As we get closer to the New Year and a fresh start, filled with hopeful ambitions to actually accomplish our New Year’s Resolutions, we wanted to share why franchising is a great option for someone wanting to be their own boss. Starting a business from scratch is tough work, and many with an entrepreneurial spirit don’t know where to start. That’s why we have franchising, the best of both worlds – opening your own business, but without the guesswork on how best to make it work.

Below is a list of the Top 5 Features of Opening a Franchise:

1. Open a “Turnkey” Business

Many business-minded people have what it takes to run a business, but don’t necessarily have the ability to get their passion off the ground. Franchising can make that easier and expedite the process. Whether it is finding financing, the perfect location, negotiating a lease, or how to project inventory, when you open a franchise, you are opening a business that’s ready to go.

2. Operational System

When you buy into a franchise, you are buying into an already tested and proven successful business model. The system that the franchise is governed by was designed to improve productivity and sales. Opening a business with a pre-planned system eliminates guesswork and room for error that typical business owner’s face, which in turns gives you a higher rate of success. 

3. Training and Support

Most, if not all, franchise companies have an extensive training program in place so new owners fully understand the daily operations before opening. This is what separates a franchise from every other business. The franchisor will train you on how to run your franchise to ensure you are running your business efficiently which helps to eliminate the common mistakes new business owners tend to make. Support is another perk of opening a franchise. When you open your business, you are not alone. Instead, you are part of a growing family and will always be able to pick up a phone and ask questions to the franchisor or other franchise owners.

4. Exclusive Territory and Building Ownership

When you buy a franchise, you are also buying your territory. Franchise owners adhere to a strict territory policy so you will never be competing with another franchise owner in a specific geographical area. This is of course dependent upon certain demographics such as population and size of the allocated area. However, you can expand yourself to more than one location and become a multi-unit franchise owner. After you establish a solid management team and employees, you can build a second location to increase your income.

5. Marketing and Brand Image

When you open a franchise, marketing is usually something you don’t have to spend a great deal of time worrying about. The franchisor builds relationships with public relations firms, sets up email and social media campaigns, and provides you with specific marketing methods that have worked for locations in the past so it’s easier to build your customer base. You are also buying into an already recognizable brand and corporate image. Customers are more comfortable making purchases from a company they are familiar with and working with companies they already know and trust.

We hope this Top 5 list helps you to better understand the benefits of opening a franchise. Please explore our franchising website for any questions you may have and never hesitate to reach out to our sales and marketing department. Have you ever thought being your own boss? It might be time to take the next steps!