5 Reasons Why Buying a Franchise Is Better Than Starting Your Own Business
It has always been your dream to own your own business, and now you are ready to do it. You are excited, but there are still so many decisions to make before you open your doors. For one thing, do you want to open your own independent business or a franchise?
While you would have complete creative control of an independent business, you will also be taking on all the risks by yourself too, and you won’t have an experienced company backing you up either.
Here are 5 reasons why buying a franchise is better than starting your own business:
1. The Brand Power
When you are creating a business from scratch, no one will ever have heard of you or your products and services. It will take a while for you to build up any power. That is what is so great about joining a popular franchise program. There is already a customer base who knows all about you and is excited to see what you bring to the table. Think about some of your favorite brands like Zac’s Burgers and Chaps Pit Beef. They are all franchises.
2. Support Structure
With a franchise, you will have a support structure to help you get started. Your franchisor usually provides training for you and your staff and will help you find your location and prepare for your grand opening. This can be really helpful, especially if you have never owned a business before.
3. Still Room for Your Input
Despite the rules and regulations that are usually in place when you join a franchise, there is still a lot of room for creativity and your own input. You can add your own special touches to your location to make it stand out. You just need to make sure you follow all the rules and regulations you agreed to you in your contract. Some franchises are going to have more regulations than others so make sure you ask about this when researching different franchises.
4. A Franchise Consultant Can Also Help
A franchise consultant works with franchises every day and can help you negotiate good terms when you are buying a franchise as well as help you be successful once you have launched your new business.
A franchise consultant can help you streamline all the different areas of your business, and be another set of experienced eyes looking at the different aspects of franchising to help you see the bigger picture.
5. Customers Prefer Franchises
Most people when they shop prefer to shop at places that have a good reputation, a business they feel they can trust. When a consumer chooses to shop at a franchise, especially at a particular store location they have never been before, they are making their decision based on brand recognition. Not everyone will take a chance on a store or restaurant they know nothing about.
Another big draw of franchises for consumers is that you already know the type and quality of the products and services even before you enter the store. Have you ever shopped at a ShopRite before? They all offer the same products for the most part so you always know what you can buy there no matter which location you walk into. And a recognizable color motif and interior design style also adds to your comfort level. When you are in a rush or stressed, it is nice to be able to walk in and not have any surprises.
Consider MBB Management as Your Franchise Consultant:
As a franchise consulting company in Philadelphia, MBB Management specializes in bringing you the best tools and expert knowledge to help you achieve maximum success and growth with your franchise.
Our consulting services are great whether you are just getting ready to open your first shop or you have been running your business for some time already. Our experienced consultants will help with training and retraining staff and help make sure your operations are running as smoothly as possible.
We can also help you with recruiting prime positions like your general manager. MBB consultants have experience with bigger picture strategies as well as day to day operations and can offer whatever type of support and guidance you are looking for.
We work closely with a lot of restaurant franchisors assisting with franchise development for new franchise programs, strategic planning for franchise growth as well as help with all the legal documentation involved. You can also get help with developing operations and training documentation and franchisee recruitment marketing strategies. Basically we can help you with all aspects of the franchise business.
Besides restaurants, MBB Management also works with other businesses that want to franchise including manufacturers, dealers and distributors. For existing franchisors, services include franchise system best practices and benchmarking and organizational audits, improved franchisee support systems and franchise sales coaching.
Interested in learning more about buying a franchise and how a franchise consultant can help you, give us at MBB Management a call today.