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!
Cindy Akers-Gilford creates stained glass, fused glass, mosaics, handmade glass jewelry, pendants, suncatchers and other original glass artwork in her studio in Dunn, N.C. Photos provided by Cimply Broken.Self-made Artist and Founder of Cimply Broken
FirstHealth’s art therapy for cancer patients and caregivers helps attendees reduce stress through creative expression. Photo provided by Deborah Yarborough.Group therapy can provide much-needed support and comfort during difficult times, and t
Van Goat Studios, which has been operating since 2019, has allowed Johnson to express herself and reflect the spirit of local communities through murals. Photo provided by Elyse Johnson.Elyse Johnson of Van Goat Studios in Dunn wants to spread her ar
