For a company with a product or service to sell, franchising provides an excellent opportunity for rapid expansion without an enormous outlay of capital. It is a distribution system that allows a business to conserve capital, and at the same time achieve fast market penetration making it a very attractive proposition to most business owners.
One of the greatest advantages to them is that they get 100% commitment from their franchisees who have a stake in the business rather than staff or managers who simply work for a salary and may be less motivated. Franchising enables them to utilise the entrepeneurial skills of the franchisee network to achieve better results than might otherwise be achieved.
For any company franchising their business it is important that the business model has been carefully researched and refined. It needs to be simple enough to be capable of being replicated and the business system itself has to be clearly set out into an operations manual that covers every aspect of the business.
The Franchisor has to understand
that this is is not a quick way for him to make money, but a sensible way to
expand and get on board people that are equally committed to the business
There are many individuals who like yourself, who want to be their own boss. They see no long range security in working for someone else, and feel that their potential income will always be limited as an employee.
Franchising offers these individuals an opportunity to break free & own their own business whilst at the same time minimising the risk that is inherent in opening an entirely new business from scratch.
Franchising allows you to follow a tried and tested business system which will greatly improve your chances of success, as the statistics prove.
Franchising enables you to become involved as part of a company that has established a tried and tested system and has achieved some market share and name awareness. When starting a business as a self employed person you will make mistakes which can be costly if not catastropic. An established franchise will have ironed out those problems. They will have a written system contained within the franchise manuals as to how operate the business so as to achieve maximum sales and profitability from day one. It is effectively the name awareness and the system that you are paying for.
One of the most important aspects of becoming a franchisee is that help is on hand at every stage. The Franchisor will provide initial training, launch and marketing support and day to day help. The fact that as a franchisee you are in business for yourself but not by yourself is a major factor in the improved success rate that is associated with franchising.
If you decide to buy a franchise, do not relax and wait for the Franchisor to do all the work, that simply won't happen. Franchising can provide a structure and a proven system but it is still your hard work and effort that will be decisive in making it work.
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