Small Business Articles
Top 10 Reasons To Buy A Small Business Franchise
May 21, 2008
Obviously, a website dedicated to the sales of franchise businesses is going to say that there are innumerable reasons why purchasing a franchise is potentially the single best thing you could ever do in your life. And just as obviously, such a claim may be a little over-the-top. Still, aside from all undeniable biases, there are good, logical reasons for a person to grab ahold of a franchise opportunity. Below are what we would call the Top 10.
1. Brand Recognition
One of the hardest parts of starting a new business from scratch is establishing a client base that is familiar with your product and trusts your company. Regardless of how good a new barber shop's work is, it takes time for the community to recognize that quality, whereas the local Supercuts has non-stop business simply because people are familiar with the name. The benefit of opening a franchise is that you begin with all the trust associated with the Supercuts name, instead of having to build that brand recognition yourself.
2. Territorial Exclusivity
Owning a franchise, one thing you never have to worry about is friendly fire. Though competition may move in down the block in the form of another store, the franchise owner of a Gold's Gym will never have to worry about his clientele being stolen by the services of another Gold's Gym, because each facility's area is protected from inner-franchise competition so that everyone succeeds.
3. Provided Training
While a go-it-alone entrepreneur has to know his market and methods before even dreaming about opening a business, most franchisors only require a franchisee to have the determination to succeed. From that starting point, tried and true training curriculum, often in a 1-4-week seminar, can and does take care of the rest.
4. Turnkey Startup
Hand-in-hand with the training programs that all franchises offer, included in any franchise packet is everything a new owner needs to get the business up and running. Finding a location, negotiating a lease, and getting finances and merchandise in order can often be a trying and nearly impossible task even for businessmen and women with an extensive history of successfully running an existing establishment. With a franchise, that need not be a fear, as the franchisor is both capable and willing to make it all happen.
5. A Proven System
Even after the initial startup, plenty of systematic things have to be set in place to make a business continue to run. Fortunately for the owner of a small business franchise, those are accounted for as well. At the outset, a Fast-Tek franchisee is handed all the operational procedures and expectations to best serve commercial and residential clients, manage dozens of computer technicians effectively, and make the ongoing operation of the business function in the same successful way that every prior Fast-Tek has.
6. Franchisor Support
The most terrifying aspect of doing anything new is the idea of doing it alone, but with a franchise business, no owner is ever alone. Whatever troubles or questions may arise, an experienced and knowledgeable support team is always available to help a franchisee manage through, even if the needed aid is simply moral support.
7. Marketing Help
With the beauty of franchising, this otherwise tricky-and pricy-part of running a business is almost always taken care of for you. Either proven tools are provided for the franchisee to effectively market his/her own business, or an established system run by the headquarters is already in place. The latter is the case with a Baskin Robbins franchise, which has had a well established marketing system for years.
8. Greater Promise of Success
This is the grand result of the previous seven top things about owning a franchise. When you put everything together, from turnkey startup to continuing franchisor support, you wind up with a much higher likelihood of business success than the average business owner can achieve standing alone.
9. Financial Freedom
When it comes down to it, the ability to make money without being on someone else's payroll is the real reason anyone starts a franchise to begin with. Running a successful small business is a great and worthy accomplishment, but really not much of an end to itself. Having to work day in and day out making signs, in order to put money in someone else's pocket so that you can scrape up a bit of a living for yourself, is far less gratifying than running your own FASTSIGNS franchise and hiring good employees who work to put money in your pocket. With a small business franchise, you can finally get on and do the things with your life that you really want to do.
10. The Title of "Boss"
In spite of all the other perks, this is at least the most instantly gratifying part of owning your own franchise: you get to be the boss.
Obviously, a website dedicated to the sales of franchise businesses is going to say that there are innumerable reasons why purchasing a franchise is potentially the single best thing you could ever do in your life. And just as obviously, such a claim may be a little over-the-top. Still, aside from all undeniable biases, there are good, logical reasons for a person to grab ahold of a franchise opportunity. Below are what we would call the Top 10.
1. Brand Recognition
One of the hardest parts of starting a new business from scratch is establishing a client base that is familiar with your product and trusts your company. Regardless of how good a new barber shop's work is, it takes time for the community to recognize that quality, whereas the local Supercuts has non-stop business simply because people are familiar with the name. The benefit of opening a franchise is that you begin with all the trust associated with the Supercuts name, instead of having to build that brand recognition yourself.
2. Territorial Exclusivity
Owning a franchise, one thing you never have to worry about is friendly fire. Though competition may move in down the block in the form of another store, the franchise owner of a Gold's Gym will never have to worry about his clientele being stolen by the services of another Gold's Gym, because each facility's area is protected from inner-franchise competition so that everyone succeeds.
3. Provided Training
While a go-it-alone entrepreneur has to know his market and methods before even dreaming about opening a business, most franchisors only require a franchisee to have the determination to succeed. From that starting point, tried and true training curriculum, often in a 1-4-week seminar, can and does take care of the rest.
4. Turnkey Startup
Hand-in-hand with the training programs that all franchises offer, included in any franchise packet is everything a new owner needs to get the business up and running. Finding a location, negotiating a lease, and getting finances and merchandise in order can often be a trying and nearly impossible task even for businessmen and women with an extensive history of successfully running an existing establishment. With a franchise, that need not be a fear, as the franchisor is both capable and willing to make it all happen.
5. A Proven System
Even after the initial startup, plenty of systematic things have to be set in place to make a business continue to run. Fortunately for the owner of a small business franchise, those are accounted for as well. At the outset, a Fast-Tek franchisee is handed all the operational procedures and expectations to best serve commercial and residential clients, manage dozens of computer technicians effectively, and make the ongoing operation of the business function in the same successful way that every prior Fast-Tek has.
6. Franchisor Support
The most terrifying aspect of doing anything new is the idea of doing it alone, but with a franchise business, no owner is ever alone. Whatever troubles or questions may arise, an experienced and knowledgeable support team is always available to help a franchisee manage through, even if the needed aid is simply moral support.
7. Marketing Help
With the beauty of franchising, this otherwise tricky-and pricy-part of running a business is almost always taken care of for you. Either proven tools are provided for the franchisee to effectively market his/her own business, or an established system run by the headquarters is already in place. The latter is the case with a Baskin Robbins franchise, which has had a well established marketing system for years.
8. Greater Promise of Success
This is the grand result of the previous seven top things about owning a franchise. When you put everything together, from turnkey startup to continuing franchisor support, you wind up with a much higher likelihood of business success than the average business owner can achieve standing alone.
9. Financial Freedom
When it comes down to it, the ability to make money without being on someone else's payroll is the real reason anyone starts a franchise to begin with. Running a successful small business is a great and worthy accomplishment, but really not much of an end to itself. Having to work day in and day out making signs, in order to put money in someone else's pocket so that you can scrape up a bit of a living for yourself, is far less gratifying than running your own FASTSIGNS franchise and hiring good employees who work to put money in your pocket. With a small business franchise, you can finally get on and do the things with your life that you really want to do.
10. The Title of "Boss"
In spite of all the other perks, this is at least the most instantly gratifying part of owning your own franchise: you get to be the boss.
