There’s no denying that franchising is one of the best ways to become an entrepreneur. The reason people are sometimes hesitant about franchising is simply due to some of the misconceptions that exist. Like many other aspects of life, there are notable franchising myths, and today we hope to dispel a few of them.
Franchises exist in more than 80 different industries. While fast-food and other restaurants are certainly among the most well-known, and most costly franchises, they’re only one option among many. Franchises are available in senior care, landscaping, household services, pet grooming, and other industries. Franchises that require large amounts of space or equipment will generally cost more while franchises that can be run from home, or from a self-contained vehicle such as a pet grooming franchise tend to cost less.
Not true! As a franchise owner, you pay for the right to use the franchisor’s intellectual property such as branding, marketing, operations manuals, and more. While you might not be the founder, day-to-day operations, Profit & Loss, managing employees, and more, are under your control. You’re the boss and the owner of the franchise unit or location.
When you take ownership of a franchise, the franchisor will provide you with the necessary training to get you on your feet and launched. Once you learn to crawl, you’ll soon be walking and managing your daily operation. And before you know it, you may soon be running towards success.
Another important point about franchising is that it’s full of individuals who have taken a unique path to get there. Franchisees come from all walks of life, businesses, and backgrounds. Franchising may be the right path for anyone who is self-motivated, driven to succeed, believes in the value of following the successful processes of the franchisor, is a team player, has a business sense, and is a passionate advocate for the brand.
While owning a franchise can be a great path to success, it still requires a lot of hard work and training. In return for your initial investment in the franchise, the franchisor generally provides training, operations manuals, marketing, and tech support, and more. It is the franchisee’s responsibility to leverage all these tools, follow the franchisor’s processes and procedures, hire the best staff, and manage the day-to-day operations. When considering a franchise, it’s important to ask the franchisor about your return on investment and how long it may take to break even.
The opportunity for success in the business world through franchising is no myth. And neither is the wealth of opportunities offered by the experts at FranSave. To seize yours and begin your journey towards success, visit us online at fransave.com.
This information is not intended as an offer to sell, or the solicitation of an offer to buy, a franchise. It is for information purposes only. Currently, the following states regulate the offer and sale of franchises: California, Hawaii, Illinois, Indiana, Maryland, Michigan, Minnesota, New York, North Dakota, Rhode Island, South Dakota, Virginia, Washington, and Wisconsin. If you are a resident of one of these states, we will not offer you a franchise unless and until we have complied with applicable pre-sale registration and disclosure requirements in your jurisdiction. Franchise offerings are made by Franchise Disclosure Document only.