If you are concerned about whether or not franchising is appropriate for meeting your financial and career goals then there are a number of aspects to franchising that you should probably take into account. There are quite a few perks to franchising under a well established brand name. These unique benefits increase your chances to succeed in business and minimize the risk to your investment into your business.
When you become a franchise owner you can also benefit from a wide range of marketing support from your franchiser. Most franchisers run large advertising campaigns and have much more money to put into marketing than an independent business owner could ever realistically invest.
Pay attention the television ads next time you watch television. There is a distinct difference between ads for name brand restaurants and fast-food establishments and the ones that are independently owned, isn't there? Which ads do you find more appealing? The million dollar ad campaigns from the franchising organizations, of course. The independent businesses just can't compete when it comes to marketing.
The single most important aspect of franchising that gives franchisees an edge over independent owners is that when you open a franchise you start you business with a pre-existing large customer base. Bringing in customers is one of the biggest challenges that face new business owners. However, when you start a franchise, the public is already aware of your business, the products that you offer and quality that they can expect from your establishment.
Access to Support
As a franchisee you also have access to a large network of support. Independent business owners are left to slog through the troubles that confront new businesses and scramble to find solutions on their own. On the other hand, franchise owners can draw on the experience of others who have owned franchises under the same name and have experiences the same setbacks.
It's not hard to see which of the two, the independent owner and the franchisee, has it easier. Though the franchisee may be new to business, in many respects he's got the same benefits already as if he had been in business for many, many years - a well established business and practical know-how.
There are numerous other benefits to franchise ownership, as well. The franchise owner seldom has to go through the hassle of hunting down suppliers and looking for the best deals. Franchisers generally supply a list of trusted and reliable suppliers.
The franchisee also often has access to special training that the independent owner does not. The independent business owner is limited to picking up information through trial and error or through exhaustive research. To help their businesses succeed many franchisers hold seminars and special training courses to give their business owners and edge.
As you can see, there are a great number of practical benefits to going into business as a franchisee, rather than going it alone. The cost of establishing and running a franchise may be marginally more than to run a business on your own, but the safety and support improves your chances of really making it in the market.
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