Category Archives: Franchise
If you are thinking to start up your own business, you have to make a very important decision in choosing the right franchise. You will be able to overcome some of the stress and guess if you have chosen the right franchise. Most of the reputable franchisor will make you go through a rigorous screening process before they authorize you with the franchise opportunities. The process will become smoother if you know the franchisor and this will help in moving forward together with confidence.
If you have some land that can be offered to the franchisor, you will get some significant advantages in starting your business from the scratch. It is a good idea to get some franchise consulting before starting this business.
With a successful franchisor, you will be able to purchase a proven business model, rather than having to give your own time and build one. When you make your own product, there is a lot of testing of the product involved, tweaking and revising. The process is a lot smoothened after the franchisor has sold you the product.
When you deal with the franchisor, you will be ensured of getting quality products, job descriptions and training programs. If you start your own business, you will have to develop these things first by sacrificing the time left for your family, recreation and sleep.
You will get a lot of ongoing support, mentoring and training from the franchisor. Even though you are just the beginner, you will have great products with quality service that might be the biggest gain for you.
The franchisor will do the marketing and brand recognition for your business. If you are independent business owner, you are solely responsible to design, build and pay for these items.
The franchisor will purchase the products at the cheapest rates, providing some benefits to you. If you have your own business, cutting deals on small amounts of product, supplies can be an unforgiving bunch.
Franchising is closely regulated, thereby making the track records easier to access along with quality standards, and to solve problems should they arise.
Franchise business is good for someone who wants to start a business but you should be aware of the following disadvantages.
You will have to pay a fee for purchasing the franchise package. The fee keeps getting higher if you are dealing with a successful franchisor with lucrative products. In most cases, you will have to bear the monthly royalties and fees.
The franchisor will determine and limit the size of your territory, and control your expansion.
For most parts, you will be fully controlled by the franchisor’s methods, timelines and processes. Although purebred free-spirited entrepreneurs might eventually find franchise controls a bit stifling and want to move on, the franchise model offers an attractive option to get into business.