Long hours and fear of failure keep many from perusing business ownership. Success in business does require dedication but the fear of failure can be greatly reduced through franchising. A franchise is simply a business that is authorized to sell or distribute a company`s services or products in a specific location. With a franchise you benefit from the work and experience of others that have invested thousands of hours creating a successful business. When you start a business from scratch you can only guess at the difficulties ahead, but with a franchise opportunity many of the common obstacles that new business owners face have been addressed. A common phrase heard in franchise marketing is that you go into business "for yourself, not by yourself," and nothing can be truer.
Beyond the support and experience of the franchisor you also get exceptional training. One of the best ways to learn a new skill is from a master, but how often do you have access to the best in a field? With a franchise opportunity you get coaching from the source; a source that has "been there" and knows the ropes. The educational methods for franchise businesses vary, but most will include instruction on distribution of the product or service, management of employees, book keeping and inventory, location and building leases, and more. Very good training programs will even send a person to help you open the new franchise and will stay with you until you are comfortable running it by yourself. The franchisee wants you to succeed just as much as you do so any reputable franchise opportunity will have an excellent training program.
Another advantage of owning a franchise business is the marketing support. When you own a franchise you don`t have to be a marketing expert because the franchisee has already employed experts for you. A portion of the fees you pay as a franchisor go towards marketing. That doesn`t mean that you still can`t market your business locally. In fact, many franchisors provide marketing materials to the franchise owners as well as marketing guidance from your training and throughout your ownership. One of the biggest benefits of owning a franchise is the marketing program, so keep that in mind as you make your franchise selection.
Many believe that most franchises are bought because of their well known brand names. Much of the time that is true, and with a name like Subway franchise or McDonalds franchise behind you it is easy to envision success. However, franchising has evolved and there are thousands of franchises that most people are unfamiliar with, but that doesn`t mean these smaller franchises should be ignored. With a new franchise you have a better chance of securing the territory you desire and in some cases you can get the same quality franchise for a lower cost than a better known competitor. An additional advantage to owning a lesser known franchise business is that the variety of business possibilities increases. In today`s franchise market there are business models for everything that you can think of.
The world economy has changed and no matter how much a company appreciates
their employees they can`t makes any promises for the future. The only way to
secure your destiny is to take control of it yourself. When you own your own
business your hard work can be seen first hand. With a successful business
franchise you are also creating a better future for your family that will
be appreciated for generations. A franchising opportunity is the safest and
most dependable path toward business ownership, so don`t let the fear of failure
keep you from realizing your dream of business ownership.
FTC Franchise Rules