The
Benefits of Owning a Franchise
The benefits of owning a franchise vs building your own business
from the ground up are many. We've listed a few here that
you should find interesting...
Established Track Record
As a franchise buyer, you become part of a proven system of
operation. Your franchisor offers a concept with products
and services that have sold successfully. You have history
to learn from and to help you predict your own future.
Faster Start Up
You have a short learning curve as a franchise owner, because
you have assistance from a franchisor with lots of experience
to draw upon in starting other new operations successfully.
You and your personnel often get on-the-job instruction.
Less Risk
Your chances of failure are lower with a franchise operation,
because of the experience, expertise and proven resources
that support you in your business. Franchises succeed at the
rate of 90%.
Low Investment
Most franchises keep their front-end investment demands low,
which favors new entrepreneurs. Moreover, a franchisor will
often help new franchisees borrow by facilitating arrangements
with lending institutions, which look positively on lending
to franchisees because of their high success rates.
Purchasing Power
The group purchasing power of franchisees can make a big difference
in your costs of doing business. Large buying groups can typically
demand significantly lower prices on goods and services.
Name Recognition and Brand Awareness
With an established franchise, you get the benefits that occur
from marketing an established brand of products or services.
With a new franchise, you can grow and contribute to the creation
of the brand.
Business Support
As a franchisee, you will generally receive valuable, ongoing
business support, including site selection, training, recipes,
marketing, new technology and more. Franchisers will assist
you in developing a business plan, in learning the best ways
to hire and manage personnel, and in how to profitably manage
your facility.
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