Haven’t Heard of Franchising? Let’s Define It for You

Jun 26, 2018 | General

Each day, our qualified FranNet representatives across the country are proactively pitching franchising as a viable option for owning your own business and becoming your own boss. And more than a few have reported that they routinely come across folks who simply don’t know what franchising is. That’s why we’re going to take some time in this edition of FranNet’s blog to define franchising and explore what makes it a suitable fit for budding entrepreneurs.

Just a few weeks ago, we looked at the three possible routes to business ownership. A person can start a business of their own from scratch. They can also buy an existing business and take it over. Or they can purchase a franchise. We know we sound biased when we explain that franchising presents the best opportunity for success, but let’s take another look at breaking down exactly why that is.

First, in support of all our FranNet representatives who have come across an entrepreneur who doesn’t yet know about the concept of franchising, we present a formal definition—courtesy of Entrepreneur.com:

A continuing relationship in which a franchisor provides a licensed privilege to the franchisee to do business and offers assistance in organizing, training, merchandising, marketing and managing in return for a monetary consideration. Franchising is a form of business by which the owner (franchisor) of a product, service or method obtains distribution through affiliated dealers (franchisees). 

The franchisor is the brand. The franchisee obtains the right to provide the product or service. But did you catch all the other benefits listed in the definition above? Organizing. Training. Merchandising, Marketing. Managing. Not to mention the full support of every other existing franchisee within the network. We call that validation.

Could you get those types of benefits if you started your own business from scratch? Nope. What about if you bought an existing business? That would depend on the generosity of the individual you purchased it from. Uncertain. But with franchising, you really do get it all—which is why we think it’s such an advantageous route for anyone considering an entrepreneurial journey.

For over three decades, FranNet has brought the concept of franchising to thousands of people, all of whom harbored the desire to own a business of their own. Our qualified representatives actually live and work in the same communities they represent. Which means if you’re a resident of Cleveland and you’d like to know more about opening a franchise, you’ll be speaking with a representative that lives in Cleveland. Someone who knows the city, the local market forces and the lay of the land, so to speak. It’s one of our key differentiators when it comes to providing meaningful franchise consulting.

Our outreach is both constant and consistent. If you haven’t already checked, now would be a good time to look at our ongoing calendar of in-person events, which we call seminars, as well as our online webinar series. Chances are, there’s one happening near you. If you’re in the market to investigate business ownership, each individual seminar topic will be of interest to you. In the end, we’d like to find out if you’d like to learn more about taking the franchising route to success.

If so, schedule a no-cost, no-obligation meeting with your local FranNet representative. Then, in answering your questions, we can truly define exactly what franchising is, and how it can change your life.

Let’s chat! There’s a local FranNet consultant right in your market who knows that market inside and out – knows the personality of the market – knows the competitive landscape. FranNet has a great track record of assisting individuals on their path to entrepreneurship, and one of our franchise experts would love to provide you with guidance free of charge. Sound like something you might be interested in? Get started here and find your local consultant right now!