You think you’re ready to take the plunge into business ownership, and then the big question hits you…
“Do I start my own business from scratch, or do I go with a business template, such as a franchise?”
This is a question that may not have a set answer for everyone.
First, you must decide if business ownership is right for you. Are you up to hiring and firing, managing employees daily, dealing with customers, and the general day-to-day behind the scenes work that every business owner deals with? On the flip side, are you ready for the potential freedom and money that business ownership could offer?
Second, do you have a great idea, and a plan to get it off the ground? Do you have access to the resources you’ll need to get up and running, and will give you the best blueprint for success?
Third, would you be more comfortable getting a head start on success by following the tried-and-true game plan you’ll get by buying into a franchise?
If the thought of #3 sounds enticing, here are three solid reasons why you should consider franchising as your path to business ownership.
Higher Success Rates
While taking your own idea from scratchpad to “Open For Business” may sound like the American Dream, there is no guarantee of success. In fact, the percentage of business failures in the first three years is high enough to make one take pause.
However, with the franchise model, you are buying into a business model that has already shown success and gives you the blueprint to follow. We know you’re in it for the long-haul, right?
Franchises have the name and branding that everyone is already familiar with. They already have a loyal fan base, and advertising that the public sees every day. This is something you do not get when you are opening the doors as an independent businessperson with a brand not yet developed.
Because the franchisor wants you to succeed beyond your expectations, they will provide you with all the training you need to take your business to the top. From hiring, employee training, administrative, payroll, sales and marketing, you will get all you need to give you the best chance at success.
If these reasons for buying a franchise seem attractive to you, take the next step and begin researching some of the great opportunities that await.
Want to learn more about franchising? Marshall Reddy can help you! Contact him at 502-530-0143, or email [email protected].