Monkey Puzzle Franchise News
Benefits of a Franchise
I am sure the question has been asked many times before, “should I start a new small business or buy into a franchise?”. Well, while both can be great opportunities, franchises are recommended by many entrepreneurs, so what are the benefits of a franchise?
To begin with it benefits both seller and buyer. The primary benefit for the franchise owner is the ability to use other people’s money to build their brand more rapidly. The initial income from the franchise fee and the ongoing royalties, fuels the expansion without losing control to outsiders or the pressure of repaying lenders. But don’t think that the franchise owner just pockets the cash! The funds are reinvested within the corporation, used to train and support franchisees, as well as marketing and advertising the brand which will benefit both parties.
Now lets look at the benefits of a franchise for the franchisee. Being a franchisee offers, statistically a higher chance of success, than if they were to start as a sole proprietor.
Key Benefits of a Franchise are:
- Initial training and support
- Help with finding the optimum site
- Proven business model
- Recognised brand
- Established online presence
- Peer support network with fellow franchisees
- Assistance with funding
As with any business there is no guarantee of success, and there will also be sacrifices when buying into a franchise. You will have less independence than if you were a small business owner but without doubt, the benefits of a franchise outweigh any minor drawbacks. Although a “follow the system” ideal is in place, it is there for a reason. Follow the business model to the letter and the potential to succeed and be profitable exponentially increases.
Now I am not saying for one minute that everyone is cut out to be a franchisee, some will simply not be able to deal with the lack of independence, but many will see the benefits of a trade off in exchange for working within a large corporation.
Finally, the benefits of a franchise need to be understood and embraced for the joint venture to maximise it’s potential with the franchisee being comfortable not only with the business model but also the culture, values and goals of the franchise.
If you want to take advantage of these benefits and are interested, in this case, our day nursery franchise, then register for our information pack here.
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Monkey Puzzle News
Monkey Puzzle Day Nurseries Ltd
Herts, HP4 2UB
Telephone: 01442 878887