Franchising is a method of earning a good living and it is popular throughout the world. And it would probably be more popular still if more people understood how it worked.
With that in mind we are going to look at 5 reasons why franchising is a great career choice, and hopefully learn a little more about it as we go along…
With franchising a business has a proven track record
Starting a new business from scratch is hugely exciting; the world is your oyster and you are full of optimism and energy. Yet still, the majority of startups do fail. One problem is that they have no proven track record. Even with research you can’t know how a business will perform until it begins trading.
This is where the franchise has an advantage. If you purchase a franchise, becoming a franchisee, you take on a business that you know is successful and which has a proven business model.
2) With franchising training programmes are provided
Purchasing a franchise also benefits you by giving you access to training from the people who run your parent company – the franchisors. This training and the processes that they will show you should put you in a fantastic position to build your business and succeed.
3) With franchising you get a well known brand
Another downside to starting your own business is that nobody knows who you are. You have to create a brand, get exposure offline and online, put money into marketing and branding. But with a franchise you have a well known name already, meaning you can get straight down to selling or providing the services that you offer, without the worry of gaining people’s trust first.
4) With franchising you can avoid the risks of other new businesses
We have touched on this already but it is worth revisiting the benefits of avoiding risk in a new business. Most startups are hugely risky and the statistics prove that even with the best plans and working all the hours available, businesses still fail. A franchise takes much of the risk out of starting up on your own.
5) With franchising you get ongoing support
Franchisors want you to success so they have dedicated staff ready and waiting to give you the help you need to do just that. Clearly with other business models this is not available, without a hefty cost attached at least.
So there are just 5 reasons why franchising could be the career for you. Franchise opportunities run from fast food outlets like McDonalds and Subway to vending machine retailers like Tubz and even car repair garages. There is plenty of choice so do your research, ask more questions and think on about the benefits of franchising.
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