6 Facts to Know Before You Get Started in Franchising
Thousands of people are getting involved with franchises. If you’re thinking about becoming one of the many franchise owners, there are 6 facts to know before you jump in:
1. Franchising opportunities are everywhere
When most people think franchising, they think fast food. But, virtually every industry has begun offering franchise opportunities. Whether your passion is accounting, retail, or communications, there is a franchise opportunity out there that will interest you.
2. Franchises require an investment on your part
Starting up a franchise is often cheaper than starting up a business on your own. However, there are still start-up costs that you will be responsible for.
However, by starting a franchise, you will get to take advantage of bulk rates on things like your IT equipment, public relations services, and marketing materials. Because they are so big, franchisors tend to get discounts that “normal” companies could never get on their own.
3. Franchising means you don’t have to start from scratch
When you open up a franchise, you get to use a product, a brand name, and a business model that has already been successful. Start-up companies work for years to get that kind of recognition. But by franchising, you get a good reputation right off the bat.
4. Franchisors are highly regulated
There are national regulation measures in place to make sure that franchisors are acting properly. Those rules can actually make it easier for you to start a franchise, instead of your own private company.
5. Franchises can be operated from anywhere
Because there are so many different opportunities out there, you can find a franchise that fits your lifestyle. If you don’t want to work in a traditional office, there are plenty of franchises that allow you the freedom to work at home or in a mobile environment.
6. Franchising means having access to constant support
When you’re just starting out, your franchisor will provide you with training and support, so that you can get up to speed quickly. They may even put you in touch with other franchisees so that you can swap ideas. And, a good franchisor will also provide you with ongoing training, so that you can keep current on all of the latest trends and developments.
Lesley D’Arcy – As a Franchise Recruitment Manager at Mortgage Choice, Lesley D’Arcy is responsible for recruiting franchisees to greenfield (new) franchise opportunities. Her career in franchise recruitment spans over 15 years where she has worked with many major franchise brands. Lesley has a wealth of experience in recruitment of franchisees and builds on this experience by unearthing and developing the latest and most innovative ways to help franchisors build their networks. This experience has given her the skills to become an expert in the field of franchise recruitment, excelling in lead generation, screening, qualifying and selling to prospective franchisees.
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Reader Comments
The six points seems to be six pillars of the franchise world. I am about to own a franchisee of an educational institute and will consider these points.