Benefits of Buying A Franchise
shared by frantasticff on May 22
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PROS OF STARTING A FRANCHISE BUSINESS
• BRAND AWARENESS: It’s easier to sell to customers already familiar with a name. This means it takes less time to establish your business
• TESTED BUSINES...
S MODEL: A Franchise is usually based on a proven business idea. This gives you a head start and helps eliminate a lot of trial and error method and expensive guess work.
• TAP INTO INSTANT EXPERTISE: A good Franchisor has established proven systems and will provide ongoing training and support in all aspects of the operation.
• MARKETING: National marketing undertaken by your franchisor will benefit you and is normally available to small business proprietors.
• EASY TO OBTAIN FINANCE: Banks are more comfortable providing Finance to a Franchise with a good reputation and proven track record.
CONS OF FRANCHISE BUSINESS:
Loss of control:
Perhaps the toughest pill to swallow is the fact that you not the boss anymore. You’re still in a contract and can collect income from the store, but you sold the rights to that location.
Lessened creativity
If you’re a business owner who enjoys coming up with new ideas and running with them, franchising might leave you feeling less excited and fulfilled about your business, even if you are raking in the cash.
Regulation
Operating a normal business already comes with laws, regulations, fees, and paperwork. Franchising just adds more.
It might just not work
Your risk is less, but this is far from guaranteed. Most businesses brands start franchising their business because of the strong assurance of success. But there are still inherent risks involved in it.
Source
https://www....tastic.in/Category
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