Here at Direct Capital, we understand the franchise business. Whether it’s someone opening their second or seventy-fifth location, we help them continue their success. To help share insights and the success of our franchisees, here are the top 10 benefits of running a franchise:
- Reputation Through Brand
Even if you’re opening up your first location, there’s already a customer base that is loyal to the company. This is due to a solid reputation being created through association of the brand name rather than creating a new customer base.
You will have all the knowledge needed to run a successful location. This is provided through training and reference material from the franchisor that can be taken home. This is often a resource that new businesses are lacking.
- Marketing Deployment
The company that serves as the franchisor already has the tools that retain and attract customers. They will be able to help develop budgets and strategize a marketing plan for the first time you open.
- Practical Assistance
Corporate support and an existing business model are only two of the multiple resources available for your location. The franchisor will also assist in price negotiation with contractors and finding premises.
- Networked Business Relationships
Not only are you associated with a reputable brand name, but you are able to utilize business relationships they’ve already established.
- Taking on Big Business
An additional advantage of being associated with a recognized brand allows you to take on larger companies. Being part of a franchise allows businesses to be on better terms and buy more inexpensively than small businesses normally can.
- It’s Open to Everyone
Anyone can run a franchise! This type of business has a nature for not requiring specialist knowledge to be a franchisee.
One major perk of the job is being immersed in a network of franchisors you can learn from. You’ll enjoy a wealth of knowledge and technical insights into how to manage a business by running a franchise.
- Part of a Team
While maintaining a degree of independence, you will become a team member of a business system and well established brand. You will be able to work with other franchisees and the franchisor. Sharing and communicating best practices among other franchisees ensures that all cylinders are running smoothly.
- Be Your Own Boss
You are the boss of your own store. While being under an established brand, your success is in your hands.
If you’re a franchisee, let us know what benefits you’ve uncovered. Leave us a comment or connect with us on Twitter (@DirectCapital)!