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Network In Action Franchise ProfileBusiness Services Franchises > Consulting |
How To Open a Network In Action Franchise?
To start your journey as a Network In Action franchisee, you'll need to pay an initial franchise fee of $35,000. This fee is non-refundable and is required at the signing of the Franchise Agreement. You will also need to establish three Network In Action Groups within a designated territory. The first group must be operational within 90 days of signing, with subsequent groups following based on membership growth or time limits. Initial training will be provided, helping you understand how to effectively facilitate networking and referral services.
What Might Make a Network In Action Franchise a Good Choice?
Before investing, it's crucial to evaluate the financial and operational aspects of a Network In Action franchise. The total initial investment ranges from $37,710 to $42,700, which includes the franchise fee and other startup costs. Additionally, franchisees can expect to pay a royalty fee of 15% on gross revenues, subject to minimum payments that increase over time. The franchise model emphasizes support, including training and marketing assistance, making it suitable for individuals who are passionate about building professional networks.
Why You May Want to Start a Network In Action Franchise?
Network In Action offers a unique business model focused on professional networking and referrals. It operates under a well-defined system that provides franchisees with the tools and training needed to succeed. This franchise is ideal for outgoing individuals who enjoy connecting people and building relationships. The support from the franchisor includes ongoing training sessions and marketing resources, which can significantly enhance your business's growth potential.
Is Owning a Network In Action Franchise the Right Move for You?
Owning a Network In Action franchise involves not only a financial investment but also a commitment to building and managing multiple networking groups. The franchise system has shown growth, with an increase in outlets from 80 to 97 over the last three years. However, prospective franchisees should be prepared for competition, as the franchise does not guarantee exclusivity in their territory. A thorough understanding of the local market and networking dynamics is essential for success in this franchise .
Network In Action Franchise Financial Requirements
Below, you’ll find an overview of the initial investment needed to launch the business, along with the ongoing fees required by the franchisor to maintain operations over time.
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Network In Action Franchise Unit Growth Summary
A breakdown of corporate, franchised, and total units, with yearly net changes shown in the chart and table.
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| Units | 2021 | 2022 | 2023 |
|---|---|---|---|
| Total Units | 6 | 6 | 6 |
| Net Change YoY | 0 | 0 | |
| Franchised Units | 3 | 3 | 3 |
| Net Change YoY | 0 | 0 | |
| Corporate Units | 3 | 3 | 3 |
| Net Change YoY | 0 | 0 |
Company Background
Network In Action is a unique franchise chain that focuses on creating and fostering business networking groups for entrepreneurs and professionals. Established with a vision to connect individuals and help them grow their businesses through meaningful relationships, Network In Action has rapidly expanded across the United States. The franchise emphasizes a collaborative approach, allowing members to build strong networks while receiving valuable training and resources to enhance their networking skills and business acumen.
Franchise Opportunity
Joining Network In Action as a franchisee presents a compelling opportunity for individuals passionate about networking and community building. The franchise model is designed to empower entrepreneurs to facilitate local networking groups that drive business referrals and support among members. With a low initial investment compared to traditional franchises, Network In Action offers a flexible business model that can adapt to various market conditions, enabling franchisees to create thriving communities of professionals.
Corporate Structure
Network In Action operates under a well-defined corporate structure aimed at supporting its franchisees effectively. The parent company is organized to provide comprehensive training, marketing support, and operational guidance to franchisees. Each franchisee operates their own networking group while adhering to the brand's standards and practices. The corporate headquarters is located in Houston, Texas, where the company centralizes its resources to foster growth and innovation within the franchise network.
Royalties
Franchisees of Network In Action are required to pay a royalty fee of 6% of their gross sales. Additionally, there is a marketing contribution of 2% of gross sales, which helps fund national advertising campaigns and other promotional activities. This structure ensures that franchisees benefit from a solid marketing foundation while contributing to the overall growth and visibility of the Network In Action brand.
Company Mission
Network In Action is dedicated to empowering entrepreneurs and professionals through meaningful networking experiences. The mission is to create environments where individuals can connect, collaborate, and thrive in their businesses. By fostering authentic relationships and providing valuable resources, Network In Action aims to enhance the entrepreneurial journey for its members, ultimately leading to increased referrals and business success.
Brand Story
Founded by a team of passionate entrepreneurs, Network In Action began its journey with the belief that genuine connections could transform businesses. The brand's innovative approach to networking has resonated with professionals looking for effective ways to grow their ventures. Since its inception, Network In Action has been committed to building a community that supports collaboration and mutual success. Through consistent growth and a focus on member satisfaction, the franchise has established itself as a leader in the networking industry, helping thousands of professionals achieve their goals.
Frequently Asked Questions
The total investment required to begin operating a Network In Action franchise ranges from approximately $37,710 to $42,700. This includes a franchise fee of $35,000 payable to the franchisor or its affiliate.