If you’re one of the millions of U.S. citizens who are dying to try something outside of the daily cubicle grind, franchising may present the perfect opportunity.
Entrepreneurship sounds exciting, but having to start a new business from scratch can take years and in some cases decades. If you don’t have that long to wait and want to become your own boss as efficiently as possible, consider meeting with a franchise consultant. (Like us.)
Proven concept. Franchise businesses are brands that have proven successful. Think about it: there are far more McDonalds, Starbucks and Chipotles than there are innovative concept eateries. There’s nothing wrong with breaking the mold, but the franchise model works. When you invest in a franchise location you automatically gain access to a well-oiled supply chain, HR resources and more!
Built-in support network. When you first begin franchising, there’s a lot to be anxious about. Fortunately, you aren’t alone! Your fellow franchisees have navigated similar circumstances and can provide you with critical advice, information and insights that will help to streamline your production and assist you in avoiding costly mistakes. Corporate offices also provide support tools and training resources for franchising professionals, no matter what stage of the game you’re in.
Risks removed. According to Bloomberg, 8 out of 10 businesses fail. That means small business owners have an 80% chance of failure. Compare that to franchise businesses — a 2015 report by the Service Employees International Union found that 17% of franchisees default on their loans. Now, that’s a significant difference! We aren’t saying that franchising doesn’t present its own series of challenges, but with the right tools, you can succeed.
If you’re interested in learning more about the benefits of being your own boss and owning a franchise business, give us a call. (443) 463-3790