Joel LibavaWhen you think of some of the advantages that franchises have over independent small businesses, what are some of the things that come to mind?
Most of the people that I’ve met over the years as an advisor, or seminar speaker, tell me that they’re thinking of buying a franchise because there’s name recognition. In other words, there’s a brand.
Having a powerful franchise brand behind you in a business of your own is huge.
Unless of course it’s a young franchise concept…one that isn’t ,”branded” yet.
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What else is a franchise advantage?
Other things that make franchise ownership an attractive option for some include;
- Proven business systems
- Group purchasing power
- Proven marketing techniques
- Formal training
Those are the usual subjects, and you can easily find hundreds of articles and blog posts describing each one. Good stuff. They’re great reasons to get involved in franchising. Here’s another one…
Speed.
How cool would it be if you could invest in a start-up business of your own and have it up and running in 90 days? Would you consider that to be a franchise advantage?
By, “up and running, ” I don’t mean opening a business and “winging it.” Customers don’t like walking into a business that’s, “still fine-tuning things.” Today’s customers aren’t very patient, and will quickly take their money somewhere else if they don’t feel that their needs are being met.
If you’ve invested in a solid franchise, your business can be that place.
About the Author
Joel Libava is The Franchise King® — an independent franchise advisor with 25+ years in the industry, two published books on franchising, and his writing has been featured in The New York Times, Forbes, CNBC, Entrepreneur® Magazine and others. In addition, he wrote exclusively for the U.S. Small Business Administration blog for eight years. He doesn't sell franchises. Instead, Joel helps you figure out if franchise ownership is actually right for you — and if it is, teaches you his powerful, proven-to-work franchise research techniques, so you can make a smart, informed decision on a franchise to own and be your own boss.
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