The franchise industry is a growing market, with the number of franchises and employees expected to continue its steady increase throughout 2016.
A franchise is a great way to start your journey into the world of business, with options available in many different industries and sectors. From the world of tutoring to fast food, here are some reasons why you should consider purchasing a franchise.
Supported independence: a franchise provides the independence and excitement associated with being a small business owner while providing the support network of a big business. From financial advice to specialist support, franchisees can be in control with a network to fall back on.
Training: from the basics of starting up a business to the more complicated tasks, franchisees have access to specialist training and support with tasks like technology, taxes, and human resources.
Costs: some franchisers provide assistance with securing finance, and in some cases purchasing a franchise may cost less than starting your own business from scratch.
Reputation: franchises come with the benefits of having a ready-made reputation. With a strong and often well-known brand image, customers are more likely to do business with you.
Existing relationships: with access to existing business relationships, new franchisees can take advantage of links to a franchise’s suppliers, maintenance providers and other vital business services.
Are you an existing franchise owner? What were the benefits you experienced? Share your thoughts with us in the comments!