1. You're buying into an idea that's already proven to be successful. The
groundwork has been laid, the initial hurdles have been cleared, and the business
has proven its validity. While future success isn't a guarantee, the critical
start-up stage of the company has not only been conquered, but the business
has succeeded to the point of being able to branch out into franchises.
2. The management of the business has already been formulated. The need to
make critical business decisions isn't an issue that franchise owners often
experience. From product selection to marketing, the choices have already
been made. It's simply up to the franchise owner to carry out the day-to-day
business operations.
3. The support network is already in place. You're not "in it alone" when
you're dealing with a franchise that offers critical training and guidance.
If you have a question, the franchise company is often just a quick telephone
call away. It's simply in the best interest of the franchise company to ensure
that its franchisees receive the support that they require to remain in business.
That equates to having more time to focus on keeping the business operating
smoothly.
4. Your chances at receiving business financing
are greatly improved. While it's true that franchises potentially require
a greater initial investment, financial lenders are generally more comfortable
bankrolling an idea that's already been proven. The franchise company will also
often assist you in the potentially overwhelming process of financing your business
dream.
5. Franchises are less likely to fail compared
to other small businesses. According to statistics published by both
the United States Small Business Administration and the United States Department
of Commerce, success rates for franchises are significantly higher than non-franchised
businesses. For more information on this see Franchise
Facts & Statistics
The success of franchising results from replicating a proven business model that includes the following:
