Buying a franchise: considerations and process

¶ … quantities of franchises available, in today's market, it's important to discover which is best for the individual. After much research, I have determined that the franchise most suited to me is Party Central. The reasons for my decision follow.

The Benefits of a Party Central Franchise

With the wide variety and enormous quantities of franchises available, in today's market, it's important to discover which is best for the individual. After much research, I have determined that the franchise most suited to me is Party Central. The reasons for my decision follow.

First, and foremost, Party Central was attractive to me because of my own interests and personality traits. I am a naturally outgoing person and enjoy working with people; therefore, a retail business is well suited to me. In addition, I've always enjoyed party planning and therefore a party supply and rental company was particularly interesting. However, there are quite a few different party franchises available and further investigation of the details of each franchise was necessary to come up with my final determination.

Party Central is a 100% member-owned cooperative franchise. According to the company, it offers the rental industry's most complete rental franchise ("Party Central," 2005). They have a mix of both rental and retail products to fulfill all of the consumer's party needs. Their wide array of competitively priced products from all of the top party merchandise suppliers has positioned their organization amongst the top businesses in the party supply industry.

Party Central is a national name brand. This national name recognition holds significant value when starting a new business. In addition, they offer modern, industry leading, store designs and effective advertising programs to help ensure a new franchise's success ("Party Central," 2005).

When someone purchases a Party Central franchise, they are assisted in every step of the process. Franchise purchase includes field consultation to make certain that the location that is being chosen is going to be the best for the new business owner. As part of this, they only look to place franchises in areas with a minimum of a 100,000 market base, to make certain that the new business is not only successful, but has future growth opportunity is available. To further assist growth, expansion financing is available through the parent company. Other business support programs and national account purchasing programs all help the new owner in becoming successful ("Party Central," 2005).

All franchisees attend a five-day, comprehensive training class at the Truserv Rental University in Cary, Illinois. This training was developed to help prepare new owners and their key personnel to meet the challenges of opening a party supply and equipment rental franchise. In addition to this initial training, the parent company also offers continuous training that can help existing owners run their businesses more efficiently and effectively.

One of the benefits of owning a Party Central franchise, in addition to the name brand, business support and training, is their cap on royalties. Royalties are capped at $7,500 per year, for an individual store or $22,500 for multiple store owners. Since Party Central is a member owned co-op, all profits are rebated back to the store owners at the end of each year.