1. The odds are in your favor – five times higher!
There are no guarantees, but statistics show your chances for success are greater if you open a franchise than a startup. Based on statistical data.
2. Brand awareness.
Potential clients will purchase from a well-recognized brand. Which means it will take less time to establish your business.
3. Tap into instant expertise from the Franchisor.
A franchise is usually based on a proven business idea. This gives you a head start and helps eliminate a lot of trial and error and expensive guess work.
4. Tried and tested business model.
A good franchisor has established proven systems, Franchise Initial Training and will provide ongoing training and support in all aspects of the operation to become successful.
5. National Marketing.
National marketing undertaken by your franchisor will benefit all franchises. And this type of marketing in not normally available to a small business operators.
6. Purchasing power.
A good franchise will take advantage of its buying power to negotiate prices at significantly lower levels than you could achieve as an independent operator.
7. Assistance with physical build.
Design, layout, and space allotments needed to meet the requirements of the franchisor. This has all been figured out already to ensure cost containment.
Once you are part of a franchise operation, it is easier to become the owner of multiple franchises. And add multiple revenue streams to your organization.
9. Easier to obtain financing.
Banks are more comfortable providing finance to a franchise with a good reputation and proven track record. May offer other solutions for franchisee financing.
10. Rules of engagement.
Following the rules of engagement outlined by the franchisor will allow a path to profitability.