Rick Bisio speaks to students about location, demographics and the prosperity of a franchise in different market areas
Orlando, FL - Current economic conditions are causing many people to lose their jobs or suffer cut-backs, resulting in lower pay and/or fewer work hours. Many are forced to work two jobs if they are fortunate to find additional work. Others are going into business for themselves. Rick Bisio, franchise consultant and author of the book, "The Educated Franchisee," is in the right business today. Rick educates entrepreneurs to make good decisions when researching franchises and becoming franchisees.
Rick spoke at a recent seminar to provide franchise information to students. The topic was "location, location, location." Rick said, "There are numerous reasons a franchise that is prosperous in one town will do poorly in another. Even if the franchisee is doing everything right, the business can be affected by territory size, population density or demographics."
Rick advised his students to compare the territories and to question other franchisees who are in comparable areas as to population density and demographics to see how successful they are. "When you analyze the demographics you should be considering a number of factors including gender, race, age, income, education, home ownership, home values and employment status. Does your franchise appeal to the people in your market area?"
As the lecture concluded, Rick said, "Research your market and be sure you are in one that is expected to remain the same or improve over the next 10 years; 10 years is a common franchise contract term."
Rick has been recognized as one of the premier franchise consultants in the US and has mentored thousands of individuals on making the right decisions about franchise ownership. Visit http://www.educatedfranchisee.com for a free newsletter and more information.
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