We are often asked about the pros and cons of owning your own franchise and the truth is that while there is risk involved with any new business venture, franchising can be the most stable among the options. Here are five reasons you should consider owning a franchise:
5. Variety. There are hundreds of industries to choose from, ranging from restaurants to vending to healthcare. You don’t have to be specially qualified to own your own franchise in most cases.
4. No Experience Necessary. It’s hard to get an entry-level job these days, let alone a management position. You don’t have to be specially qualified to own your own franchise in most cases. Many franchise industries provide you with all of the training you need to be successful.
3. Proven Business Model. Franchises provide you with a business model that has been proven out over a span of many years. You don’t have to consider all of the hard things about your business like marketing, budgets or training employees. Most of it is already worked out.
2. Recognition. Instead of starting your own business from scratch and having to promote the crap out of it, you are able to choose a brand that is already nationally recognized. If you open “Bob’s Good Subs,” it’s going to take a lot longer to get it off the ground than, say, a Quiznos franchise.
1. Support. Franchises offer a network of support systems for you. Many have local operators, fellow franchisees and business development advisors to help you along the way. It is in their best interest to help you as much as they can because after all, your success is their success.