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Top Questions Your Family Will Ask When Opening a Franchise Business

Top Questions Your Family Will Ask When Opening a Franchise Business

Considering opening a franchise business? Learn how to answer three of the most common questions entrepreneurs’ families might ask.

Now more than ever, many entrepreneurs believe there are good opportunities for starting a business within their community. In fact, according to the latest Global Entrepreneurship Monitor report, there are 30 million Americans starting or running a new business in the United States.

Opening a franchise business can be a great way to capitalize on all this opportunity and dive into business ownership. Joining a franchise network lets you be in business for yourself but not by yourself, meaning you have the support and guidance of the franchisor to help you along the way. Not all opportunities are created equally, though. It’s important to carefully research and evaluate to find the best franchise business for you. No doubt your family will have some questions and concerns as well. Here are three big questions you should be prepared to answer.

How much will this cost?

The cost of opening a franchise business varies widely depending on the industry, brand and operational concept. Typical franchise fees run about $20,000-$30,0000 although more established brands can be $100,000 or more. This initial one-time entry cost grants the rights to operate under the brand name, use the franchisor’s operating system and receive ongoing management, training and marketing support.

Once open, there are also ongoing fees associated with the franchise business model including royalties and contributions to an advertising fund. Royalty fees are generally paid at regular intervals, usually weekly, monthly or annually and are calculated as a percentage of gross sales, but they could also be fixed or based on another fee structure. Some franchisors also require a monthly contribution to a collective pool of funds used to market the brand. Like royalties, the advertising fee is typically calculated as a percentage of gross sales.

Some franchise brands offer a variety of location types to fit the needs of their franchise owners. Fees vary based on the type, size and location selected. For example, The UPS Store offers unique non-traditional options that allow operations to be set up within larger properties like hotels, convention centers, colleges and military bases. They have expanded this concept to also include store in store locations that allow franchisees to set up centers in existing small businesses like a neighborhood pharmacy or hardware store.

How will we pay for it?

Securing financing to open a franchise business can be one of the biggest hurdles potential owners face.

Many franchisors extend discounts to veterans, minorities and women. Some also offer special incentives that can include lower franchise fees and/or royalty payments or limited-time deals, deferred payments, money-back guarantees and other promotional allowances.

In addition to discounts, larger franchisors may also offer in-house financing solutions to help their franchisees get their business off the ground. Some provide the capital directly and others have established partnerships with specific lenders to help expedite the loan process for their franchisees.

Other alternatives for financing are SBA loans and term loans from a bank or alternative lender. SBA loans are partially backed by the U.S. Small Business Administration. The reduced risk to lenders incentivizes them to offer more loans with lower interest rates and longer repayment terms than they would typically offer. A term loan from a commercial bank provides a lump sum of cash up-front that you repay, plus interest, in monthly installments over a set period of time. The bank will base their approval on your business plan and personal credit history. Alternative lenders typically have less stringent requirements and shorter turnaround time than traditional options, but they tend to offer smaller loan amounts that carry higher interest rates and shorter repayment terms.

What is the work-life balance?

The hard work and commitment required to run a successful business could leave your family concerned about the work-life balance you will have as a franchise owner. However, owning your own business can actually give you the freedom to set your own schedule, improving flexibility and the amount of time available for personal activities. See what Rick Hildebrandt, a The UPS Store franchisee had to say about his experience in an interview featured on

In addition to providing greater flexibility to allow for a better work-life balance, being a franchise owner can also be good for your family by providing an opportunity to work together. Whether becoming business partners with a family member or exposing children and teens to hands-on experience, running a business with family can be an enjoyable experience with many advantages.

Opening a franchise business is an exciting although somewhat intimidating endeavor. It’s crucial to thoroughly research to find the right franchise system to achieve your goals and suit your family’s needs. Attend franchisor discovery days and talk to current franchisees to learn more about how your expectations may align with the reality of the business. Look for franchisors with an established brand name, a proven track record of success and commitment to the success of their franchisees.

2023 Entrepreneur's Franchise 500 Top Rated for Veterans badge

We Proudly Support Our Veterans

Participating partners with the VetFran program, The UPS Store offers qualifying veterans $15,000 off their franchise fee to start their new business. To learn more, contact The UPS Store Franchise Development Team.

Entrepreneur's Franchise 500 Ranked #4 in 2023 badge

Ranked for over 30 Consecutive Years

The UPS Store has been ranked #1 in the postal and business services category for over 30 years and remains in the top 5 overall for the seventh consecutive year according to the Franchise 500 list.

