When deciding which franchise is the best fit for you, FranNet is here to help sort through the different concepts and business models. When looking at the B2B, (business-to-business model) and the B2C (business-to-consumer model) are systems you should explore. They will differ depending on the franchise you’re interested in, however there are several general similarities. The following details are part of the evaluation process and should be talked about when interviewing your potential franchisors.
Normal Business Hours
A valuable component of owning a B2B or B2C franchise is the flexibility and control you will have over your hours. You have the option to operate during the same hours as your clients – Monday through Friday with normal business hours. If you’re looking for a way to balance family and work, this traditional schedule can be the solution.
Where You’ll Be Based
When looking at different types of franchises, you can choose between a home and office based business. A home-based franchise usually provides lower overhead and entry costs, removal of commuting costs, possible tax reductions and flexibility. However, possible negatives will be managing the distractions and remaining focused. An office-based franchise might have more cost initially, but will allow you to work closely with your employees. Either option will get the job done, all you have to do is pick which one appeals to you more.
Services vs. Products
B2B models benefit their owners by offering services that can be customized for any interested consumer. Because it’s business-to-business, you know exactly what your consumer wants and the overall volume of transactions is typically much higher than B2C transactions. B2C models sell products and provide services to end-user consumers. These services can be more flexible in the way of meeting the customers demand. Because of the constant, quick changes the market demands, this flexibility could be a very attractive component.
Use of Previous Skills
Most of your previously learned skills will be used in your new endeavour for both a B2B or B2C model. Many franchises will customize the training process to play off your skills and redefine them. A quality most franchisors strive for is the ability to communicate effectively with their franchisees and clients.
I encourage you to ask a lot of questions and talk to several current franchisees and potential franchisors to get a real sense of what to expect in the search for a franchise that is right for you.
Do you feel that you’re ready to get started? If this article has inspired you to investigate a franchise opportunity, perhaps it’s time for a free consultation with a qualified and experienced FranNet consultant. Make arrangements to speak with one of our representatives today!