Aspiring entrepreneurs should look no further than the great state of Georgia for the perfect franchise opportunity. Businesses with proven track records abound in all industries. If casual dining is your forte, Georgia has it. Hair salons? Georgia has that too. What about auto insurance franchises? Yes again. It turns out that franchise opportunities in Georgia are plentiful, and the Peachtree State has much more to offer than delicious yellow-orange fruits and championship college football.
Can I Make Money as a Franchisee?
If you’re still reading, you’re at least interested in pursuing a franchise for sale in Georgia. That’s great! Being your own boss of a business with a product that’s been vetted for a long time can be quite lucrative. You might be wondering, “How much do franchise owners make?” The answer is that the annual salary varies by industry. Some of the top franchise owners salaries are senior care, business services, and real estate. Interestingly, an insurance franchise owner’s salary is reported to be around $115,000 on average, making it a top choice among franchise opportunities in Georgia or anywhere else.
What 5 Things Should I Consider When Selecting a Franchise Opportunity in Georgia?
With the understanding that becoming a franchisee can be a steady and comfortable way to make a living, there are five big factors to consider before jumping in. After all, you don’t want to buy into a Taco Bell franchise if your area of interest is in the beauty/personal care industry. With that in mind, let’s explore these five factors to consider so you can pursue the right opportunity.
1. Is the Market Growing?
As mentioned earlier, franchise opportunities in Georgia are plentiful, so there’s no need to jump into one that’s already hit its peak. In other words, no matter how much you like old-fashioned typewriters, you don’t want to start a typewriter business today — not that you’d even find a franchise that does, but you get the point. Find a market that still exhibits growth.
2. How Saturated Is the Market?
Competition is a tricky balance in any industry. If you don’t have any, you probably don’t have a business because the customer probably doesn’t want the product or service. However, you don’t want to enter a marketplace loaded with competition. Take a look around. If you see a nail salon on every corner of a Georgia community, you probably don’t want to start another one. However, if you don’t see an insurance franchise in Georgia, you might want to investigate if an insurance franchise opportunity might be right for you. We know there’s a market for insurance, so it might just be an untapped need.
3. Verifiable Sales
Before considering any franchise opportunities in Georgia, you should check into the sales record of whatever business you’re considering buying. You want to make sure other franchisees are making money. While you’re at it, find out how long they’ve been in business. If more than one franchise owner you talk to has been making verifiable sales for more than a few years, that business is probably a pretty good bet.
4. A Variety of Products
Putting all your eggs in one basket is never a good business model. For example, if you’re looking at an insurance franchise in Georgia, you would be wise to verify they have a variety of products like auto, life, homeowners, and more. An insurance company that exclusively sells RV insurance isn’t likely to be all that profitable. Remember, variety is the spice of life.
5. Package Deals
Remember the days of going to the drive-thru and ordering a hamburger, fries, and a soda? Probably not. If you’re under the age of 40, you’ve always had the value meal to choose where all three items are packaged together for a deal. Consumers love a deal. This happens in other industries as well. Look for a business that allows you to bring in more customers or even entice existing ones to buy more with package deals.
Opportunities Abound
For a comprehensive listing of available franchise opportunities in Georgia, check out this listing on FranchiseDirect.com. There, you can search for just the right business to suit your entrepreneurial desire, filtering by industry, investment amount, and more.
If you are an entrepreneur looking to begin an insurance franchise in Georgia, Freeway Franchise has the opportunity for you. Contact us at (877) 822-3024 or fill out our quick and easy online form here. We have decades of experience and a dedicated support team that is ready to set you up for success.
