WHY BUY A FRANCHISE?
People decide to buy a franchise for many reasons, but what they are looking for is a business that has proven performance, a brand that people trust, systems in place, effective marketing, and an organization that will support them every step of the way. The alternative to franchising is starting a business on your own and unless you have done it before, it is extremely challenging, risky, and expensive. And when you look at the value you receive from a franchise, you begin to understand why they charge you a franchise fee and monthly royalties.
It’s also important to understand that it’s in the franchisors best interest to help you become as successful as you possible can be. Because the more revenues you make, the more royalties they make. And if you were the franchise company, wouldn’t you analyze every aspect of the business and continue to refine your business model. And although growing royalty revenues are important to them, most franchise companies and their leadership are in it because of the impact they have on people, the jobs they create, and the legacy they are building.
Buying a franchise can be the greatest decision you’ve ever made, or it can one of your biggest mistakes. There’s a lot of due diligence that goes into selecting the right franchise because not all franchises are created equal. There are over 3,500 franchises in the United States and I would not recommend more than half of them. And although buying a franchise can seem like a daunting task, working with a consultant to do so can make all the difference.
60-minute LIVE Webinar
Join Marty Greenbaum, franchise consultant, as he answers the most important questions to those new to the franchise buying process
- What do I need to know about franchising before I buy?
- What does a smart franchise investigation look like?
- How do I know what specific franchises are right for me?
What makes franchising so attractive to those seeking to start a business is the ability to leverage a brand, proven systems, and so much more. I have outlined many of the advantages that franchises offer to make it easy for you.