Are you confused whether you should start a business of your own or buy a franchise? Then you are not the only one who faces this dilemma. For most buying
a franchise can be a life-changing decision. It is always great to be your own
boss and it is a great investment opportunity. Here are top 8 reasons why you
must consider buying a franchise:
1. Turnkey Business: Most people lack the skill set required to make the business up and running but they have the skill
to run an already successful business. It is not easy for all to have the
courage of leaving an already established job, negotiate terms of lease or
arrange for finances. In buying a franchise you need not worry about finding a
location or hiring contractors or negotiate the lease. Buying franchise is like
buying the turnkey business.
2. The system is established: Franchises have a well-established system that each must follow. The system is designed well to
improve the productivity and add to the sales figure. As the system is well
established and defined therefore there is no place of errors and guesswork.
3. The probability of success is high: To start a mom-and-pop business and buy a franchise are two different things. The likelihood of success in running a
franchise is quite high in comparison to starting a new business. In case you
follow the well-established system laid by the franchisor, the chances of
running the business successfully are quite high.
4. Brand awareness and corporate image: If you decide to buy a franchise you get the benefit of having
a well-established brand awareness and corporate image. Customers easily trust
items that they are aware of and familiar with. You need not put in lot of
efforts to make the brand popular or convince people to buy the product.
5. Easy finance available: Lenders trust in franchise easily and obtaining finances
become lot easier. This is because franchise has proven track records and thus
the creditors believe that the risks are lower. There are few franchise systems
that even offer in-house lease or financing options.
6. Training is offered by the franchisor: Almost all franchise companies promise one to four weeks of
training program that is organized at the corporate office. This is one of the
biggest advantages of having a franchise business. The franchisor trains to run
the franchise exactly in the same manner as the business runs at other
locations. The chances of mistakes are mitigated.
7. You are never alone: After buying a franchise, you will never feel alone, the franchisor will always
be there to support you. You become like a member of a growing family. The
assistance is just a call away or you can drop them an email. Revert is
sure-shot and within shortest possible time span.
8. Advertising and marketing is handled by the franchisor: If you buy a franchise. You need not
worry about advertising and marketing. The franchisor manages it all. They have
an outlined model that each franchise has to follow and must have a system to
use.
As you are saved from the struggle of establishing the business right from scratch, you have all the time to focus on running a multi-unit franchise.
Owning multi-location franchise is a very lucrative opportunity.
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