So you’ve started a business, and now you’re ready to expand. There are a variety of different ways to go about building a business empire, and franchising is one of the best. If your profits are soaring, your employees are happy, your productivity is high, it’s probably time to start thinking about expansion. Sure, you could open corporate-owned locations of your business, or decide to franchise your business. Franchising, however, gives you much more flexibility, allows you to grow faster, save money, and expand at a far quicker rate. Here are the main reasons you should consider franchising your business.
Franchisees are Motivated
When you open corporate-owned locations of a business, it’s common to have high turnover when it comes to managers. When a better opportunity comes along, those managers usually move on to the next best thing. Franchises, however, are run by true owner-operators, who have as much at stake in the business’ success as you. Since your franchisees will be investing in the business, they are more likely to be motivated and passionate about their job, and stay for the long haul.
You Can Focus on the Big Picture
Business expansion can be a lot of work, and business owners often find it difficult to focus on the big picture while still managing the day-to-day. When you franchise your business, you delegate many of your day-to-day responsibilities to your franchise owners, freeing you up to focus on growing your business. No longer getting caught up in the daily work of putting out fires, dealing with employees, and handling customer needs, you will find that you now have time to work on growing your franchise system.
Faster Expansion
Franchising is one of the best ways to expand your business into new territories quickly. Yes, you will need to spend time preparing and training owners, but as franchisees continue to invest and cover much of the cost of the expansion, you will find yourself growing at a steady pace. Corporate business building means a high cost, many logistical roadblocks, and likely a slower rate of expansion. In franchising, things move much more seamlessly, as a good franchise system has a built-in process for opening new locations quickly.
More Economically Viable
Building a corporate business certainly has its benefits, but the cost can also be astronomical. It requires money for outfitting the new location, recruiting and training employees, marketing to customers, and more. All this can prove overwhelming for many business owners who are looking to expand. If you want to grow in a territory that is far away from your first location, these costs only increase. When you franchise your business, however, the investment is often easier to predict and plan for, and your franchisees will serve as active partners in helping you work towards turning a profit.
Are you ready to franchise your business? Get in touch with Accurate Franchising, Inc. today to learn how you can turn your business into a franchise empire.
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