Based on what we know at FranNet of DFW & Oklahoma, launching an entrepreneurial future can be a very exciting time in your life. An opportunity to embark upon a journey that’s all your own. Franchising your way to business ownership offers multiple advantages over starting from scratch, but there’s something else to consider as well. When presented with an opportunity such as business ownership, most individuals prefer to follow their passion – doing something they love for a change. And with more than 3,000 different franchise concepts on the market today, there’s no shortage of choices.
Included in these thousands of opportunities are what are known in the franchising industry as emerging brands. New concepts, recently launched, that have yet to spread and proliferate their way across the U.S. For many entrepreneurial-minded business owners, emerging brands offer the chance to secure a ground-floor opportunity. In this week’s FranNet of DFW & Oklahoma blog, we look at some of the additional benefits you could take advantage of with new and emerging franchise offers.
Fragmented Marketplaces
The majority of emerging franchise concepts operate in fragmented marketplaces and industries – places where there are simply no dominant brands. In lieu of an established industry leader, the marketplace is wide open for competition and all you need is to be the business with a better mousetrap. With an emerging brand, you may have the opportunity to control the narrative and forge your own path to market domination in your own community.
A Closer Relationship
Getting a franchise concept off the ground takes a lot of hard work, market research, and the development of a proven business model designed to help the first round of franchisees succeed. And being one of the first franchisees puts you on the ground floor – primed for success if and when the brand goes big time. Another perk? You’ll likely have a much closer relationship between the franchisor and franchisee. This level of personalized attention can do wonders for those looking to establish a sustainable operation and grow it to scale. Just think – the franchisor’s executive leadership has a vested interest in seeing you succeed – like all franchise opportunities. But it’s even more so when you’re dealing with a brand-new franchise concept.
Advantages!
Emerging franchisors may be more open to offering additional perks to their newest franchisees. Think about what you might stand to gain as it pertains to your operating territory and the opportunity to be one of the original members of the franchisor’s advisory council.
The advantages of franchising with an emerging brand can be a big plus for first-time entrepreneurs. Yet that doesn’t mean you’ll be without some unique challenges. You’ll face obstacles such as name recognition, lack of a track record in business, and uncertainty as it pertains to certain benchmark performance standards. But at the end of the day, you know the mantra – no risk, no reward. To find out your suitability to investigate the positives of franchising with an emerging brand, let FranNet of DFW & Oklahoma be your guide. Together, we can help you navigate your way to the ground-floor business opportunity of your dreams.
Let’s Chat!
If you’d like to know more about franchise opportunities and ownership, please get in touch. FranNet of DFW & Oklahoma is uniquely qualified to match your potential with the possibilities that come from small business ownership through franchising. All you have to do is allow us to be your guide. Our no-cost, no-obligation consultations have helped hundreds of entrepreneurs in North Texas and Oklahoma secure a future that belongs to them and them alone. If you’d like to get started on your own entrepreneurial journey, we’d love to introduce you to a whole new world of possibilities through franchise ownership.