Top reasons a franchise works for you: Launching a new business venture during a time when the economy is uncertain can be a risky undertaking. Even after endless hours of market research, there’s no guarantee that a small business built from the ground up will make it to see its one-year anniversary. So, why not buy a business with a proven track record and a formula for success? Now is time to invest in a franchise and gain the financial security you’ve been dreaming about.
Top Reasons a Franchise Works for You:
- It’s all about the brand: Consumers tend to flock to the familiar. For instance, if you realize you love Starbucks coffee, why venture into that mom and pop coffee shop around the corner?
- Limited competition: Franchises don’t only sell the rights to use their business name and model, owners also get exclusive territory rights as a way to eliminate any potential competition.
- Available funding: Have you ever tried to find investors or secure a loan for an unknown business venture? There are a lot of hoops to jump through in order to secure the funding you need to launch. Based on the reputation of a franchise, lenders are more likely to approve funding over to get you get started.
- Built-in support system: A franchisor isn’t going to expect you to know how to run the business model right off the bat. Training resources and staff recruitment are typically part of the initial contact between a franchisor and franchisee. The support doesn’t end once you open your doors for business. Support is ongoing, because the franchisor has a vested interest in your success.
The perks of opening a franchise have continued to grow exponentially each year as more franchisees have experienced the monetary awards associated with business ownership. Entrepreneurship is the path you should be on if you want to build financial security. In fact, according to data compiled by the Tax Foundation, more than half of the country’s millionaires are business owners.
Advantages Exclusive to the Franchisee:
- Be your own boss: If you’ve been stuck in a nine to five career, then you’ll love the flexibility that comes with making your own schedule and managing your team’s responsibilities.
- Tax benefits: Many expenses that can be related back to owning and operating the franchise can be written off on your tax returns.
- Quick returns: Franchise investments are typically lower than purchasing an existing company or launching your own start-up. Franchises see quicker growth in most markets, allowing you to turn a profit in less time.
- No learning curve: What you buy is what you get when it comes to franchises. New business owners usually have to face several hiccups on their way to success. Franchise owners have all the business data and market research required to avoid common pitfalls.