Starting your own business is never as easy as it seems – after all, if it were that easy, then everyone would be doing it. It requires resourcefulness, the will to overcome challenges, and a lot of hard work. Many a successful businessman and –woman have confessed it took literally sweat and tears to get to a point where the business was self-sufficient and growing.
Luckily, you don’t need to go through the same experiences those pioneers have gone through; it’s all provided in a package called franchising. It’s the perfect solution for those who have the will but are unsure of the way to go about building a little enterprise. Here are the top benefits of franchising you should know about.
What’s a franchise?
A franchise is a business model that is adopted – it has its own brand, its own product, and support from a large network of similar outlets under the guide of one great umbrella office. McDonald’s, for example, is the most famous example, although there are a lot of other smaller ones to be found. Acquiring a franchise means you acquire the right to deal under that brand and to supply products, and in exchange you receive advertising support, your own territory, your exclusive rights, training, support regarding suppliers and possibly customers, and invaluable advice to make it work.
- Joining an establishment – you’re not on your own, and never will be throughout the whole process; you’ve got professionals and experienced colleagues who will discuss with you what you need to know and do.
- A proven business format – you won’t have to reinvent the wheel; there are plenty of people who have gone before you, and you just need to follow in their footsteps.
- Eliminating risk – a person who starts a business has, statistically speaking, a 10% chance of making it through the first year. Those starting under a franchise actually have a 90% success rate. Your risk is significantly reduced.
- You own and manage – you own your franchise, and you manage it.
- Easier financing – financers are much more lenient knowing you operate under a franchise.
The great thing about a franchise, such as a web design franchise, is that you need not have any experience in that particular field or that particular area of business – the model you get is all worked out for you, and the umbrella company provides training as well as ongoing support and advice in case you run into snags. It’s the perfect way to do business if you want to grow your capital, increase your earnings, and add to your knowledge and experience. It’s all about increasing your odds to success; about taking a big leap forward.