Everyone has been to this point in life when all we can think is about upgrading our professional life. Whether it means asking for a promotion, changing the job, or even going further to start from scratch in a new career path, we all got stuck in a rut sometimes.
If starting a new career elsewhere is already the answer to your needs, you may want to consider setting up a franchise. There are several markets to explore here, from a fast food restaurant to a cleaning franchise for sale. The franchising world is full of opportunities!
There are pros and cons to be considered when franchising. But it’s still considered the best option of starting a business with fewer risks involved. So, let’s check the benefits of this venture:
1- Visible alternative to start your own business
You may have a brief idea of what you want to do already, but franchising is a proven business model. We can’t deny it is tempting.
You just don’t need to come up with a brilliant idea to success. Plus, choosing an established brand increases your chances of gaining customers trust from the start. It’s not only a visible alternative to start a business, but also an excellent way of gaining trust as entrepreneur.
2- Franchisers get ongoing support
A supportive franchisor will be the toolkit for your success. Franchisees need to constantly improve their performances. You will need training, intensive courses, business management skills and more important than everything else, constant support from your franchisor.
Rely on a trusted brand that has years of experience in the market. A trusting franchisor will equip you with latest technology, helping you on networking to facilitate a smooth workflow on site. It’s like being in a good relationship- – if you have the same goals, it will work with few bumps now and then!
3- Better work-life balance
Don’t get me wrong, the franchising world is certainly not an amusement park. Sometimes, you will need to work harder to keep an already established business. And you will always have to find ways of improving your performance. There is no way around it.
But one of the advantages of being a franchisee is the opportunity of being more flexible with your work hours. It will depend on the type of franchising you are choosing, but it’s still possible to balance your personal life with your business management in a way that you will see benefits from both sides.
4- Reduced risk of failure
This is probably one of the most common reasons people chose setting up a franchise instead starting a new business from scratch. According to NatWest, 4 in 5 franchisers will survive in the first five years of business.
It’s a hell of a good data if compared to the 1 in 5 start-ups that will survive in the same period. Franchising is definitely a lower risk investment and it is a reliable way of generates high financial profit. Moreover, you are more likely to expand your career when joining a successful business model anyway.
Just remember that whatever are your future business plans, franchising can be a potential a life changing decision. Get it right from the beginning to avoid drawbacks.