You’ve decided to start your own business, but you aren’t sure if you should buy a franchise or build your own company from the ground up. Although starting your own business has its perks, franchising offers its own set of advantages that you should consider before taking the plunge into independent entrepreneurship. Here are three perks of buying a franchise that every entrepreneur should think about before launching their new company.
1) Expert advice
When you buy a franchise you are not all on your own like you are when you start a business up from scratch. After you buy a franchise you will get ongoing support and training from an expert within the industry included! This is not only a great thing to have included but it is also something that if you wanted to buy after starting your own business from scratch it would likely cost thousands of euros.
2) An existing and trusted brand name
An existing and trusted brand name is one of the biggest perks of buying a franchise. People already know and trust the name, which can make it easier to attract customers. Plus, you’ll have access to the company’s marketing resources and expertise, which can help you save time and money. You’ll also be given ongoing training so that you can keep up with changes in the industry.
3) An existing customer base
One of the biggest advantages of buying a franchise is that you’ll be inheriting an existing customer base. This is especially beneficial if the franchise is well-established in the community. People will already be familiar with the brand and what it has to offer, which takes some of the marketing burden off of your shoulders. This also means that you are more likely to be profitable on day one because people in the local area will already be aware of the brand name and will be more likely to spend money with a company they know and trust as opposed to if you started your own business from scratch and it was an unknown quantity to people.
Does a franchise sound like the ideal career path for you?
If you have read the points above and decided a franchise suits your needs and would be a good career path for you, your next step would be to search through a list of franchises for sale by using a website called a franchise directory. These websites list the newest & most popular franchises currently available in your chosen area or country. One of the best franchise directories is called Franchise UK this website is very useful since it does not just list franchises it’s also an amazing place where you can learn the basics of franchising. Another popular directory where you can find franchise opportunities is called Franchiseek. These directories should help you find your ideal franchise from the comfort of your own home.