Kristin Howard

Franchisee, Michigan

The reason my husband and I decided to go into franchising and specifically with The UPS Store, is the different opportunities we're given with the business. The UPS Store has name recognition as well as opportunities to expand.

Debbie Adams

Franchisee, Kentucky

What I enjoy most about being a The UPS Store owner is working with my customers. We are the solution specialists for our customers.

Jim George

Franchisee, Illinios

My favorite part about The UPS Store network is the camaraderie with other franchisees. Everybody loves to help everybody else. You’re really part of a family.

Greg Murray

Franchisee, Florida

The interesting thing about The UPS Store is that when a customer walks through the door there's an extremely high probability that they're coming there to do something that is important to them. So at the end of the day, what we do for customers is very important and they are trusting that we are going to do it well.

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Mariana Huberman

Franchisee, Washington, D.C.

One of the things that I love about The UPS Store franchise system is that you're not ever in this by yourself. The franchisees of The UPS Store network are great.

Heidi Morris

Franchisee, Colorado

The thing I enjoy most about being a The UPS Store franchisee is I get to get up, go to work and know that I'm helping other business owners succeed in what they're doing.

Bob Brown

Franchisee, Tennessee

Owning a The UPS Store franchise has changed my life because it's finally given me the opportunity to engage my customers and my staff and be able to take real pride in what I do. As a franchisee, we get faced with solving peoples' problems every day and we do everything we possibly can to try to help.

Marie Jensen

Franchisee, Oregon

My favorite thing about The UPS Store is the variety. I love the variety of customers, I love the variety of services; getting to know the customers, meeting their needs, finding out how we can help them accomplish what they need to accomplish and seeing how happy they are. That makes me ecstatic.

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Tad Mollnhauer

Franchisee, Florida

With the products and services that The UPS Store provides we can make a difference in people's lives and that is the best reason for being a The UPS Store owner.

Joy Batchelor

Franchisee, Idaho

What makes being a The UPS Store franchisee worthwhile at the end of the day is the customers. The customers treat us like we're family.

Paul Erchinger

Franchisee, Texas

One nice benefit of owning a The UPS Store franchise for me has been that it gives me the opportunity to be more involved in the community. As I make relationships with others it seems like no matter what the environment is, in one way or another business comes out of that and that's not my objective—it's been a secondary benefit to being involved in the community.

Chris Reminder

Franchisee, Ohio

There are several things that I really enjoy about being a The UPS Store franchisee. First and foremost it allows me to get to know the people in the local community and that is a lot of fun. We get to see people on a regular basis. We get to know their life stories. That's a lot of fun.

Bruce Jones

Franchisee, Kentucky

Since we have joined The UPS Store, our life has changed by just having more time to spend together as a family. We've been very fortunate with the stores that we have and we have a great staff that looks out for our best interest and we look out for theirs.

Lonnie Williams

Franchisee, Oklahoma

What makes The UPS Store so successful is it gives each individual an opportunity to grow with the network and just meet the challenges that are brought to them on a daily basis. Every day gives us a new opportunity to help another person, to help another small business, to answer a question and to solve a problem.

Jeff Graham

Franchisee, Alabama

I love my customers. I love my employees. I love every person, every face that comes into my store. I enjoy every day going into work and I can't see doing anything else for the rest of my life.

Stacie Stigar

Franchisee, Alaska

I think that this franchise is so successful because of all of the resources that are available to us as center owners—we have marketing materials, we have so many different opportunities for help from the home office, and it just really makes for a great franchise.

Don Pollard

Franchisee, New Jersey

I think the thing that makes this franchise successful is a number of things. First of all we have an outstanding system, we have a great product, a great brand, and we're able to attract dynamic people to run these centers and run the business. So I think when you put all that together it really provides for a winning combination.

Mary Ellen Nichols

Franchisee, Tennessee

The thing I love about the franchise is that you have the UPS name backing you but yet you also have the autonomy to make your own decisions to promote.

Laura Griffin

Franchisee, Florida

In the eight short months I've owned my The UPS Store it has really changed my life. I've gone from being an employee of someone else to being an employer of my associates. It's a big responsibility but it's exciting every day.

Sandy Scandrett

Franchisee, Wisconsin

Being a The UPS Store franchisee has improved every aspect of my life. It's very rewarding financially, professionally, and emotionally. I have a large number of regular customers who are really, really appreciative of everything we do.

Kristie Robison

Franchisee, Alabama

I would say owning a The UPS Store location has changed my life to where I have more time and flexibility. In owning your own business you get your store up and running and you get employees that you can trust that are going to help keep your store running. This allows me to attend my two boys' ball games and also travel and do things with them so it has really changed my life for the better.