Tech businesses continue to increase in number and expand in nature. They are among the most popular business ventures considered by aspiring entrepreneurs. For those who would rather rely on a proven business formula, choosing the right tech franchise is the way to go.
Finding the right one can be a little challenging among the many tech franchises being offered today. With relevant information and some feedback from people who actually have experience with specific tech franchises, those who are looking into opening one will find it easier to decide. It would be important to look into the most successful and popular tech franchises existing today.
Radio Shack
This is a franchise of electronic retail stores in the US as well as Europe, South America, and Africa. It was started in 1921 with one retail store and mail-order operation. Today, franchisees can invest anywhere from $145,875 to $607,352 , franchise fee of $ 39,900, and an ongoing royalty fee of 7% to operate a Radio Shack franchise for 10 years subject to renewal.
Rapid Refill
Rapid Refill is an inkjet and toner cartridge replacements business. Businesses of this nature enjoy the unlimited need of people for printed materials. Total investment would amount to about $105,650 to $161,450 plus a franchise fee of $35,000 and an ongoing royalty fee of 6% for a 10 year agreement subject to renewal.
TeamLogic IT
TeamLogic IT offers IT managed services for small and medium enterprises. The franchise would need from 2-5 people to operate the business. Total investment is estimated at a minimum of $83,900 to a maximum of $137,800 plus a franchise fee of $ 40,000 and an ongoing royalty fee of 7%.
The above three have been listed as the Top 3 by Entrepreneur . Others that made it to the same list include Multivista, a business about photo, video & webcam documentation of construction projects; and ArchiveIT Franchise Corp, a digital document storage services business. Other possible tech business franchise options include cellphone and wireless device accessories, technology education, mobile computer repair services, business technology consulting, electronic device services, website design, graphic design, electronics buying and recycling, and Internet services.
Important Reminders in Choosing a Tech Business Franchise
All business franchises will have specific documentation and system requirements. It is important for franchisees to have the right mindset when they do decide to enter a franchise agreement. There are rewards to a franchise business but they will only be realized through hard work and at least a couple of years of waiting.
