Franchising vs. Start-Up
As a franchise consultant, I’m frequently asked, “What are the benefits of purchasing a franchise versus a start-up”? There are many, however, some of the ones that are at the top of the list are:
• Proven system of operation – An attractive feature of most franchises is that they have a proven system of operation. This system has been developed and refined over time by the franchisor.
• Name recognition – Established franchisors can offer national or regional name recognition.
• Management assistance – A franchisor provides management assistance to their franchisees. This may include accounting procedures, personnel management, facility management, etc.
• Developing a business plan – Most franchisors help franchisees develop a business plan. Many elements of the plan are standard operating procedures that have already been established by the franchisor. Other parts of the plan are customized to the needs of the franchisee.
In addition to the above, franchisees are provided assistance with financing, marketing, and general start-up.
The experience of the franchisor’s management team increases the potential for success. This experience is often conveyed through formal instruction and on-the-job training.
Contact me to discuss this in more detail and to learn how franchising may be a great fit for your long-term goals.
JUMP INTO OPPORTUNITIES! Franchise businesses benefit the owner, their family, and their community.
The International Franchise Association has done comprehensive research on the Value of Franchising and found that the franchise model:
• Drives 1.8 times higher sales than comparable non-franchise establishments
• Provides 2.3 times as many jobs than their non-franchise counterparts,
• Passes their success on to employees in the form of higher wages and benefits and greater opportunities for advancement.
Do you qualify? Contact me today to find out the opportunities available to you.