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Franchise Opportunities

Posted by trinda On January - 19 - 2016

Is a Franchise Opportunity Right for Me?

The question you may have is whether a franchise will be right for you and if so, why you would pay a franchisor for a business you may be able to set-up yourself.

Here are the top reasons to select a franchise opportunity if you want to own your own business.

  1. Franchisor Track Record. A good franchise company has developed a method of doing business that works well and produces results. A franchise brand that has been around for a long time has already gone through the stages of understanding who is the right fit and what the successful business model looks like based on early franchisees in the business. In joining a more established franchise you are not the pioneer which results in higher rates of success.
  2. Your chance of success is much higher. The bottom line is a franchise is more likely to succeed than an independent start up, and the security of investing in a proven concept is worth its weight in gold. With a franchise, the chances of success are dramatically increased because you have the support of the proven system. The franchisor has already taken most of the risk.
  3. Training and Support. Franchise companies have staff dedicated to providing ongoing assistance to franchisees. Many franchise companies offer support through live chat, trainers and mentoring from more experienced franchisees. You’re not alone when you’re building and running your business, and you can always call on experienced people when you want to share new ideas for growing the business or need help with your own. A good franchisor understands that there are exponential improvements that take place when franchisees are connected and sharing best practices. In business for yourself but not by yourself. Look for a system that fosters on collaboration.
  4. Portability Some franchise businesses offer the ability to move or relocate from state to state or even to another country. With many baby boomers parents hitting an age where you need the flexibility to relocate and potentially play a more active role in there care or simply just spending that extra time with them this portability concept is becoming more important for many.
  5. No previous experience needed.  No previous experience in a particular business is necessary for a franchisee to operate it. However an established franchise brand will know based on history who their most successful or ideal candidates are and will be more favorable to awarding a franchise to this type of person. Any lack of knowledge on how to run a business is not a problem as a franchisor will provide the necessary training to the franchisee.
  6. Hit the ground running. Franchisees “hit the ground running” as they enter the market with a brand, marketing materials, proven business systems and products and or services which have been market tested over the franchisors tenure in business.
  7. You can be your own boss You can call the shots, you can have work/life balance and attend your sons soccer game, you can have control and you can build equity in your own business. If you follow the business system and use the support systems in place, chances are you will be your own boss for a very long time.

While buying a franchise does reduce your risk going into business it doesn’t mean you hang the sign and wait for things to happen. Just like university why do some pass and some do not? Why do some get 50 and some get 90 when they are learning the same things, have the same resources and the same professor? It’s simple what you put into your business is what you will get out of it!

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