Famous for the best pies you will ever eat, Croshaw's has established a reputation in St. George, Utah, not only with locals but with all the tourists who visit this sunny part of Utah. Forget about walking in during Thanksgiving! Croshaw's sells over 300,000 pies a year.
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Franchising Tips and Facts
Franchising is a way of doing business. It is a method and marketing tool for companies to expand their market share more rapidly and less expensively. Some companies, which are thought to be franchises, are in fact not franchises. All stores are owned and operated by the company itself Some examples of businesses that are not franchises are: Starbucks, Gap, Victoria's Secret.
Although the success rate for franchise-owned business is generally better than the success rate for many independent businesses, there is no franchise formula to guarantee victory. The same may also be said of the profits generated. Often the margins you make are a reflection of your ability to properly run your franchise, however you may be able to get a document from the franchisor that illustrates the typical franchise earnings. If the franchisor does not provide such a document, you should contact a number of franchisees in the market you are interested in and seek their advice on the business' profitability.
When considering a Croshaw's Gourmet Pies franchise, try to understand why they are offering you the business in the first place. Very often, franchising is an extremely quick low-risk method of expanding a successful business across the world. As a franchisee, you take on the majority of financial risk. In return the franchisor is offering a successful business formula that has been proven to work. But before you go ahead, ask yourself whether the support, training, stock, experience and brand name justifies the investment asked.
Can you own another franchise at the same time? Most likely, you will be restricted from purchasing a franchise from a franchisor that would be a direct competitor to a Croshaw's Gourmet Pies franchise. However, you may be allowed to purchase a franchise of another type.
According to the Small Business Administration, less than 5% of all franchise units fail each year. This is compared to 30 to 35 percent of small businesses which fail within the first year of operation. However, owning a Croshaw's Gourmet Pies franchise is not a guaranteed recipe for success. You will still have to commit yourself, your time, and perhaps even make some personal sacrifices in order to succeed.
Please Note: Croshaw's Gourmet Pies, and other
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considered as an "offering," suggestion or approval by
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