Entrepreneurship is a journey that many begin, but not everyone continues. From starting a business from the ground up or purchasing a franchise, being your own boss comes with pros and cons.
Depending on your professional goals, franchising may have the perks that you desire for your entrepreneurial journey. So, is owning a franchise right for you?
Perks of Owning a Franchise
While there is a long list of benefits of joining a franchise, here are a few key perks that can help you decide if franchising is the right decision for you:
When you purchase a franchise, chances are you are joining a known company that has experienced some proven success. By becoming a franchisee, you are joining a business that has built-in brand awareness. Instead of starting a brand from the ground floor and hustling to create awareness, that step has been done for you.
Don’t think this means that running a franchise is easy—there are still many hats that a franchisee has to wear to keep the business running successfully.
A Support System
Purchasing a franchise means you’ll likely receive initial training and ongoing support for your business. When a company decides to franchise, it is important to maintain consistency throughout the different locations. This, in turn, increases brand awareness and creates a desirable, consistent experience for customers.
The level of support received from your franchisor varies and depends on many aspects of the business. Ongoing corporate support is one of the biggest reasons that entrepreneurs choose franchising over starting their own business.
Lower Startup Costs
More often than not, purchasing a franchise is less expensive than starting a company from scratch. Franchises also tend to bring in revenue more quickly than new businesses, due to ongoing corporate support and brand awareness.
For an entrepreneur, running a business can be an exciting endeavor. When deciding how to begin the journey of business ownership, consider the perks of purchasing a franchise.
Ready to start your franchising journey? Contact me today to assist you with your entrepreneurial goals!