How to Start TheHomeMag Franchise
Even publications nowadays are entering the business of franchising as they target getting a larger portion of the market.
Franchises of most publications helps in penetrating local scenes and thus enable the publication to be widely known in many parts of the country and of the world—this same principle guides TheHomeMag for entering in the franchising business.
TheHomeMag believes that franchising will aid in localizing the magazine and will help on broadening the operations of the company by covering larger portions for a global distribution.
TheHomeMag, as the name implies is more on advertising and promoting professional in the line of home improvement. The magazine also engages itself on advertising designs and products related to home enhancement. The system in franchising TheHomeMag is that you franchise the magazine itself and you, as the franchisee, will be the one to will serve as the publisher, but you may also have an option of hiring a publisher for your franchise. So technically, the success of the magazine is dependent on the publisher and his team which must publish the local version of TheHomeMag. The publisher and his team will be the one to drive also the marketing efforts of the franchisee with support, definitely, from the company.
To initiate franchising TheHomeMag, you need first to express your interest to the company and let them know your eagerness to be part of their growing company. Most likely, you will be advised to sign up an information or request sheet which is available in their office and website. The first inquiry can be through online and telephone conversation or you can drop at their office and make the inquiry personal.
Next, you will be contacted by the company for an interview to assess capability of owning a franchise of TheHomeMag. After assuring that you have the best interest for the business and will most likely run the business accordingly, the financial matters will follow.
TheHomeMag basically requires a franchising fee which ranges between $19,000 and $34,000. There is also an on going fee for royalty of 5.5%. On the whole, a total investment of $108,575 to $135,575 is needed to get the business going. The term of agreement is a 10-year renewable contract.
More over, there are also qualifications in terms of cash liquidity which is $169,000, knowledge running a business and, if at all possible, skills in drawing and carrying out marketing strategies. Marketing is a very important factor for the business since there is a very intense and tough competition in TheHomeMag’s line of business. The company believes that sales can best be improved by effectively marketing the business and delivering magazines that cater the interests and needs of potential customers.
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