless you and yours!

Ico insights

INSIGHTS

SPONSORS' CONTENT

In The Current Issue

Full time family: Ross I.T. Services co-owner Kellie Ross finds balance between family and running a business

From right to left: The Ross family includes Ross I.T. Services Founder and Co-owner Sam Ross, the youngest in the family Caroline (7), Co-owner Kellie Ross and oldest daughter Hannah (14). Photo provided by Kellie Ross.For the past 18 years, Kellie


Not for profit, for people: CFVH Foundation Vice President shares about her experience navigating motherhood as a working professional

Brooks shared that her favorite part of the role that she has now is working with donors and helping them take their philanthropic investment in health care and see it put to use. Photo provided by CFVH.Cape Fear Valley Health Foundation Vice Preside


Publisher's note: Finding solutions

In May, the Greater Fayetteville Business Journal celebrated small business month and Mother’s Day! In an effort to further recognize both of these important events, we have assembled a few stories highlighting working mothers and “mom-owned” small b