Many people who want to go into a business consider whether buying a business franchise is the right choice for them. However, just like any other business startup, a franchise business has its advantages and disadvantages and you need to carefully weigh all the pros and cons before you take such an important decision about your life and profession and step into a franchise business.
Enter the franchise business opportunity. Although franchising is a relatively new business concept as measured against the scope of history, it is a business option that carries a much higher success rate than traditional independent businesses, and this is particularly true if you are a first-time business owner.
Initial training is very good, you are paying for it dearly, however what about follow up training or training for the new staff. Remember your initial team of employees will be a part of the training but what happens when they leave. How does the new staff get trained? Normally once the store is open and the initial training is done, you are on your own.
For establishes companies, brand awareness can almost guarantee success when the proper research is done and you open in the right market. This can account for a lot of savings on the marketing relating to launching and opening a new business franchise.
Few things are more gratifying than building a business in which you work for yourself and are able to see and keep the fruits of your labor. With interest in entrepreneurship increasingly on the rise, more and more young professionals are looking for ways to generate an income and create a lifestyle while working for themselves. Because of the systems of success already in place with franchise business opportunities, young entrepreneurs can minimize business start-up risks while maximizing their potential for success.
Once in business, many franchisees appreciate the practical and experienced advice they get about building sales and avoiding problems from the franchisor. And they benefit from pricing and service advantages when purchasing products and supplies that they can acquire with other franchisees at group rates.
The business hours set out in the agreement that you will sign are supposed to be adhered to. Even if you get a client with unique time schedules, you will not be allowed to clean for them because they do not fit into the corporate provisions of the franchise. Stick to the schedule provided and adhere to the guidelines from the parent company.
One of the biggest expenses for many new business owners is advertising and most franchisors will arrange for regional and national advertising which you can take advantage of saving you money or providing you with advertising opportunities which you would never be able to afford on your own.
Some of the decisions taken by the franchisor may directly affect your business and you find yourself with little if any recourse. The most common of these is known as Impact. Impact is when the franchisor opens another outlet in the area that causes you loss of business, and they may even sell the location to some one else or keeps it as a company outlet.