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Opportunity in the Raw

Franchises are pursuing success with a renewed focus on saving money and greater value.

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This story appears in the January 2011 issue of Entrepreneur. Subscribe »

Amy C. CosperOn any given Sunday in New York City, the nation's financial base camp and incubator of creativity, the iconic spiritual leader of tourist attractions can be found entertaining the masses. Rain or snow, the Naked Cowboy strums his strategically placed guitar and belts out song after song to the delight of blushing tourists from Kansas, Florida and Texas. He never fails to deliver an unforgettable experience. And, really, who among us is not guilty of at least a furtive glance?

A well-kept secret is that the Naked Cowboy is a franchise. That's right: Naked Cowboy Enterprises offers potential franchisees the opportunity to license the brand for a $5,000 annual franchise fee, plus 20 percent royalty on tips and appearance fees. (See our October 2010 issue for a conversation with his lone franchisee, Naked Cowgirl Louisa Holmlund.)

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