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Franchise Resource Center

Benefits of Buying a Franchise
Posted on October 27, 2010 by My Franchise Law

Buying a franchise can be a great way to get into business for yourself. With an established framework already in place to help you get off to a running start, success could be within your grasp. Here are several key benefits you will enjoy if you decide to become a part of a business franchise: 

  1. First and foremost, the appeal of a business franchise is that there is already a proven system in place which has helped make the parent company successful. This means that most of the kinks have already been worked out before you arrive on the scene, and if you simply follow the provided business franchise map, you should be able to duplicate your franchisor’s success.
  2. When seeking financing for a business franchise, franchisees may experience an easier time than independent business owners because they are working with a known brand, and a proven business plan, to help the business run smoothly and become profitable without wasting time on trial and error.
  3. Most who are buying a franchise receive thorough training in their field from the franchisor or corporate officials, who will teach them the ins and outs of managing a successful business franchise. You will learn how to run your business in the most effective way possible, and advisors within the business franchise organization will generally be on hand to take your call should you have any questions or concerns you want addressed.
  4. When you are a part of a franchise chain, you can benefit from the marketing campaigns and strategies that the franchisor is acting on. Instead of creating your own advertising plan, you can focus on running your franchise to the best of your ability.
  5. If you are buying a franchise in a chain with already established brand awareness, you will have an immediate customer base ready to consume your products or services. Buyers are often more comfortable choosing options they are already familiar with, so it’s possible that you will have a waiting pool of clients to serve once you open your doors.

 

External Resources

Small Business Administration

A government resource for finding information on planning, mentoring, and strategies for franchises and small businesses.
SBA Small Business Planner

USA.gov Business Gateway

Resources for every step in planning your business or non-profit, from getting your EIN to handling wages.  
USA.gov Business Gateway

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