10 Good Reasons to Buy a Franchise
As we emerge from the restrictions and lockdowns from COVID, many people are considering a franchise to set themselves up for their future.
And there are some good reasons to support this.
Proven business model – it works!
Systems and processes – to show you the steps.
Support and ‘in-house’ technical help – to assist you along.
Brand already established – leverage off their brand.
Marketing and advertising materials – already tried and tested.
Key supplier relationships established – saves you starting from scratch.
Training – how to do it right.
Peer support and access to the network – you’re not on your own.
HR assistance, recruitment, job descriptions – this is essential help.
Site selection and negotiation (where relevant) – they know how to do this.
But even with these solid reasons, not all franchises are created equal. There’s no guarantee of success - that comes down to you. Your effort, your management style, your customer service and business skills.
You also need to do a Pre-purchase Review before you buy. This checks the financial side of the business. Be sure the numbers stack up and have them checked by an experienced franchise accountant.
Let me know if you need a hand.
Peter