10 Reasons to Choose Franchising
- Published Date: March 16, 2015
Top 10 Reasons to Choose Franchising
Buying a franchise can be a life-changing experience. It provides the opportunity to be master of your own financial destiny, while enjoying the support of an established organization and the resources it commands. There are many reasons why you should fulfil your dream of becoming your own boss and opening a franchise. Here are our top 10 reasons to help you understand why it will be a great investment to choose franchising.
1. Be your own boss
This ranks at the top of the many good reasons to choose franchising. The desire to control your own destiny and to build a business for yourself has always been a powerful motivator in business and in life. Franchise ownership combines a sense of independence (within limits) with a greater level of security.
2. Turnkey Business
Buying a franchise eliminates all the hard work: finding a location, negotiating a lease, hiring reliable contractors and doing all this on-time and within budget. When you buy a franchise you are buying a complete turnkey business.
3. Proven System in Place
Franchising allows entrepreneurs to plug into a proven, successful idea and operating system, and focus their efforts on running the business rather than adjusting it to see what works best as they go along. Having a proven system already in place eliminates the guesswork and errors a common business owner would normally face. “The wheel’s been invented, perfected, branded, and marketed. As a franchisee, it’s time to roll”.
4. Higher Likelihood for Success
Since there is an already established system in place, there is a higher likelihood of success. If you follow the system the franchisor has put in place, you should be on your way to running a very successful business.
5. Easier to Obtain Financing
Banks are usually very comfortable financing the purchase of a franchise because they already have a proven track record. Lenders usually look at successful franchise chains as having a lower risk of repayment default and are more likely to loan money based on that premise.
6. Brand Awareness
You can spend months thinking up a clever name, logo, signage, uniforms and the exact look and feel you want to attract customers to your new business – but you won’t know if it’s truly effective until you open for business. If you buy into a franchise system that is already established, the corporate image and brand awareness is already recognized. Customers are usually more comfortable purchasing items they are familiar with and working with companies they already know and trust.
7. Training and Support
Franchisors want franchisees to succeed, and in fact they need them to. That’s why intensive training is included in the franchise fee. The franchisor will train you to run your franchise exactly the same way their other franchise locations are run. This will ensure that you are running your business efficiently and will help to eliminate any common mistakes a new business owner usually faces.
There is usually no need to worry about advertising your franchise. The franchisor usually takes care of handling all of the marketing. If not they will have an outline for you to follow and sometimes specific vendors that will have systems in place for you to use.
9. Exclusive Territory
When you buy a franchise you are also buying an exclusive territory in which to do business. You will be entitled to a certain area and no other franchises (within your franchise system) can be open within that area.
10. Own Multiple Locations
Then there’s the final advantage: pride of ownership. Being a part of a franchise system will always offer you more opportunities to grow within the system. Once you have become a successful franchise, owner the next step is to become a multi-unit franchise owner. After you have one successful franchise open with a great management team you can focus time on opening a second location.
With the success of the existing schools, Jigsaw Performing Arts is excited to be able to offer franchise opportunities in new areas to give more children a chance to experience the benefits of Jigsaw! You will be your own boss and fit your business around your existing life. Through our training and ongoing support we will assist you in all aspects of running your school and meeting our high standards. Jigsaw has the experience and knowledge in order to assist you in gaining new customers, and, importantly, retaining your current ones. We have tried and tested marketing and administrative systems that ease the day to day running of the business.