My Top 10 Reasons For Choosing Franchising

1. Name Brand Recognition. Franchises have tremendous ability to build brand awareness and credibility. Established brands provide clarity to the buying decision. No mater where you go in the country, you know what you are going to get with an established brand because that brand has spent the time and money to explain their products and services and to build your confidence that they can deliver those products and services to your satisfaction. Why experiment with your money?
2. Track Record of Success.  Each franchise comes with it’s own well established track record. Franchises are almost always started by an independent operator who, through trial and error, and downswings and upturns eventually experiences widespread success with his/her business model. As a franchisee, you get to share the benefits of that hard earned success.
3. Marketing.  Franchises often spend an overwhelmingly large amount of money at the local and national level to inform potential customers about their products and services. The goal is, first of all, to eliminate any questions about what it is that the franchise does and secondarily to “burn the logo into the consumers mind.”  People may buy generic goods and services, but they never prefer them. They want familiar brands.
4. The Franchisee Network.  Each individual franchise is a miniature operational laboratory made up of their entire franchisee community which is constantly improving the operation of the business model and spreading these best practices throughout the system. Whenever you have a problem, there is a fellow franchise owner just down the road who can help you out.
5. Discounted Costs. Franchises have the advantage of using multiple  outlets to create buying power, through national contracts that can lower your cost on goods, services and advertising.
6. Technology. Whether its operational equipment, POS and record keeping hardware and software or analytical tools, Franchises are always looking to adapt the latest technologies that drive efficiency and profitability. They also have the ability to develop equipment and software designed specifically for the way the franchise operates.
7. Trends. Having locations in diverse markets allows Franchises to quickly discover and adapt to trends in the market place, keeping their franchises on the cutting edge of the industries that they compete in.
8. Skunkworks. (R&D): Franchises are constantly developing and testing new products, services, technologies and techniques that lower costs, provide additional profit centers, keeping the business ahead of the competition and simplifying the operations. Innovation is the key to survival in a competitive marketplace and Franchises produce that innovation.
9. Standards.  Franchises establish minimum standards of operation that keep the quality of products and services high. These higher standards elevate the expectations in consumers minds as to what is expected and acceptable in an industry.
10. Lower Failure Rates. Outside of Franchises, start up businesses have an 80% 3 year failure rate. Entrepreneur Magazine cites an SBA study which showed that only 19.3% of Franchises will fail within that time frame.