8 Good Reasons to buy a franchise
Do you dream big? Do you want to be your own boss by breaking free from the shackles of your monotonous job? Then franchising is for you. You know this and yet it is only natural to be worried about leaving the comforts of a secure job. Are you still comparing the advantages of both? If yes, then your ordeal ends here, we give you 8 great reasons for buying a franchise…
• Already established business model By buying a franchise one gets the advantage of using an already established business model. Hence one does not have to build his business from scratch. Also an established and successful business model increases your chances of success. In fact, some believe that franchising as a business model is 3 times more successful than a normal start-up.
• Lower Risk The risk involved in franchising is a lot lesser because you don’t run your business by ‘’ Trial and error’’, you already have expert advice in the form of the franchisor. The franchisor will guide you through out the business period and make sure that you don’t make costly mistakes.
• Finance This is one of the major problems faced by new and budding businessmen. But once you become part of a franchise, banks will be more willing to provide you with business loans. This is because of the already established image of the franchisor in the market. Also now more and more franchisors have themselves started offering financial help to their franchisees. Hence procuring finance becomes easier once you are a franchisee.
• Loyal customer base As a franchisee you automatically get access to the franchisors huge customer base. Loyal customers of the franchisors brand will definitely want to purchase the product/service from their area itself.
• Established brand name Once you buy a franchise, you get access to the franchisors brand name and also the right to use his Intellectual Property. Hence the franchisee does not work to build a brand, the brand is already established and the franchisee just needs to leverage that brand.
• Exclusive Rights Most franchisors provide their franchisees with exclusive business rights over a particular area of operation. Such an exclusive right ensures that you are the only franchisee in your area and all the franchisors customers in that area come only to you.
• Advertising and marketing As a franchisee, you dont need to especially focus on advertising and marketing because this is handled mostly by the franchisor. It is the franchisors duty to ensure that the brand is advertised and marketed well.
• Support The biggest advantage of being a franchisee is the constant help provided to you by the franchisor. The franchisor expertise and guidance play a major role in the success of any franchisee. All this expertise and guidance is always just a call away.