9 Perks to Working Through a Franchise
9 Perks to Working Through a Franchise
As a business owner, there are many decisions you will need to make in order to steer your brand toward growth. From marketing directions, to initial moves like location and opening dates, it's your job to coordinate and respond toward market changes from day one.
You want all the help you can get in this front, right? The more help you can get from experienced professionals, the better off you will be. It's less time you have to spend researching or wondering if you're making the right call. And it's time you don't have to spend wondering if and how your decisions will pay off.
Working through a franchise gives you the insight you need in order to move forward. It provides you with real, tangible information. It gets your brand up and running with forward momentum … not the kind that slows you down waiting on responses or know-how from someone else.
Working through a franchise also gives you confidence to know you know what you're doing. Don't waste a second faltering about decisions; they help give you the peace of mind to move forward with hesitation.
Of course, that's not the only reasons it's ideal to work through a franchise. Here are the top-rated perks, taken from successful franchisees in all industries:
1. You Come in With a Known Customer Base
It's hard being the new guy … it's much easier being the new guy who everyone's already heard of. Instead of establishing yourself in a market where you're completely unknown, working through a franchise allows you to do so with a name that's recognizable and beloved to your soon-to-be customers.
2. You Have Established Branding
Logos, colors, service boards, promo products – these and plenty more have already been created and vetted when working through a franchise. Those before you have tested the waters and landed upon a recipe that works. For you this means your dollars are going toward materials that work. No wasted funds while trying something new, and instead, you can put up branding materials that are readily polished and recognized by the masses.
3. The Business Model is Successful
This is quite obviously the most important aspect of them all. You don't have to waste a second of worry wondering if your business will make it. Its successful nature is the entire reason it's a franchise. Experienced businesspersons established their model and molded into a way where it can be recreated and repeated. Do what they do and you're golden.
4. The Education Methods are Vetted
Again, franchising is about following a model that's been ready made for you to follow. You aren't the first person setting up shop, and therefore, the kinks have been worked out. Follow your steps for education and communication, then business growth will be waiting on the other side. After all, it's in your franchising brand's best interest for you to succeed – all you have to do is follow their lead and ask questions as you have them.
5. You Have a Team of Experts Behind You
Never worry about finding success on your own ever again. As a franchisee you have an entire team that you can turn to, ask questions, and look toward for advice. Not only is your franchising company successful in the industry as a whole, but they have far more experience with this particular brand. They are the most qualified experts you can find and they're there to help you succeed!
6. Existing Product and/or Service Training
Another perk to working through a franchise in the ability to test and hone a product or service. Whether or not you're an expert in any particular industry, your onboarding company will help test and perfect your location's abilities. Whether that means working with particular tools, to handcrafted recipes, to a standard of employee knowledge, your franchise will help ensure that your location is up to par.
7. Ample Business Experience
Whether or not you've owned (or managed) a business before, working through a company brings you access to higher levels of checks and balances. A franchising brand will likely have tiers or even hands-on help to manage your books, oversee your bank accounts, and more. All of this to highlight potential problems before they're glaring errors and to give you better business insight.
8. There's More Clout With a Recognizable Name
No only will you have the power of your franchise in your corner, but with them on your team, you'll also have a better reputation in the business world. That means when talking to others or even discussing your brand, you can immediately turn heads and join in on people's radars by opening up a brand they know and love. (Or a brand that's established and well known.)
9. There's a Model for That
No need to worry about establishing and testing out new methods for each service or business step. The hard work has been completed and optimized for best use. Simply follow suit and find what best meets your business needs and goals. With a franchise, you're going in to the location with kinks ironed out and best practices put forward. All you have to do is look toward company recommendations in order to save yourself some serious grief.
In opening a franchise, there are many headaches that can be avoided. In addition, you're getting a head start to business growth.
By Bethaney Wallace | Sep 25, 2018 | General Franchise Information