If you’re looking into owning a business, you’ve definitely been asked this before: is opening a franchise a good idea?
When it comes to owning your own business, you’ve probably done a lot of research and asked a lot of questions, one of which is probably this: is opening a franchise a good idea?
We get it, and we’ve heard it before. And, frankly, it’s a good question that we respect – if you’re going to be putting all of this time and money into something, you deserve honest answers that put you at ease.
That’s what our goal is today in this blog. While we won’t cover every last detail, we’ll give you a rough idea of some of the concerns we hear most often and why they’re more myth than reality.
Here’s a closer look.
Why Pay for a Franchise When I Can Open a Business on My Own?
This is arguably the biggest question we get asked when it comes to areas of concern in potential franchisees, who argue that paying an investment or “franchise” fee as it’s commonly referred to is a waste of money.
They can open their business for free, they argue, while a franchisee is paying thousands of dollars in their franchise fee just to get started. And while that’s technically true, it’s ignoring the greater truth.
First of all, opening a business isn’t free. We don’t need to explain that everything costs money, from licenses to equipment to real estate to interior design to employees and so on. But in the process of getting those things and setting your business up for success, you’re going to need help because, frankly, no one can manage every aspect of a business on their own.
You’re building from the ground up either way, but as a franchisee, you’re doing so with unlimited training and support in every aspect of owning a business. So while your counterparts going it alone are spending countless hours doing everything themselves, or trying and failing several times before getting something right, you’re saving time and money by having an out-of-this-world marketing plan, or a stellar business plan that puts you on the right track and helps you get financing, or a terrific management training that helps make you the best boss on the market.
You see where we’re going with this? It’s all of those little things you receive as a franchisee that add up and make the price you pay to invest and become part of our family all worth it. You’re simply at an advantage, with no ifs, ands, or buts about it.
Am I Really in Control of My Business, or Just Paying to Work for Someone Else?
Yes, this is your business, and you get to run it the way you want.
Here’s how it works: We give you guidelines, strategies, and a set of rules to follow for two reasons.
First, we’ve been there before. Our system is proven and it works. If it didn’t, you wouldn’t know who we are or have invested in our company in the first place. There’s value in becoming a franchisee, and you bought into this system because you see that value.
Second, as a franchisee, you’re essentially paying for the right to use the brand that your parent company grew and built on their own. You’re representing a brand that both the franchisor and your fellow franchisees have worked tirelessly to build, which includes the strong reputation the company has. You’re part of the shield that defends and upholds that reputation now, and so there’s a reason you should follow along with the franchisor’s system.
That said, it’s still your business. You still make all the major decisions and act as though there is no franchisor above you, all while receiving that endless support the entire time in the background. As a franchisee, you’re basically an independent business owner with the advantage of a major franchisor backing you and helping you along the way.
It’s truly the best of both worlds.