There are many factors that go into deciding to embark on the exciting journey of franchise ownership. Owning a franchise comes with many challenges, but the advantages of being a franchise owner outweighs all of the obstacles that you will face. Here are just a few of the reasons to own a franchise:
Company Competency: Evaluating the competency of the franchisor should be your first step. A franchisor that knows the industry, their place in the industry and the profile of their customer is a tremendous asset. Ask these basic questions:
- How does the franchisor keep current in trends?
- How does the franchisor continue to keep the concept fresh?
- What is the franchisor attitude toward customer service?
- What is the field presence of the franchisor?
- How willing is the franchisor to collaborate with franchisees?
Established Marketing Practices: Your franchise will already have corporate marketing; it may even be the reason that you learned about your franchise or ownership opportunities in the first place! With an established marketing plan in place, you won’t need to spend as much of your own financial resources on such things as advertising.
Franchise Resources: Whether you have questions, concerns, or are unsure about how to handle an issue pertaining to your business, your corporate office and fellow franchise owners have been there before! Owning a franchise means that you have access to dozens of resources that may help to guide and aid you in your franchise ownership journey.
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