wHITBY'FREE PRESS, Business Showcase, WEDNESDAY, I Boa sle ladto cange of name o Brolin CdeMarine *The name may be new but the service will remain the saine. Brooklin Cycle, located at the corner of Dundas St., E. and Athql, bas changed its name to Brookln Cycle Marine. The reason for the'change is that Brooklin Cycle Marine Iwil now be selling and sieri-cing boats., In fact, owner, Rob Egan says the business is no. longer just selling motorcycles. 'We now- seil tractors, boats, lawnmowers as well as motorcycles," says Egan. ,The move. into boat sales and service has been planned for two years, he says. ' fWe have been dloing servicing on boats for a while now. We have one of the most complete service areas on the premises, we do no subleting. Everything is done..on the premises," says Egan. So with the opening of an oùtdoor showroom at the rear of the* store for boats, he says the transition was natural. "Motorcycle sales have been going, down over the past two years due to many reasons including insurance. But it is expected to pick up in 1988, so we Franchise success By DOUG RORBINS If you really have your heart set on goi.ng into business for yourself, your best chance of. success is with a franchise. A fran chise Will provide al the things .you don't -normally expeot an individuaâl to have,- whether ieing down the b est so'urc es of supply or choosing ilie right loca- tion.» The type of franchise, doesn't matter. What you' ie buying is ac- cess to knowledge -and the, btter the kiowledge and trackçOr, týz botter 1the fr anchise. 1A good franchise company will train .you, help you locatethle busi- ness, help you build it, assist you in getting the right equipment - probably at a cheaper price than you could buy it yourself - assist you in hiring and training staff as, well as send, you to school for a few weeks to teach you> how to run the business. The franchisecompany should also assist youù in advertisinig and promotions and even assist you in arranging financing. A good franchiser has already made arran- gements with a bank to lcnd the franchisecemoney. It's also reasonable to expeet that the franchise company is doing on-going market research to keep abrcast of changes in society be- cause society is constantly chang- ing - not dramatically as every seven years but every 14 years there's a major shift in society. The, franchiser, in retumn, wili expect certain things from you. Usually they wiIl want you to work full time in the business. Even under the best of conditions, that's 60 or 70 hours a week. Second, they will want you to operate that business exactly as they tell you. They know how te run it profitably and they will ex- pect you to do it their way., Third - to provide the amount of money necessary to start up a business. Most franchise, com- panies don't want to operate -al their own stores because there is a need for on-site management. It's very hard té hire a manager who will do as good a job as an owner. That's one of the big things the franchise company is Io oking for. For your part, you, Will wanit to, know if the franchise company is financially stable, how long it h as been in business, how, lIongw the present management teamn has been with the company. What about your competition? Other services and products the franchise company might supply? How realisti c are the projections they make? Ask existinR franchisees 'how they're doing. What's your protected territory? Does the franchiser help you recruit, and train staff? Are they, going to Charge for marketing, studies or is that in- cluded 'in the franchise fees? Is theîi:..financial assita"eayW able? What about reniovaionis whèn the agreemnent expires?_ What about the operating, manual?. Is it provided? Is the franchise price variable? Are there quotas on the amcunt of business you have to do to rctain your exclusivity? Above ail, take.,a long, hard look at the product or service. Is there real]ly a demand for it? One of the things -we want to recognize is that franchise com- panic.s are selling a dream. They are selling you the means toearn .money, hopefully, a great deal of money. Is that dream rcalistic? Cther key questions:, Is there a rcncwal fcc on the con- tract? Is thcre a reasonable length of time for the contract? Do you have a minimal amount of mer- chandise to buy and seli each year? _What other payments do you have to make? What about the royalty .payment? Is it reasonable? Under what ternis and conditions can a franchiser terminate the contract? Does the franchiser purchase ail the equipment. after terminating the contract? At whatprice? Can you selI the business? Can you terminate the franchise agree- ment or pass it over to your family? Can you own your own real estate or do you have to lease it? Must you buy everything from the franieliser? Is there a procedure for scttling disputes? What are the arbitration costs? After you've gone t.hrough al the questions, take somne time bcfore you sign any agree.ment. Remember, you're going into a partncrship. Oct your lawyer and accounitant involved to spot 'any problcms you might un' into. Don't be afraid te discussthce matter in dtail With a banker -ý butniakec are looking for. a very busy summer," says Egan, who, along with his staff, had-an information booth, at the Toronto, Boat Show recently. Brooklin Cycle Marine will alsoý have -an information booth at the Ontario Fishing and Sportsmen Show to be held at the ý Metro East Trade Convention Centre from Feb. 24 to 27. Brooklin Cycle Marine is now comprised of 20,000 sq. ft. and besides adding boat sales, the business will no longer seli three-wheel aIl-terrain vehicles (ATV). ATVs were recently banned, but, according to 'Egan, their sales -had been steadily decreasing in the -past two years. Brooklin Cycle Marine wiIl stili seil four-wheel ATVs. J. Work on, expansion around Byooklin Cycle is expected* to be finished within a month, at which time Egan says it wllbe back to business. He says some. customers1 are not aware that the, business bas been open- during, the*,work but a new sign will. change that, says Egan. .Brooklin CycleMarine bas been located in Witby, since 1982. It can simplily your life. Whether you're remnodeling a kitchen or bath, refinishing a hardwood floor or removing wallpaper, renting can simplify your life. You'1I be amazed at the types of home improvement equipmeflt you can rent .. . from floor sanders to power saws . .. fro m carpet cleaners to wall- paper steamers . .. everything youneed to get the job done. Discover how we can save you time and money on ail your home care equipment needs. Discover rentinig and simplify your lîfe. DURHAM EQUIPMENT RENTALS 1230, DUN DAS ST. E.' (Speedy Auto Plaza) WHUTBY 668-0880 Ipower'im' EquipmentWf SEE PAGE 23ý 408 icuone.