If you are interested in stepping into the business world, you may be considering a franchise opportunity. After all, some of the biggest and most successful companies are franchised businesses. Subway, Fastway Couriers and Domino’s Pizza are very well known businesses which operate as part of a franchise organization. Perhaps you are monitoring key business trends and are interested in buying a cleaning franchise or staffing franchise? But why should you choose to start up a franchised business instead of going it alone? Well, here are 5 excellent reasons:
When you choose to buy a franchise rather than start your own business, you do not have to build your own brand. You are operating under a nationally known brand with a quality reputation. You do not have to spend hours devising a branding strategy and trying to get your name “out there”, your business is already well known and reputed for the products or services you offer. It is a known fact that customers prefer to shop with a company/brand that they are familiar with and trust. When you purchase a franchise, it comes with a ready-made reputation and customer recognition.
2. Quick Start-Up
When you set up your own business, there are so many steps to go through before you actually open your doors to the public. You have to look at several units as you try to decide on a location for your business. You have to try to convince financial institutions to invest in your start-up business. You have to choose the right shop fitters and manage them to ensure they meet deadlines. When you a purchase a franchise however, none of this is necessary. They will source the right location and kit out the unit for you with their branded shop fittings. You can get going with your business and be serving the public a lot sooner and with less hassle when you purchase a franchise.
When setting up a new business, hiring the right staff is of extreme importance. A franchise business with a brand and reputation that people are already familiar with is bound to attract better quality job candidiates than a new start-up. Most franchises will also provide staff training at one of their other outlets for you, an attractive feature for both you and your potential staff.
4. Greater Chance of Succeeding
As many as 1 in 3 start-ups fail and result in closure within the first 3 years of business. When you buy a franchise business, your chance of success is much higher than if you go it alone. A franchise business comes with the backing of a known brand, a proven system of operation, expert industry knowledge and a product/service which has been proven to attract both new and repeat business. These three items are key to business success. With a franchise business, you are much more likely to simply add yet another successful business to an already successful franchise chain.
5. Marketing & Advertising
When you purchase a franchise business, you do not have to worry about marketing and advertising. The franchise company will devise clever promotions and strategies for their franchisees. The franchise company may run television, national print and radio advertising to advertise their product/services – advertising which directly impacts your business. They also create high quality promotional materials such as menus, leaflets and posters for all of their stores too. If you were to go it alone, you simply would not have the budget to avail of such national advertising opportunities. You would also have to spend hours analyzing sales and consumer behaviour to devise the best sales and marketing strategies for your business.
About the author:
JWilliams Staffing offers franchise ownership opportunites for their real estate staffing and recruitment business.