Seriously, a franchise?
No really! A franchise is a great option for business ownership. When people hear the word “franchise”, most automatically think of it as a dirty word or don’t understand the facts.
When you buy a franchise you are buying a proven system the franchise company has created and perfected over time. You benefit from their support system, a solid business plan, branding, training, and marketing. You do not have to figure things out on your own and you do not need to be an expert in the industry to succeed. The franchisor will train you on everything you need to know. If you can follow a proven system, then you can be a fantastic franchise business owner.
Here are three big reasons to consider a franchise:
- Investment – Franchises are an affordable way to start a business. Most franchises require a minimum of $25,000 liquid capital and a net worth of $100,000. You do not need a million dollars like most people believe. This does not mean you have to have $100,000 in cash either. There are several options to finance a business and our consultants will explain your finance options. In the end, your business has equity you do not have working for someone else.
- Selection – For some reason, people believe franchises are only available for fast food restaurants. Granted, most fast food restaurants are franchises, but there are over 3,000 different franchises in 90 different categories in the US! Many are B2B and service franchises which are growing at a rapid rate. Most of our clients look at low cost, B2B, Senior Care, Education, Pet care, or Home repair franchises. None of these have anything to do with flipping burgers!!!!
- Proven Process – With a franchise, you benefit from the system that the franchisor has proven works. It is like buying a “business in a box” with all the tools in place to be successful. As a franchise owner, you have fellow owners to give support as well as the franchisor providing tools, support, training and marketing. This is why franchises perform well and are a great option for entrepreneurs.
This all boils down to the fact that a franchise gives you an affordable option to start a business while reducing your risk and increasing your success.