Has this question been bothering you for a while now?
Are you an entrepreneur or wish to be one and have been pondering on the aspects of a self-start-up or a franchise?
Let’s explore and help you have a better insight. But….
Before we give our inputs we’d like you to read the following excerpt from Rick Grossman’s book Franchise Bible.
Rick Grossman Says,” Very few people have the natural ability or expertise to be efficient at all aspects of running a successful business. That is where the franchisor’s experience comes into play.
Franchise organizations offer a structure for launching, operating and growing a business. Indeed, the successful franchisor will deliver the entire framework around which the business is built.”
Who is this Rick Grossmann?
Rick Grossman is a leading franchise industry expert with over 20 years of experience in helping both franchisors and franchisees grow their businesses. A successful franchisor himself, Rick developed a high tech/high touch franchise marketing and sales system selling hundreds of franchises in North America capturing ranking in Entrepreneur Magazine’s Top 500 franchises in less than three years.
So, when one such leading franchise industry expert is confident in telling you that,” the successful franchisor will deliver the entire framework around which the business is built,” then why not utilize this opportunity. Building the frame work on your own will undoubtedly take a lot of time, effort and money and even after investing all this you wouldn’t be sure whether the framework is apt for you to be successful or not. You wouldn’t know whether it can withstand the high and low of the business tides.
It’s not just about the frame work, Rick Grossman also says,” Franchisors usually create comprehensive operations manuals and training programs for their franchise owners that cover marketing, operations, accounting, technology and other areas that are specific to the particular business model. These efficiencies are designed to enable franchise owners to earn more and spend less time and effort than otherwise would be required to open and operate a similar business on their own.”
Isn’t it a golden opportunity if someone is ready to give you a perfect blend of an overview of operations and the essential training in all the specific areas, enabling you to earn more while investing less time and effort?
Oh yes, it is a Golden opportunity indeed, one that you should grab at the earliest as it will be rewarding and of course a money-spinning one.
By now you must’ve overcome the dilemma of whether to take a franchise or not and must’ve started thinking on the lines of making profit by taking a franchise. That’s the good way to go. Hold on to the thought while we focus on the second and the most important aspect as to how will the collaboration be beneficial to you if you take a franchise.
The franchise organization model offers the franchisee the scope to grow under a common brand and share in the profits of a well-established group. Even though each franchise is independently owned and managed, all franchisees share in the collective benefits of the organization.
As such you can take advantage in the following ways
- Own your trade and make day-to-day decisions yourself, guided by the experience of a successful business organization
- Get the benefit of Group Advertising Resources
- The advantage of prominent and established service marks, logos, trademarked info, copyrights and/or designs
- Get trained from veterans and make the most of their experience and expertise in the field
- Be the part of a uniform set-up as all franchises will share the same product, provision and brand.
- Have thorough operational backing from the franchisor, both before and after the initiation of your business endeavour, in areas such as training and functioning techniques.
- Get a chance to augment your management skills
- The greatest benefit is: You stand a far lesser risk of failure or loss of investments than if you were to start from scratch
Speaking in a nut shell taking a franchise is a win-win situation throughout where you not only benefit in terms of money but you also benefit in terms of experience, exposure and opportunity with a set platform to start off.
The franchisor gives you a ready Launchpad. All you need to do is invest, explore, learn and earn.