Thinking of starting a company in the Lone Star State? You couldn’t have picked a better location. While the state rankings change depending on factors considered, Texas just about always turns up at or near the top for business climate.
But what kind of company will you own? Which is likely to be the safest to run and achieve high brand recognition as soon as possible? Consider franchise opportunities in Houston, Texas. But first, here’s why you’re in the right state for starting your own business.
Why the Climate Is Always Right for Business in Texas
Consider this Texas-size statistic. If the state were an independent nation, it would have the world’s eighth-largest economy. That’s based on an annual GDP of $2.4 trillion. Those numbers give the Lone Star State a better economy than that of most industrialized nations, including Canada, Australia, and Russia.
One leading source ranked Texas as the second-best state in which to run a company. Others have put it at No. 1, and few such surveys take the state out of the top 10 for economy, business climate, regulatory environment, and other factors that contribute to the prediction of success for a new or ongoing enterprise.
And finally, you’ll certainly find customers for your new enterprise here. Texas is the second-largest state in population, and it has four cities with about a million people or more: Houston, Dallas, San Antonio, and Austin. These are among the largest and most vibrant cities in the nation.
So you’re in a fine state to start a company. Here’s why you should consider looking into franchises for sales in Texas.
The Advantages (and a Possible Drawback) of Owning a Franchise
A business franchise belongs to you. You own it. You’re the boss. Its success or failure is on your shoulders. But you’re not alone.
A franchisee owns a business whose brand is more established and usually familiar to your prospective clients or customers. That’s because you buy the rights to call your branch a familiar name and to adopt your franchisor’s logo, signage, reputation, brand loyalty, and company culture and values.
Popular franchises available in Texas include Ace Hardware, Wendy’s, Anytime Fitness, Freeway Insurance, Wyndham Hotels, Supercuts, and thousands more.
Perhaps the main advantage is that you don’t have to introduce yourself before getting down to business with your customers. If a young married couple were to start a Bernie and June’s Steakhouse in Forth Worth, no one would know who they were or have an idea of their reputation. But if they became franchisees of LongHorn Steakhouse — instant brand recognition. If diners had a good meal at a Fresno or Peoria LongHorn, they’d assume the same worthwhile experience awaits them at Bernie and June’s restaurant with the same LongHorn name in Texas.
A good franchisor is a company with a dynamic brand, a great reputation, and a training program that will instill the processes, procedures, and company culture that made the franchisor so successful. Even first-time business owners can easily open and succeed with the right franchise.
If there’s a disadvantage for some, it’s the need to follow the established guidelines, branding, and ways of conducting business. If that’s too constraining to your entrepreneurial sensibilities, you might consider a different direction than franchising in Texas.
What Kind of Texas Franchise Should You Own?
What are you good at? What kind of business opportunity matches your talents and ambitions and drives your passions? What can you afford?
The point is that you have a lot of questions that demand answers before you sign any franchise agreement. Once you focus on a sector that seems like something you’d like to devote your working hours to, find out about costs.
That includes the franchise fee, which is the upfront cost of running a business with the franchisor’s name, branding, and reputation. You’ll also need to pay your franchisor a royalties fee for the products you sell or services you offer. This is an ongoing expenditure based on your revenue, profits, or other measures of your company activity.
And finally, you’ll have the usual costs of running any business: taxes, lease, employee costs, and possibly many other bills and financial responsibilities.
That total cost will vary widely. If you were to buy the Wyndham Hotel franchise mentioned earlier, that tally would run well into the millions of dollars. After all, you need to lease a luxury hotel and fully stock it with food, linens, and an employee team of 100 or more!
Compare that cost with running an insurance franchise in Texas. You can begin with yourself as your sole employee and run the operation out of your spare bedroom. A laptop, phone, company cards, and website will be among your few capital investments until your low employee count business starts and you have to hire help.
How to Buy a Franchise in Texas
Make contact with a franchise representative. It’s this individual’s job to discuss the franchise opportunity in Texas, answer your questions, and provide financial figures.
It’s easy to find franchise representatives on the Internet. Simply make a search engine query such as “business franchises for sale in Texas” or “insurance franchise in Texas.” You should be able to find contact information for franchisors actively looking for franchisees.
Be sure to ask the most important questions first: availability in your desired location and cost. You can spend a lot of time spinning your wheels with a franchise operation that’s out of your league or location.
Make Contact With a Freeway Insurance Franchise Representative
One franchise opportunity throughout Texas that’s likely to be within your means is as an independent insurance agent and owner of a Freeway Insurance agency.
At Freeway Insurance, we’ll show you, step by step, how to own a franchise. We offer top-tier training, help to get the state certifications and other insurance agent education requirements you need, and ongoing guidance and support from the moment you start planning your start-up.
You’ll also get the brand recognition and customer loyalty of one of the largest and most respected personal lines insurance companies in the United States. We’ll teach you how to build a financially rewarding insurance franchise.
Find out more about the low cost of entry and your sky-high prospects by contacting us online or calling (877) 822-3024 to speak to a Freeway Insurance representative today.
