Why should YOU consider a franchise?
Author: Jackie Adams
Recently, I was thinking about the questions that franchise candidates ask during the investigation process, and what motivation lies behind those questions. The more I boiled it all down, the more I realized that it really comes down to one simple question – “Why A Franchise?”.
So, I went back to the very beginning of WHY a candidate would use my services to help them find a new opportunity, and I came to the following conclusions that seem to apply to about everyone I work with:
MOTIVATION: You’re dissatisfied with the way you’re being treated by your company. Perhaps you’re an executive who has been displaced. You realize that your labors have been creating wealth for others, but not for yourself. You’ve had the idea of owning your own business as a solution to these and other issues but you’ve heard all the horror stories about the failure rates of independent businesses.
OPPORTUNITY: Franchising is nothing more or less than a business strategy for getting and keeping customers. It is a marketing system for creating an image in the minds of customers about the company’s products or services. It is a method for distributing products and services that satisfy customer needs. Franchising is a network of interdependent business relationships that allows a number of people to share a brand identification, a successful method of doing business, and a proven marketing and distribution system.
For the franchisee, franchising is about risk reduction and safety. You give up the total freedom associated with being an “independent owner” to become part of a group of people committed to building a brand and dominating markets using a common, proven operating system. You don’t have to guess about the most effective way to build your business; there is a proven system to use.
METHOD: The franchisor provides a proven method of doing business (the operating system), a brand or trademark that will have value in the eyes of the customer based on execution of the operating system, and initial and ongoing support so you won’t have to reinvent the wheel to be successful. You provide capital to expand the brand faster than the franchisor can by itself and management talent to run the business and execute the operating system.
A franchise system should also provide group buying power to cut your operating expenses, faster growth due to tested marketing programs, predictable results based on your adherence to the operating system and less risk of your invested capital. The trade offs for you are the fees you pay the franchisor for the operating license and the restrictions you will deal with on the method of operating the business.
In looking at any franchise opportunity, the above holds true for most all my candidates. Franchising is about being part of something bigger than just your office or location. It really doesn’t matter which product or service you are selling – it’s about building your dreams by using a common and proven business system.
If this strikes a cord with you, give me a call and let’s discuss how we can help you build YOUR dream!
Happy Holidays!
Best regards,
Jackie Adams
866.250.5448
FranChoice Consultant
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According the Center for Women's Business Research, as of 2006, there are an estimated ...
- 127,417 privately-held, 50% or more women-owned firms in Alabama, generating more than $19 billion in sales and employing 154,628 people.
- 92,209 privately-held, 50% or more women-owned firms in Arkansas, generating more than $14 billion in sales and employing 100,330 people.
- 734,528 privately-held, 50% or more women-owned firms in Florida, generating nearly $124 billion in sales and employing 785,455 people.
- 312,840 privately-held, 50% or more women-owned firms in Georgia, generating nearly $56 billion in sales and employing 334,713 people.
- 132,603 privately-held, 50% or more women-owned firms in Kentucky, generating more than $18 billion in sales and employing 139,266 people.
- 150,742 privately-held, 50% or more women-owned firms in Louisiana, generating more than $24 billion in sales and employing 188,303 people.
- 81,199 privately-held, 50% or more women-owned firms in Mississippi, generating more than $13 billion in sales and employing 86,125 people.
- 283,522 privately-held, 50% or more women-owned firms in North Carolina, generating nearly $49 billion in sales and employing 370,690 people.
- 120,806 privately-held, 50% or more women-owned firms in South Carolina, generating nearly $19 billion in sales and employing 149,818 people.
- 193,058 privately-held, 50% or more women-owned firms in Tennessee, generating more than $34 billion in sales and employing 182,927 people.
- 243,756 privately-held, 50% or more women-owned firms in Virginia, generating more than $42 billion in sales and employing 320,198 people.
- 48,620 privately-held, 50% or more women-owned firms in West Virginia, generating $6.4 billion in sales and employing 55,723 people.
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