With the haunted season upon us, our thoughts drift to ghosts, goblins, and piles of candy. We dress in costumes and try to fool our friends. And we scare ourselves silly with a slew of horror films.
But there is one thing that can be scarier than a monster knocking on your door on Halloween night: becoming a business owner!
Trick Or Treat?
When you make the leap from employee to owner, there are all types of “horrors” that can creep into your day. Dealing with employee issues, customer problems, vendor developments, and so much more. But, there is a business model that makes the move to entrepreneur much easier…franchising.
Franchising provides tens of thousands of entrepreneurs the opportunity to be their own bosses. And with the help of a Franchise Consultant, the path to franchise ownership can be easy.
But is franchising right for everyone? As with any venture, there are pros and cons when considering a franchised business. So, let’s take a look at some of the “Tricks and Treats” of franchise ownership.
Treats
No Experience Necessary!
With thousands of different franchise opportunities in dozens of different categories, you are sure to discover your business passion. And the great thing is that you can choose a franchise in an industry you have no experience. The franchisor is ready to give you all of the training you need in order to run your new business.
Lower Risk of Failure
Because the franchisor gives you unparalleled training and support, your chance of business success can be higher than if you were to start a business on your own. Also, acquiring a business loan may be easier because the bank/loan company can see the track record of the franchisor.
You’re Getting a Known Brand
The franchisor has spent a lot of many (and probably years) developing a brand and marketing plan that is highly recognized. When you open the doors of your new franchise, you may already have a loyal fan base!
You Will Be Your Own Boss
Freedom. Flexibility. You will have control over your professional life. And, while you will be the king of the hill, you will also have the full support of your franchisor. You will be in business for yourself, but not by yourself.
Tricks
Investment Could Be High
From the initial fees to purchase the franchise to the royalties the franchisor may charge (and everything in-between), the cost of the investment may be more than you want to tackle. This is another area where a Franchise Consultant can assist with.
A Potential Lack of Creativity
While the franchise would be your business, you are bound to the branding guidelines set forth by the franchisor. That is part of the agreement you sign on Day One. However, some franchisors do give you a wider berth than others when it comes to your personal touch and input. Be sure to know those guidelines before you sign on the dotted line.
Before you make your decision on which road to take for business ownership, connect with us. We would love to help you discover if franchise ownership is the right path for you. And the best part? Our services are free to you!
Franchise Matchmakers is a team of franchising professionals that are dedicated to helping people explore business ownership as a career path. Contact them at info@franchisematchmakers.com to find out more about franchising options that are perfect for you.
