11 Reasons Why You Should Buy a Franchise

Starting a business can be fulfilling. You have complete control of operations, marketing, sales, human resources, etc. But when you start a business, you must consider time, money, people, and legalities, among other things. Fortunately, franchises are a great option to start a business without the hard work. You might wonder, “why buy a franchise when I can launch a business?”

Here are a few reasons why many entrepreneurs have considered going the franchise route instead of establishing a business.

1. Proven Business Model

All franchises say the same thing: a proven business model. As cheesy as that sounds, it’s true. 

These franchises have survived the competition and are expanding to cater to other markets. They have a tried-and-tested system in place to ensure that you reach your goals and theirs. After all, some long-running franchises are continuously improving their business model, and many franchisees are satisfied with every area of the business.

2. Easy to Start

You can face challenges when you start from scratch. For example, if you plan to start a business in the food or beverage industry, it can be tricky since you have competition. 

The beauty of franchising is that you don’t have to worry about running all over the place to meet start-up requirements. Most franchises are turn-key investments, making starting a business easier.

But before you start a franchise, most franchisors require you to find a location and create a business plan. Plus, they might run background checks on you too. Other than that, buying a franchise is faster than starting a business from scratch. 

3. Training

Another reason to buy a franchise is training. Franchisors offer training to ensure that you, management, and employees learn how to run the business their way. You don’t have to do the guesswork in operating technical equipment or handling customers. 

Most franchises have comprehensive training programs allowing you to run the business smoothly from day one. In most instances, many franchisors provide annual training, seminars, or workshops to help you stay updated with the latest practices.

4. Marketing

Among the many things that a franchise supports you with is marketing. Franchisors should provide a branding or marketing guide to help franchisees attract more customers to their stores. 

Most franchises would tap franchise marketing agencies to guide them and grow their revenue by promoting on traditional and digital channels. And regarding marketing materials, the franchisor can provide you with promotional assets to attract customers to your store.

5. Established or Recognized Names

Big brands like Taco Bell, KFC, and Popeyes are popular quick-service restaurant options. Not only that, but they have franchises available for entrepreneurs to buy. Although you’d see thousands of stores from these brands, many entrepreneurs would like a chance to take part in growing these franchises. Plus, they know how successful these franchises are. 

That’s why many go for the popular option because of what they’ve established. In addition, there’s the thrill of operating franchises like this and being part of a global group of franchisees working together to grow the brand.

6. Network

Another reason why you need to buy a franchise is the comprehensive network that franchisors provide. One is for the tech, materials, and inventory they will give you. You don’t have to find distributors or stores to buy your franchise essentials. With a franchise, you can save time and money. The franchisor provides you access to their network.

Similarly, you have a network of franchisees to support you as well. You can discuss your experiences as franchisees and share tips on running the franchise.

7. Location & Space

There’s a reason why franchises have specific location requirements. It’s to help you maximize your chance of success. Plus, you could achieve the estimated return on investment if your location is at a prime spot. 

Other than location, some franchises allow you to choose from various space options, like an actual brick-and-mortar store. In some cases, you have the opportunity to open a kiosk instead. Some franchises offer a mobile option, allowing you to move freely anywhere where you can operate. You will have to coordinate with the franchisor regarding this option since you will need permits.

However, as an alternative to setting up an actual store, you have home-based options to consider, especially if you want to save on rent and other operational expenses. Some home-based options include:

• Budget Blinds
• The Maids
• NextHome
• Cruise Planners
• Tutor Doctor

8. Financial Assistance

Some franchises offer financial aid to new entrepreneurs. You can ask them for financial assistance or where to get it, such as Small Business Association or a commercial bank. Instead of financial assistance, many franchises provide discounts to veterans and retirees, allowing them to save money for other expenses.

9. Experience

Let’s say you want to start an automotive franchise, but you don’t have experience working in the industry. Most franchisors aren’t strict with previous experience. So long as you are committed to running the franchise and have enough money to start the business, you can be qualified. 

But you can ask the franchise if you’re still a good fit even if you don’t meet their initial experience requirements. You are required to submit an initial application. From there, a representative will call you about your interest in franchising.

10. Operational Flexibility

Although franchisors enforce rules about your availability to operate their franchise, a select few allow you to run their franchises full-time or part-time. This is ideal for business owners with multi-unit franchises or those with start-ups. Plus, with a part-time option, you can earn more money with a franchise side business. Some franchises enabling you to run the business part-time are:

• Jan-Pro Cleaning and Disinfecting
• Card My Yard
• Network In Action
• ATAX
• Best Brains Learning Centers

11. Low-Investment Options

Not all franchises are expensive as McDonald’s or Dunkin’. That said, as a potential franchisee, you can help a new franchise grow by introducing it to a neighborhood, small town, or vicinity. This gives customers to have an alternative to what they have grown accustomed to. And if you’re interested in low-investment options, you can read about them here.