Have you ever considered owning your own business?
You’re in good company.
According to the Small Business Administration, more than 500,000 small businesses are started in the U.S. each year.
But before most small business owners can concentrate on running their own businesses, they must often invent their businesses. They must decide on a business name and a brand identity. They must establish a line of products and/or services. They must establish prices and procedures that will be accepted by customers and profitable for them. They must establish billing and accounting systems and procedures. They must create marketing programs to attract new customers, and operational efficiencies that will keep them coming back.
There are a lot of critical decisions to make, and sometimes making the wrong decisions – such as purchasing the wrong equipment, choosing the wrong location, using the wrong suppliers, making illegal hiring or firing procedures – can prove disasterous.
Focus on building – not inventing – your business.
What if a prospective business owner didn’t have to invent the business, but could just focus on implementing an established, proven and battle-tested business system from Day One?
What if he or she could also gain the buying power, marketing power and brand recognition made possible by pooling resources with dozens, hundreds, or even thousands of other small business owners ALSO using the same operational system and brand identity?
That’s the idea behind franchising: to eliminate the need for business owners to have to reinvent the wheel before they can get their business rolling, to eliminate the inefficiency, even lunacy, of hundreds of thousands of new start-up businesses across the country all simultaneously making the same start-up mistakes in isolation.
Continued at: Franchising Demystified – Part 2 of 2
Relentless marketer Sean Kelly is a 20 year veteran of the franchise industry, and founder of the award-winning marketing firm IdeaFarm. In 2006, he founded the FranBest franchise networkbest franchise opportunities, the top new franchises, franchise marketing, franchise public relations and small business marketing. Contact him at seankelly[at]ideafarm.net.