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Why a Franchise?

Posted by trinda On May - 14 - 2015

Why a Franchise?

Worldwide, franchising is currently riding a wave of unprecedented global growth. For the right kind of person, franchise ownership can provide the perfect vehicle for achieving financial success freedom and control.

A franchise provides the opportunity to be master of your own financial destiny, while enjoying the support of an established organization and the resources it commands.

Statistics vary widely on the success/failure ratio of franchised versus non-franchised start-up businesses, but franchises invariably comes out on top. Let’s apply common sense: Comparing the payment of: (1) an up-front fee to buy into the support, reputation, and track record of a franchise system with (2) the research, development, and start-up costs involved in creating your own, independent business, the odds of survival clearly weigh in favor franchisees. A Franchise is about being in business for yourself but not by yourself.

Here are some of the top reasons people choose a franchise

The desire to control your destiny, to build a business for yourself and to have the freedom from layoffs and uncertainly in a corporate environment.

Franchising allows entrepreneurs to plug into a proven, successful idea and operating system, and focus their efforts on running the business, rather than on adjusting it in midstream. The wheel’s been invented, perfected, branded, and marketed so now you just plug yourself in.

Franchisors want franchisees to succeed. In fact, they need franchisees to succeed. That’s why intensive training is included in the franchise fee. After starting your business you will have a franchisor to learn on for on-going training, advancements in technologies and consistent support so you don’t have to figure what’s relevant and what’s not.

Peer support from fellow franchisees is an invaluable benefit of franchising. This is achieved in many cases by annual convention, regional meetings, intranet sites, e-learning and daily phone calls where franchisees can share tips, ask for help, and gain from the experience of older franchisees.

The power of an established well-known brand?  Marketing materials already produced and ready to use. Priceless!

Then there’s the final advantage: pride of ownership. Having a stake in the outcome of the operation, knowing that you will be rewarded directly for your efforts (versus pulling a salary), gives franchisees additional incentive to go that extra mile every chance they get.

Yes, franchising has many built-in benefits and advantages, but it’s not for everybody. Some people thrive on the challenge of being out there on their own, inventing a new wheel each day, making all their own decisions, answering to no one but themselves (and their customers and creditors). Others crave the structure, reduced responsibility, and perceived security of a day job they can forget about as soon as they punch out or close the door behind them. And others still thrive on the challenge of climbing the corporate ladder, being an integral part of a team.

As with all things, priorities and values change, depending on one’s station in life. Age, marital status, parenthood, and more can point a person in a new direction.

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