When you want to become your own boss, there are essentially three ways to do it. You can start from scratch and become an independent business owner, buy someone else’s operation, or choose the franchising option. Going the independent route means you’ll also be responsible for setting up all of the operational systems and processes. When you buy an existing business that’s for sale, it can be difficult to know what you’re buying into. But franchising has proven time and again to offer demonstrable advantages over the other two.
In general, franchise owners have a lower failure rate than their independent counterparts. In this week’s FranNet of DFW & Oklahoma blog, we’re going to share why that is. Keep reading for a roundup of seven reasons why franchising beats independent business ownership.
- A Proven Business Model
Franchises succeed because they’re wholly reliant upon a proven business model. All franchisees have to do is follow the pre-established blueprint for a roadmap to success. These business models feature consistent duplication of operations, systems, and processes that have been refined over time to perfection. This allows owners to focus on the most important task at hand – driving the business!
- Comprehensive Training
The majority of franchises on the market today (nearly 4,000) proudly state that candidates need no prior industry experience. That’s because they believe in the comprehensive training programs they’ve developed and refined. From the get-go, you’ll learn how to do things the right way through multiple training regimens and programs.
- Close-Knit Support
You’ve heard that teamwork makes the dream work, and nowhere does that statement apply better than to franchising. Franchisors go to great lengths to provide close-knit support – from the moment you sign your agreement through the lifecycle of your ownership. As they say in this industry – with franchising, you’ll be in business for yourself, but never by yourself.
- Networks
When you become a franchise owner, you’ll get access to the brand’s network of vendors, suppliers, and marketing prowess. This collective bargaining power helps streamline operations, lower prices, and increase profitability for the entire network of franchisees in the system. Which is certainly better than building your own network from scratch.
- A Family Atmosphere
Franchises have a vested interest in seeing each of their franchisees succeed, which is why you can count on a network of fellow franchise owners to help you in all aspects of your business. After all, who knows better than another franchise owner running an identical operation as yours?
- Lowered Risk
Franchise ownership is structured to lower the risk of going into business for yourself. You don’t need to create a playbook like independent business owners – it’s already there. These tried and true systems, along with proven business models, lower your risk of failure.
- You Really Can Get What You Want
Thanks to the sheer number of franchise concepts and business models on the market, prospective franchisees have the luxury of finding the perfect opportunity. The true art of the deal is locating a franchise concept that aligns with your personal preferences, lifestyle, and especially your income-generating potential.
FranNet of DFW & Oklahoma wants to know your opinion. Now that the new year is upon us, is change perhaps in the air? If entrepreneurship – or a career transition – is something you’ve been considering, it’s a great time to weigh your options. And with advantages like these, franchising can be your ticket to business ownership of your own.
Let’s Chat!
If you’d like to know more about franchise opportunities and ownership, we’d like to hear from you. We are uniquely qualified to match your potential with the possibilities that come from small business ownership through franchising. All you have to do is allow FranNet of DFW & Oklahoma 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