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8 Reasons to Own a Franchise Business

Small-business ownership can be incredibly rewarding, but definitely challenging.

However, owning a franchise business can feed your entrepreneurial side while eliminating some common barriers to small-business success. Consider these 8 big upsides to going the franchise route!

  1. Experience of franchisor. Strong franchise companies have proven methods of doing business that produce successful outcomes. By law, a franchisor is required to provide you with data and other information that will allow you to validate those results before you sign an agreement.

  2. Training. A solid franchise company offers initial training programs and reference materials to kick start your business so you can hit the ground running.

  3. Operational support. Franchise companies typically have infrastructure in place to offer ongoing assistance to franchisees. As a franchisee, you should never have to go it alone because your franchisor should have staff devoted to helping your business succeed.

  4. Group buying power. As an independent operator, your buying power for everything you’d need to run a business – from equipment and inventory to uniforms and furniture – is relatively weak. But franchise companies take advantage of the buying power of the entire system to negotiate low, “bulk” prices for the network.

  5. Research and development. A franchisor’s R&D (research & development) budget may be significant and franchisees will reap the benefits. New products and services, plus insights into how to introduce those new offerings, are all byproducts of robust R&D department.

  6. Peer support. When you buy a franchise, you are essentially buying into a network of small-business owners who share in your goals and mission on behalf of the franchisor. This network can be invaluable for bouncing new ideas off of and working through frequently experienced issues.

  7. Marketing and advertising support. As a franchisee, you will receive tools, support and materials to implement successful local and national marketing campaigns. This expense would cost an independent business owner a significant amount of money, but as a franchisee, your business receives premium marketing support at a fraction of the cost.

  8. Brand name. A huge advantage to being a franchisee is that you are able to draft off of the brand recognition of the franchisor.

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