So you think you want to buy a franchise but you’re not so sure it would be the right choice. After all, why should you spend a premium on a big name when you can just duplicate their efforts? Think again. There are a few good reasons why copycatting doesn‘t work, and in hard economic times, these reasons make even more sense. We can’t say enough about the security factor of choosing to invest in a franchise as opposed to a new start up. Below are 5 Benefits of Franchising:
BRAND POWER - Corporate brand identities have proven success in the marketplace.
PROVEN MARKETING PROGRAMS - Most Franchisors include national and regional marketing programs and support for franchisees. The Franchisors want their owners to be successful.
TRAINING - No reason to be in business by yourself. Most franchises provide comprehensive training, ongoing programs, annual meetings, staff training assistance, etc. Enjoy the profits of being an owner with the perks of having training support from your franchisor.
REPUTATION - A franchisee enjoys the protected reputation of the franchisor. "Protected," because there are designated legal departments that take care of the inevitable issues like lawsuits, accidents, and difficulties with labor.
OPERATION SUPPORT- The process of opening a privately owned business is complicated and daunting, especially for anyone getting into business for themselves for the first time. A franchisee can immediately benefit from the franchisor’s experience and tested operating system for opening that specific type of store, from site selection, lease negotiations, equipment/product support, advance training, to opening inventory levels and grand opening marketing strategies.
Contact Meridian Business Advisors at 843-800-2148 to learn more about buying a franchise. We have a Franchise Buyer Assessment we can perform to help you with the selection process.
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