Brooke Franchise Corporation understands that many questions arise on the journey to owning a franchise business. Here are the questions we most frequently hear, however, we enjoy the opportunity to address specific questions, please contact us with questions.
What is a franchise?
A franchise is an agreement between a company and another party in which the company provides the other party with the right to use the firm's name and sell or rent its products.
What is franchising?
Franchising involves two parties; the franchisor who owns the product or services offered and the franchisee who purchases the trademark rights to own their business under the name of the franchisor. Franchising offers the freedom to exercise the powers of a corporation through the operation of one’s own business.
Franchising enables business owners to sell products or services with trusted brand recognition. At Brooke, franchisees also have access to various support services including location research, access to capital, start-up assistance, marketing assistance, training, management advice and the foundation of an established corporation.
What are the rewards of franchising?
The franchisor has a proven the business model, offers training, enables licensed agents to establish their own business with little experience.
How does Brooke help convert your business to a franchise?
We offer capital for acquisition and expansion, public relations services, payroll processing, marketing assistance, training, management assistance and also administer the transition of office operational services.
Why is the Internet important to my business?
As a Brooke franchisee, the contact information for all agents is listed by state on Brooke’s consumer site, brookeagency.com. Beyond that, all agents have the option to establish a web site for their own agency through the domain name brookeagency.com. Although the Internet is a tool which must considered in all business plans, Brooke believes that the nature of insurance sales typically requires that internet leads be supplemented with personal contact by sales professionals.
Why should I franchise vs. start my own business?
According to the Department of Commerce, 90% of new businesses fail each year. Our franchisees have a higher rate of success due to the brand name and reputation behind our products and services.
What should I consider before buying a franchise?
Review the Uniform Franchise Offering Circular of the franchisor. Research the level of experience required to own and operate a business, evaluate the business you plan to buy as well as the time commitment you can invest in the business, research the franchisors failures and successes, compare the franchisor to others, understand the terms and conditions of the contract and review the financial condition of the franchisor.
How do you explain the success rate for a franchised business?
When establishing a business plan, a franchisee should consider both the support from the franchisor combined with the dedication and hard work needed to construct a blueprint for successful business.