Investing in a franchise can be a life-changing experience and fulfilling your dream of becoming your own boss. The following reasons explain why it may be a great investment.
1. Turnkey Business
By investing in a franchise eliminates all the hard work of finding a location, negotiating a lease, hiring reliable contractors and doing all this on-time and within budget. When you invest in a franchise you are investing in a complete turnkey business.
2. Proven Systems
When you invest in a franchise you invest in a system. All franchises have an already established system in place that you must follow. These systems are designed to improve the overall productivity and increase sales of each franchise. Having a proven system already in place eliminates the guesswork and errors a common business owner would normally face.
3. Better Chance of Success
Investing in a franchise is very different from starting a new business. Since there is an already established system in place, there is a higher likelihood of success. If you follow the system the franchisor has put in place, you should be on your way to running a very successful business.
4. Brand Awareness and Corporate Image
When you invest into a franchise system that is already established the corporate image and brand awareness is already recognised. Customers are usually more comfortable purchasing items they are familiar with and working with companies they already know and trust.
5. Easier to Obtain Financing
Lenders are usually very comfortable financing the investment in a franchise as they already have a proven track record. Bankers usually look at successful franchise networks as having a lower risk of repayment default and are more likely to loan money based on that premise.
6. Initial and On-going Training
Most franchise companies offer initial and on-going training programmes that are usually held at their corporate offices or at an actual franchise location. This is what makes franchises stand out from every other business or business opportunity. The franchisor will train you to run your franchise exactly the same way their other franchise locations are run. This will ensure that you are running your business efficiently and will help to eliminate any common mistakes a new business owner usually faces.
7. On-going Support
When you invest in a franchise you are never alone. You will always have the support of the franchisor and the support of knowing you are part of a growing family. You will always be able to pick up the phone and ask questions to the franchisor or even to other franchisees.
8. National and Local Marketing
The franchisor usually takes care of handling all of the national marketing and will assist you in your local marketing.
9. Exclusive Territory
When you invest in a franchise you are also investing in an exclusive territory in which to do business. Franchisors will only allow a certain number of franchises to be open within a certain geographical region.
10. Multi-Unit Franchise Owner
Being part of a franchise network will always offer you more opportunities to grow within the network. Once you have become a successful franchise owner, the next step is to become a multi-unit franchise owner.
SA Franchise Brands