If you are an entrepreneur or aspiring business owner, you are undoubtedly going to face many hard choices. One of these choices is deciding between starting a business from the ground up, or buying a franchise from an established brand.
While certainly a tough decision, the right choice becomes clear when you take a hard look at the facts. If you carefully analyze the benefits and disadvantages of both options, you will discover that you are much more likely to be successful as a franchise owner. The benefits of franchise ownership usually outweigh the concerns – and they definitely outweigh the downsides of starting your own company.
get the support you need
Unlike business owners, franchise owners have a large amount of support for the franchisors. As a result, they benefit from having access to expert guidance and a wide range of resources. Franchisor support usually includes:
Comprehensive training: Learn how to leap from the starting gate and tackle store operations, sales, financial management and safeguards.
Advertising guidance: The franchisor can share national advertising campaigns with you, saving you money on original work while still getting plenty of local recognition.
Marketing advice: Successful marketing campaigns do not come together cheaply or quickly; a franchisor can lend you expert marketing advice to help you attract and retain customers in your franchise’s local area.
Operational support: Every business has occasional snags and setbacks; being able to turn to the franchisor for advice, extra help or a full support team is invaluable.
remain in control
Even though you are one of many franchise owners, you still get to enjoy being your own boss. One of the many benefits of being the franchise manager includes maintaining complete control over staffing. You can hire college students, senior citizens, your own family members, or anybody you want with no interference from someone higher in the chain of command. And if over time, you believe that a team member is no longer a good fit, you have the freedom to let them go. Additionally, you will be able to choose and control everyone’s work schedules – including your own.
work for an established brand
Entrepreneurs who choose to start their own business must face the painstaking realities of establishing a new brand and getting it noticed. Creating a new brand that stands out from the competition requires a massive amount of time and energy, and garnering awareness for a brand that nobody knows about can be an expensive feat.
Entrepreneurs who choose to buy a franchise from an established brand can avoid these hurdles. In fact, if they buy a franchise from a brand that is already well-known, they may not even need to invest much into marketing and advertising. Because they will have more time and money to make important investments and business decisions, they can also make more improvements within their business operations. Finally, because a franchise is often an extension of a successful brand, franchise owners can more safely assume that their business will be successful.
learn how to become a franchise owner today
When someone asks you, “What are the benefits of owning a franchise?” you can now say with confidence that becoming a franchisee is a path to opportunity, paved by the hard work of the franchisor. You benefit from every hard lesson your franchisor learned, and their knowledge will empower you and your franchise to succeed.
A final piece of advice: If you do choose to buy a franchise, make sure to buy one in a thriving and supportive industry. For example, the vaping industry is very profitable and is expected to grow in the coming years.
In the vaping industry, VaporFi stands out as a franchisor of choice. It integrates brick-and-mortar operations with an online presence and plenty of franchise support. The products themselves – which include high-quality vape pens and a custom-blending format for e-liquids which gives customers choices of more than 30,000 flavor combinations – also attract thousands of positives reviews from avid vapers. Moreover, they are products you will be proud to sell. Apply today to open the door to your future tomorrow.