Starting your own business is no easy task. In fact, it can be downright scary. You’re giving up the security of a regular paycheck, surrendering your benefits and putting your financial future on the line.
However, the benefits of being a business owner can far outweigh the negatives for a lot of people that choose this path. When it’s time to launch that new venture, is it best to do it on your own, or to buy into an established franchise?
In this article, we’ll take a look at five reasons why being a franchise owner is better than starting your own thing.
Let’s take a look.
1. They’ve Already Figured out How to Succeed
Franchises are franchises because their business model works. A successful franchise has figured out the right formula, and knows how to replicate it.
When you buy into a franchise, you’ll be given every tool you need to help ensure your success. There will be no mysteries or stones left unturned.
If you start your own gig, you’ll be flying solo and will need to figure it all out on your own. This can be a daunting task for any new business owner.
2. A Franchise Handles Most of Your Advertising
Most successful franchises produce, run, and pay for local and national advertising to help support you. It’s part of the package when you buy into a franchise.
Franchises know how to brand themselves, and this is a huge benefit of owning a franchise.
When you start a business on your own, you’re charged with figuring out how to brand yourself, where and how to advertise, and what approach to take with advertising production and direction.
Unless you’ve got substantial financial backing and a strong creative team, you’ll probably struggle with this process.
However, as a franchise owner, every time you see an ad for your business on TV or social media, you’ll know that more customers will be on the way to your doors.
3. There’s a Support System in Place and Ready to Serve You
Any time you start a new business, you’re going to make mistakes. Learning from mistakes is a big part of being a successful business owner.
The great thing about owning a franchise is that they’ve already made the mistakes and figured out how you can avoid them. You aren’t jumping blindly into the unknown.
Sure, you’ll still make mistakes along the road of franchise ownership. But you’ll have a team of people on your side ready and willing to coach you through them.
That isn’t the case when you start your own thing.
4. You’ll Have a Brand People Already Know
The most difficult part of starting a business is getting people to know who you are. Business owners spend huge amounts of money just to let customers know that they’re there.
When you own a franchise, customers will see your sign and know exactly who you are and what you do. That’s a huge advantage that you’ll have from the very first day you open the doors.
5. They Want You to Succeed
When you start a new business, how many people do you have out there that are on your side? How many are there to help you succeed?
You’ll probably have a few friends and family members that show support. If you’re fortunate, you’ll hire several employees that buy into what you’re doing and help make the magic happen.
But other than that, you’re pretty much on your own.
As a franchise owner, you’ll have an entire team of trained employees at the corporate office that will do everything in their power to drive your success. You’ll also have other franchise owners that can give guidance when you need it.
Owning a Franchise Is the Way to Go
When it’s time to make the descion about launching your new endeavor, it’s pretty clear that owning a franchise is the best option.
You’ll get the support you need, while promoting a brand that’s already known.
Find the best franchise for you and dive in head first. It might be the best decision you’ve ever made.