three important ways franchising beats entrepreneurship
TRANSCRIPT
Three Important Ways Franchising Beats Entrepreneurship
If you’ve finally decided that you’re done with the 9-to-5 grind and are ready to make your own mark on the world, then you have a wealth of possibilities.
However, you’ll first have to decide whether you want to start your own business from scratch, or take
advantage of and build upon a franchising opportunity.
There are a number of reasons why being your own boss reigns supreme. Personal control of your future, greater
financial gain opportunities, exciting new challenges—the list goes on. Before you go all-in with entrepreneurial
gumption, however, consider these three important ways in which franchising might be a better pick.
Topics of Discussion:1. You’ll have immediate access to
strategic and beneficial partnerships.2. You’ll have immediate access to
specialized training and knowledge.3. You’ll have the immediate ability to
profit from proven trademarks and intellectual property.
1. If you’re a wiz at networking and already have entrenched relationships with supply chain businesses, then maybe you don’t need a franchisor’s help. But for
most would-be store owners, the single greatest benefit of franchising is the automatic access to
favorable supply-chain arrangements that result in immediate financial benefits. This is a huge selling point, in particular for fast food franchises, where
providing customers with low costs hinges on negotiating your own low delivery and food costs. Joining a fast food franchise system allows you to
enjoy a powerful network that would otherwise take you years to amass on your own.
2. Owning a business isn’t easy. In those initial months, if you choose solo-entrepreneurial, it can be especially frustrating as you try to pull it all together. When you
join a franchise, while you reap all the benefits of ownership, you also enjoy being part of a larger team that wants you to thrive. The best franchise groups,
including well-known fast food franchises, offer special training at flagship stores to teach you the best
techniques and steps to operate your business, both in the short and long term. Following this initial training, you’ll be connected with owners of nearby franchise
locations as a ready and reliable resource.
3. When you join a franchise system, you’re paying a fee (or an established
amount of royalties) to use the franchisor’s trademarks and intellectual
properties. This goes beyond the obvious benefits of taking advantage of
known brand names, as even the methods of how to do business are patentable and can be protected as
intellectual property.
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Disclaimer: This information is not intended as an offer to sell, or the solicitation of an offer to buy, a franchise. It is for
information purposes only. Currently, the following states regulate the offer and sale of franchises: California, Hawaii, Illinois, Indiana, Maryland, Michigan, Minnesota, New York, North Dakota, Oregon, Rhode Island, South Dakota, Virginia, Washington, and Wisconsin. If you are a resident of or want to locate a franchise in one of these states, we will not offer
you a franchise unless and until we have complied with applicable pre-sale registration and disclosure requirements
in your state. Franchise offerings are made by Franchise Disclosure Document only.