As you contemplate expanding your successful business, you’ve likely seen two common growth strategies: franchise and company owned. Each has their own strengths and weaknesses and will impact how you run your business. If you choose to franchise your business, know that the process is nearly always more cost-effective and requires less time and energy than adding corporate locations.
There are nearly 775,000 franchise establishments in the U.S. that employ 8.43m people and see revenue of $787.5bn. Franchising can bring your business to new areas, allow you to manage the company with a lighter hand, see a return on investment through royalties, and experience steady and gradual growth.
The Cost of Going It Alone
When you expand your business on your own, more front-end expenses will be incurred before you’ll see a return on investment. You’ll likely pay for each item individually, which will require budgeting accordingly to ensure that all of your expenses are accounted for.
Costs can include:
- Trademark registration fees ~$2,500
- Operations manual ~$1,000
- Legal documents ~$30,000
- Legal fees/state registration fees ~$20,000
- Accountant’s fees/audited financial statements ~$15,000
- Recruiting franchisees ~$50,000
- Hiring franchise talent ~Salary
While these are just estimates, without the talent, you’re already looking at nearly $120K to expand your business on your own.
Why handle everything separately when you can work with Accurate Franchising Inc., who will handle all of the heavy lifting for you. We can help you reduce your costs by 33% during the franchising process.
Why Partner with AFI
The cost of turning your business into a franchise is nearly always less than the cost of opening an additional corporate location. Our complete solution allows you to complete the franchising process for about one-third of the traditional cost to do so. Plus, with 2,500 -plus franchisees worldwide, eight franchise brands, 30-plus years of experience, and 200-plus employees working for you, we have the expertise to build successful franchises.
Accurate Franchising Inc. is in the business of building successful franchise brands. We sell over 300 franchises each year by keeping our sales methods cutting edge, and we’re willing to change with the times.
Our complete suite of services covers virtually everything you need to take your business to the franchising level and achieve your goals. We focus on relationships to strengthen your brand and are able to make a customized plan to take your business to the next level of prosperity. Some of our services include franchise development, lead generation, sales support, real estate assistance, international expansion, CRM and support, our resale program, and help crafting your Franchise Disclosure Document.
At Accurate Franchising Inc., we know franchising. Let us help you with customized franchise consultation services to grow your business right!
Contact us today to learn more about how Accurate Franchising, Inc. business consultants can help you franchise your business and take your business to the next level.