Developing franchising for your business is an excellent way to expand your company while minimizing the risks on your part, but have you ever thought about how franchising can help other small business entrepreneurs? One of the most common objections we hear to franchising is that it puts locally-owned companies out of business, but in our experience that couldn’t be further from the truth.
Franchisees benefit from your successful business model
It’s true that many mom and pop shops have been shut down thanks to the arrival of big box chain retailers, but franchising can actually help those same entrepreneurs thrive in a competitive market. For instance, many small town grocery stores have gone out of business, but the same entrepreneurial folks who struggled to keep their independent stores open now own franchised convenience stores that offer higher profit margins, better organization, and are easier to resell. They benefit from your successful business model, and in some cases franchisees also benefit from group purchasing power that further cuts costs.
Franchise financing helps entrepreneurs get started with less capital
With our franchise financing, we can help your franchisees get started with a minimal investment compared to the capital required for starting a business from scratch. Add to that the fact that your franchisees can be trained in as little as 2 weeks to a month, and it’s easy to see why opening a franchise is an attractive alternative to striking out on one’s own.
Franchising is successful
Let’s be honest, you really want to franchise your business to make more money. To succeed in owning and selling franchises of your business, you need to create a business that allows your franchisees to succeed. But know this- franchising is, statistically, a very successful way to run a business!
According to the U.S. Department of Commerce, the failure rate for franchisees is only 5% or less a year, compared to a whopping 65-90% failure rate among new businesses. A 95% chance of success is an enticing prospect to potential franchise buyers, and of course their success is yours as well thanks to ongoing franchise royalties.
If you are ready to franchise your business, it’s time to hire a franchise consultant who can help you enter the market successfully. At Franchise ASAP, we offer experienced franchise development that can enable you to get started selling franchises of your business for as little as $20,000 in just 6 weeks. Contact me today to learn more about developing a small business into a franchise.
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