The cycle of a human’s life entering into a career goes pretty much like this – graduate from a college entering the wonderful world of employment, professionally growing employee developing skills by putting in long hours and efforts, relocated employee trying something new and different in a completely new environment, the downsized or unemployed looking for a new job, the leader exercising skills of a veteran, the relaxed retiree who makes up for lost time by picking up new habits and hobbies, spending time with family and dreaming of a career they never pursued.
No matter what stage of life you are in or what phase in career you are in, starting and owning a franchise maybe one of the biggest and most rewarding decisions you can take. In this article, we at FranchiseExpo look at the top 5 reasons for YOU to buy a franchise.
Learn from Other’s Mistakes
Most systems and organizations have been tried and tested and perfected before they are offered to others as franchises. This can save a lot of time and money in the long run versus starting a new business which have never been expanded before to different locations.
Strength in Numbers
Majority of the franchise systems create a sense of community among the owners creating a large network which contributes to the best practices to be followed among the group. This support system plays an important role in portraying the strength of the franchise as well as plays an integral part in imparting knowledge to newbie’s.
Reduced Tax Rates
Sounds interesting doesn’t it, sure it does! What follows from the previous reason, strength in numbers, when a large group combines orders to purchase products, inventory and raw materials, the parent company offers a large discount in pricing that you may not be getting as a solo business owner. The larger the franchise system, the bigger the order, and the lesser price you have to pay!
There are a lot of positive reasons to owning a franchise; however, brand recognition is one of the top reasons to own a franchise. Many franchises spend a lot of money on advertising, marketing and creating a brand voice for them, once you are part of the system, you are already a part of a recognized brand. The main reason behind this is, the better the brand awareness among the target group better chances they are attracted to your products.
On – Going Training and Support
When you purchase a franchise, usually it doesn’t matter whether you have experience in the industry or not. This is because most often than not, most franchises offer intensive training which is often held at their corporate headquarters. Most large organizations offer induction training to all employees and as an ongoing support to the business owner, invite them and their employees for continuous improvement training programs.
If you are looking to own a franchise or have a dream of being a business owner, this article sure puts your goals in perspective. You can talk to our professionals to find out which organizations are offering franchises and we shall help you make your dream come true!