9 Reasons Franchising Makes Sense
Updated: Apr 10, 2018
It's said that some people are born to be entrepreneurs. They were the ones outselling everyone else during every fundraiser. By the time they could ride their bike they were out delivering news papers and not long after they were hauling their lawn mower around the neighborhood. From the moment they first started thinking of careers they desired to start their own business, build it into a success and they were willing to out hustle and out work everyone to make their dream a reality.
For others though, starting a business seems like a daunting task. You aren’t sure where to start, what business plan to follow and the risk of failure is intimidating. If this is you but you still have that desire in your heart for the freedoms that come from entrepreneurship then here are 9 reasons franchising is perfect for you.
1. Proven successful business model: A solid franchise company has developed a business model that is operationally efficient and produces a positive return on investment. A key benefit to franchising is they will provide you with a packet of required disclosures that allow you to understand the results of current stores and the potential your franchise will have.
2. Brand Equity: One of the competitive advantages of franchising is joining a company with an established brand presence that draws customers to you. There is power in opening a business where potential customers already recognize the brand.
3. Established Training Programs: Buying into a franchise with an established training program allows you to bypass the costly learning curve that comes with starting a business from scratch. You will learn the most efficient and successful ways to run your franchise from day one.
4. Ongoing Support: In every business issues arise. The beauty of franchising is you will have a support team who has experience to help you navigate and overcome those issues.
5. Marketing: Established franchises understand their products, their customers and what drives revenue. Having an experienced team with a proven strategic plan to attract and build relationships with customers is key to your success.
6. Real Estate Guidance: Finding the right site and then negotiating the best deal on your site is key to the success of any site-driven business. A franchise will have manuals and dedicated staff to help you locate and negotiate the best deal possible for you.
7. Construction Guidance: Now you found the right site at the right price, what’s next? When franchising you get the benefit of having an experienced team to design the layout and help identify the right contractors to do your build out. You will also receive a guide for your furniture and equipment needed to maximize your initial investment.
8. Buying Power: The buying power of a franchise is second to none as they leverage the purchasing of their entire system to negotiate prices for everything you need at significantly lower rates than you could achieve on your own. This is true for everything from the initial furniture and equipment to the supplies, inventory, uniforms and all things you will need on a regular basis.
9. Low Risk: We no doubt saved the best for last. The biggest reason to buy a franchise is if you choose properly you will avoid much of the risk that come from starting a new business. This does not minimize the amount of work that must be put in but by taking a good look at the business you can understand upfront with a good amount of certainty the results you can expect when combining your work ethic with the proven business model of your new franchise.
No matter what starting a business is tough. As you can see from this list there are a number of factors that will contribute directly to your success or failure. It makes sense to partner with a brand that has already overcome the obstacles that come from starting a company from scratch. Lean on the experience of those who have gone before you to set yourself up for success. For all these reasons and many more I encourage you to visit www.HTeaO.comto learn more about a turn key franchise opportunity.