Ready to Start Your Own Business?

The mission of this blog, started by the Founders of www.helpamericaspeople.com is to provide you, the burgeoning entrepreneur, with the most current and useful information, research, tips, tools, techniques, advice, etc. you’ll need to start your own business.

In the previous post (April 5), we discussed two reasons to consider Franchising.  This post will cover the other two reasons to consider Franchising.

3.  As a franchisee, you’ll get ongoing support from the franchisor and fellow franchisees.  Support begins  day one after signing the franchise agreement.  As a franchisee, you’ll be well trained in all aspects of running a successful unit — marketing, accounting, operations, human resources…and more.  Depending on the franchisor, training programs are usually required for new franchisees and can run from a week to four weeks.

Marketing is arguably the most important component of starting a new business.  If no one knows about your business, how can you possibly be successful.  That’s why most franchisors are deeply committed to national and regional advertising programs to keep their brand “top of mind” with your potential customers.  Remember, the franchisor wants you to be successful because the success and growth of any franchisor comes from collecting a steady flow of  royalty fees.

There’s also a strong trend of  formal and informal sharing among local and regional franchisees as they seek to learn from the ups and downs of their colleagues.

4.  Your chance of success increases dramatically as a franchisee. During the recent Great Recession, consumer spending decreased dramatically.  During uncertain times, consumers will purchase from a recognizable name; they want the comfort of doing business with a brand they know.   In a recession, a franchise has a greater chance of staying in business than an independent business.

Additionally, you’ll have the continuous support of the franchisor during difficult economic times.  They have had experience in both boom and bust economies; they know how to survive and will support you in both good times and bad.  They have a strong incentive in ensuring your longevity — collecting royalty fees.

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Next Post:  Which Franchise is Right for You?

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