As franchise consultants, we're frequently asked, “What are the benefits of purchasing a franchise versus a start-up”? There are many, however, some of the ones that are at the top of the list are:
- Proven system of operation – An attractive feature of most franchises is that they have a proven system of
operation. This system has been developed and refined over time by the franchisor.
- Name recognition – Established franchisors can offer national or regional name recognition.
- Management assistance – A franchisor provides management assistance to their franchisees. This may include accounting procedures, personnel management, facility management, etc.
- Developing a business plan – Most franchisors help franchisees develop a business plan. Many elements of the plan are standard operating procedures that have already been established by the franchisor. Other parts of the plan are customized to the needs of the franchisee.
In addition to the above, franchisees are provided assistance with financing, marketing, and general start-up. The experience of the franchisor’s management team increases the potential for success. This experience is often conveyed through formal instruction and on-the-job training.
Reap the rewards of franchising and save the headaches of starting from scratch.
Contact us to discuss this in more detail and to learn how franchising may be a great fit for your long-term goals.