The Top 7 reasons why Franchising is Better than a Brand New Business
There are many people these days that are considering breaking away from the restraints of a traditional 9 to 5 job and going into business for themselves. They find themselves with the option of starting a business from absolutely nothing or going into franchising and working under an already established brand name. There are obviously advantages and disadvantages for both options one must consider before making a decision. Advantages of franchising include:
1.) Using a tried and true business model that is available in franchising may save you a few costly mistakes which despite being learning experiences are still rather unpleasant.
2.)Financing is usually easier to obtain for franchising with much better rates and business opportunities are easier to come by.
3.) There are already marketing plans mapped out in a franchising business, as a result money will not be wasted on advertising and promotion, meaning more overall profit for you.
4.) Your franchiser can act as a business advisor and mentor to you in all matters of franchising you’re still not quite accustomed to.
5.) Franchising gives you the advantage of working under a recognized and established brand name which will give customers a sense of security and eventually result in more revenue.
6.) You can get involved with other franchisees in your network and all of you can exchange work experience and together help each other avoid common business pitfalls and mistakes.
7.) You will be able to buy requirements and tools through your franchising company for lower costs and as a result save quite a bit on expenses which is a major advantage.
So don’t make up your mind before taking these points into consideration and weighing them against the disadvantages and advantages of your other options.