If you have ever thought about turning your business into a franchise, or you are currently an owner who wants to grow a franchise, there has never been a better time. Franchising is a proven business model. If you have a desire to expand, a need for capital to fuel your expansion, and a goal of seamless operation across a wide-spread geographical area, franchising could be the opportunity for you.
Franchising has been in existence for decades, but really hit an explosion during the 1950s when it became one of the most favored business models for self-employed individuals. Those with a business dream saw franchising as an opportunity to find success, without the challenges and struggles faced by many start-up business owners.
And the best part? Franchising still offers many of these same benefits today!
Today, franchising is still a viable option for many and franchise opportunities continue to expand. The upward growth of franchises is due in part to several benefits, including:
- Branding: Franchise owners are able to leverage the power of an existing brand and turn it into personal success. And as franchise investors come on board, the original business owner (you!) benefits from the expansion of the brand.
- Entrepreneurship: You enjoy all the benefits of business ownership, but are able to rely on your franchise owners for support of your business success.
- Investors: The franchise model lacks a number of the challenges you face when you are a business owner looking for traditional investors. Your “investors” are your franchise owners. Everyone benefits from their own hard work.
- Reduction in risk: Perhaps the best part of being at the helm of a franchise is the reduced risk you face. You are not “all on your own” and neither are your franchisees. Together, all of you are able to build a successful brand that continues to grow.
Franchising is here to stay and will be a profitable business model for years to come. If you want to make the most of this opportunity, we can help!