THE BASICS OF FRANCHISING
If you have been considering investing in a franchise, here is the information to help you decide whether this form of entrepreneurship is right for you.
1. Starting a business from scratch seems intimidating.
The risk involved in starting a business from nothing is very high. You are entering uncharted waters and there are many variables outside of your control. It is hard to prepare for what to expect, because anything can happen. For this reason, franchising might make more sense to you. Good franchises are built upon a successful and proven success model. In many cases, as long as you follow the blueprint, you could achieve success.
2. Building a brand takes time
Building a brand is something that does not happen overnight. A lot of time, experience, and marketing goes into establishing a brand. This is another reason why franchising may be appealing to you. The marketing has been laid out and there is an existing brand that you can become part of.
There is no comparison for great experience in business. Many franchises are created by industry pioneers that have used their experience to establish a profitable business model. Often times there is no need to reinvent the wheel. Taking advantage of industry experienced experts and relying on their know how, is what franchising is all about.
4. Turnkey Operation
Franchise opportunities usually have a turnkey operation where everything is already laid out on the table such as: equipment, financing, marketing, contract/legal, real estate, builders, training, payroll, human resources, etc… It is just a matter of following the plan in place.
Those that have owned their own business no how difficult it is at times. Being in business by yourself is often time frustrating. There is no one to guide you through the dark times and help you get over those hurdles. Franchising is basically being in business for yourself but not by yourself. Good franchises provide great support to help you be successful even throughout turbulent times that can be present due to the market, competition, consumers, etc…