subject: Wheel Fun Rentals - Franchise Review [print this page] Wheel Fun Rentals - Franchise Review
The company opened its franchising business in 2000 and now has more than 1,000 locations throughout the US and internationally. The company offers its franchisees an open or exclusive territory and has co-branding relationships with city and public parks. The company is looking for nationwide and international franchise opportunities.
Their services are perfect for persons on vacation and wanting to rent a bike to tour the area. The company provides pedaled, electric, and gas vehicles such as surreys, chopper bikes, beach and tandem cruisers, mountain and road bikes, electric Hummers, scooters, mopeds, and bike boards.
Customers can take guided tours by global positioning system, handheld GPS systems, boogie boards, beach chairs, canoes, bumper and pedal boats, roller blades, and wheelchairs. Some of their products are also available for sale. Franchisees receive extensive training on running their franchised business. The company also provides support to the franchisee such as site selection, retail design and layout, preopening, operational.
The total investment ranges from $85,000 - $259,000, while the initial franchise fee is $29,000. The term of agreement is 10 years/ renewable. They are looking for franchisees with general business experience. They feel this is important so that both of the parties will have a smooth relationship in this business endeavor and help to avoid legal issues. 75% of all the franchisees own more than one unit. The number of employees needed to run a franchised unit is 3 - 12 per location. Absentee ownership of franchise is NOT permitted.
A seven day extensive training will be given to both employees and the owner at their headquarters. The company offers ongoing support at the franchisees location and also supplies Newsletters, Meetings, Toll-free phone line, Grand opening assistance, Internet and Field operations/evaluations. Marketing support will also be provided such as cooperative advertising and ad slicks, this will improve and enhance sales capabilities.
When looking to start any business it is important, particularly considering today's market, that you look for specific ways to cut minimize or reduce overhead and risk. Any business is going to have risk, but it is important to have a full understanding of the amount of investment, startup cost and "ROI" (Return on Investment).
Most people are not aware that 80% of ALL franchise endeavors fail in the first two to five years leaving large debts looming for years thereafter.
One way and in my opinion the best way to cut overhead, startup and investment cost is to take advantage of the new age of entrepreneurship and start a business from the comfort of your home. Opportunities have emerged in the online market that are creating millionaires every single day. Learn more about the exciting opportunities tied to a business model that begins profitable by visiting: http://whatsbetterthanafranchise.com.
Thomas White is an internet coach and mentor, broker and past owner of multi-location franchises, dedicated to helping other achieve financial freedom leveraging the online market. To see his methods of creating an automated and thriving online business or how you can leverage the internet to send your existing business through the roof visit: http://whatsbetterthanafranchise.com.
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