Fundamental Issue

[Adam Lanier]

Hello, this is Adam Lanier. Please forgive the simpleness of the posted question as this is my first post on this site and I am new to the buisness of entrepreneurship. I pose this question to determine the plausibility of a joint franchise endevour created between a father and a son. My father plans to buy a franchise and allow me to work as the manager. I would like to know a broad estimate of the owner's expected income around the Houston area, and whether opening a franchise in such economically unstable times may be a risky venture. I may have follow up questions, but sincerely appreciate answers to these questions.

In graditude,

Adam

[mthomas]

Hi Adam, welcome to the forums. Your question (about expected income) is difficult to answer without more information. What business/franchise are you looking to open? I would also be interested in knowing:

-What industry is the business in?
-What products are you selling?
-Who (and what demographics) are you marketing the product to?
-Who are your competitors? How are they performing? Who are they marketing to?

Answering some of these questions and understanding the general environment of your business and industry may answer your income projection question for you. If not, knowing the answers to these questions may guide the other members of the forum (including myself) in helping you in determining where to look for income information.

As per the economic effect on your prospective business, it does depend on the industry and the area, but I personally would be optimistic. I feel entrepreneurship offers a unique opportunity to be more flexible during uncertain times so you can more easily wade through the current turmoil everyone is experiencing.

Good luck!

[Adam Lanier]

Thank you mthomas for your response and the time you put into my question. I don't have answers to all of your questions, as my father and I are still in such early stages of the frachise purchasing process. I now realize that my question was mainly to scout out the community at youngentrepreneur.com to determine it's friendliness and knowledge, which I now see is first class. Thanks again for your answer and if I have any more questions in the future, I know who I can ask.

Adam Lanier

[mthomas]

Not a problem, any time. One word of advice is to never underestimate the power of some preparation and market research. It will save you time and money in the long run.