The right franchise can provide a measure of security that is often missing from new ventures. Some of the most important advantages include:
— An established brand. Franchises often sell products with regional, national, or even global recognition.
— Training. Franchisers generally provide training to new franchisees. Such training can be extremely valuable for neophyte entrepreneurs.
— Volume purchasing power. Many franchises also offer centralized purchasing, which frees you from worrying about how and where to buy many of your supplies.
— Advertising. Many franchisers provide constant national or regional advertising.
— A proven business model. You can benefit from that experience and avoid a lot of costly trial and error.
— Accounting and budgeting systems. When you buy a franchise, you adopt the accounting and budgeting systems of the franchiser, which eliminates the complicated task of devising and implementing your own.
— Other help running your business. Many franchisers provide ongoing assistance on issues ranging from employee training to marketing.