9 Reasons To Buy A Franchise Now

People often ask me, “Why should I buy a franchise?” and I’m often too quick to respond, “You probably shouldn’t.”

They think my response is sarcastic or rude, when in fact it’s just honest. Even though franchising overall is the safest way for people to start their own business most people should not buy a franchise. Franchising is not for everyone. It’s definitely not for most people.

That said, I think there are many good reasons why people should buy a franchise, especially now. Building a business is never easy, but it could be easier with help from a successful franchisor. However, only you can decide if it makes sense for you to buy a franchise. Here are 9 good reasons that may help you decide:

9 Reasons For Buying A Franchise

1. A recognized name and logo. It helps if your prospective customers already know who you are and what you sell. Chances are good that someone suggested they buy your product or service.
2. A proven operating system. Someone has figured out how to run the business successfully, that is, profitably, and in a fashion that the owner/operator finds satisfying. There’s tremendous value in not having to re-invent the wheel.
3. Marketing and sales systems. Good franchisors solve the marketing problem (or at least the better part of it) for franchisees. You just need to be sure the franchisor’s marketing systems work!
4. Capital investment that may be less than starting a similar business independently. By the time you come up with an idea, test it, develop the operating-marketing-sales systems, hire people, find a location, source equipment, etc. you can save yourself a lot of time and trouble by investing in a franchise.
5. Financial assistance. Some franchisors loan money to franchisees, or they can help qualified prospects find lenders.
6. Training and Support. Ask yourself this question: “How valuable is it to have someone teach me how to operate this business successfully? And to have them hold my hand, answer my questions, and guide me through the start up?” If the franchisor’s training is effective, it may be worth far more than the franchise fee.
7. Ongoing Training and Support. A franchisor’s ongoing training and support saves you from experimenting to figure out how to resolve challenges.
8. Research & Development. Part of a franchisor’s responsibility is to look down the road to the future development of the business and to create or acquire appropriate new products and services, and teach the franchisees how to market and sell those new products and services. There’s tremendous value in this advantage alone.
9. You are one of many. There are benefits to belonging to a network of like-minded individuals and business owners.

If franchising makes sense for you, it may be your ticket to the American Dream. But only you can make the decision. Start by doing your homework. Then select a franchisor that provides at least these 9 good reasons and more to join them!

Amazon.com will soon feature the ebook Buy “Hot” Franchises Without Getting Burned . . . watch this site for updates.

Categorised in: business ideas, Buy a Franchise

This post was written by Dr. John Hayes