Franchise ownership viable option for Black Americans

Franchise ownership viable option for Black Americans

Franchise Business Ownership is a viable business option that Black Americans should consider in today’s business climate. The failure rate for small business start is usually very high due to a number of dynamics that we will explore in another column of Black Star News. Franchising often provides years of experience, a proven way of doing business, increased visibility, reduction of advertising cost, etc. I had the pleasure of running a franchise start up for well over ten years; the franchise was called the “Haircut Hut Barber Shop Franchise”.

Franchising is based on the theory of creating a prototype of what works, and duplicating the results of your laboratory experience. Franchising is a great way to leverage and existing brand, and benefit from years of experience of franchise. You should look up the International Association of Franchises and research a franchises business history before leaping into a new venture. A call to the better business bureau should also be made, before you leap into a new venture.

Franchises still need business commitment, determination, hard work, community involvement, good employees, cash flow, cash management, etc. Franchising looks attractive to everyone, even though some fail to make it. The rate of failure is below statistics of most small business start-up. When I was the owner of the Haircut Hut Barbershop Franchise we started with one store in Hempstead, Long Island, and then went on to open a store in Roosevelt, LI, Uniondale, LI, Jamaica Queens, and Brooklyn.

I am no longer in the franchise business currently, but I am willing to venture into this area again. The benefits of Franchising very often outweigh the cost of opening an untried venture. “Thumbs Up” to Golden Krust Bakery for its recent achievements in expanding its new franchise locations across America. Black Americans can start and develop their very own franchises. The business concept in America is to build value and to make a profit. Most Black Americans currently work within systems in their current area of employment, so why not consider developing a business concept with a system of your own.

To list your Business Events in Black Star News or request to feature a business article in Black Star News Email: Phil Andrews at cbbookspr@aol.com. Phil Andrews is currently the Public Relations Director for Blackbusinesscircle.com, Awarenessmagazine.net, Cbbooksdistribution.com, Harlem Book Fair on Long Island, Queens Book Fair, and JoJo Caribbean Showcase TV Show.

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