An individual who decides to open a business has, in essence, 3 options: establish a new business, buy an existing business or purchase a local franchise with a regional or national brand. The third option is one that is appealing to many people, even those who have never considered going into business.
Why is a franchise appealing? For one reason, it gives the business owner not only the opportunity to have his or her own business, but the chance to buy into, in some cases, a powerful national brand and a proven business model.
Second, the waters look less ‘uncharted’ with a franchisor providing its marketing support, expertise and a track record.
Third, it gives you an ‘exclusive’ on a territory. If you open a franchise, you do not have to worry about competition from the same company in your territory, although you still have to be concerned with competition in general, just as any business owner would.
Fourth, the odds for success can be better for a franchisee than the person who starts a new business or even one who buys an existing, non-franchised business. After all, just take a drive around MetroWest and look at all of the successful franchises: Wendy’s, McDonald’s, KaBloom, and the list goes on.
Carry on reading: Minding Your Business: Is A Franchise In Your Future?
Opening A Franchise
November 14, 2007 by Cris | 0 Comments
In Basic Guidelines, Law & Agreements, Franchises, Startup
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