Franchising is a great way to become your own boss, but there are some myths about franchising that can deter people from taking the plunge.
Here are three of the most common franchising myths:
1. Franchises Are Expensive
Franchising can be an expensive investment, but it doesn’t have to be. There are many affordable franchises out there that fit a variety of budgets.
Keep in mind that there are over 3000 franchise opportunities on the market, so the chances that some will fit your budget are great.
The best way to find those franchises that do is to connect with a franchise consultant.
2. Franchises Are Riskier Than Starting Your Own Business
While franchising may come with some inherent risks, these can be mitigated by doing your research and due diligence before buying a franchise.
Through research, communication with current franchise owners, and the process of Discovery, you should be able to get the “big picture” on any risks that may be involved.
One of the most attractive points in owning a franchise is that there is already a proven business process set up by the franchisor.
Also, you are buying into a brand that is already known, as opposed to starting a business from scratch that no one has heard of.
3. You Need to Have Experience to Own a Franchise
As for experience, it’s helpful to have some business experience before owning a franchise, but it’s not a requirement.
There are plenty of resources and support systems in place to help new franchisees get up to speed. And most franchise opportunities offer extensive training in the industry you’ll be buying into.
Remember, they want you to succeed as much as you want to succeed!
Don’t let these myths scare you away from owning your own business. With the right research and preparation, franchising can be a great way to achieve your entrepreneurial dreams.
Franchise Matchmakers is a team of franchising professionals that are dedicated to helping people explore business ownership as a career path. Contact us at firstname.lastname@example.org to find out more about franchising options that may suit you.