First of all, we suggest starting with an assessment of your values and preferences. Do you like following systems or prefer the freedom to experiment? Do you prefer independence or enjoy being a part of a bigger community?
New vs. Established Brand
Franchised businesses benefit from increased brand awareness through an expanding network of Franchisees. You have heard the saying 'strength in numbers', this is especially true in business when it delivers increased benefits through better buying power and trade terms.
Working Systems
A new business requires the establishment of systems and processes, which can take time and result in costly mistakes. A franchised business will come with a proven, ready-to-follow and defined operating system you can follow from day one.
Training and Knowledge
When you start a new business, ideally, you will have the skills and knowledge required for the industry. In a franchised business you have the benefit of a franchisor who not only provides full initial training but is there to continue to support you with their knowledge throughout the journey.
Supplier Rates
In a franchised business, you're one of many, so the negotiating power is more significant than being on your own. So, you would often see lower supplier prices than non-franchised businesses have.
Marketing
Marketing is a crucial part of any business, especially when there is so much competition around. For a start-up business, this is a no-brainer - marketing is the priority, and it's usually the business owner who has the expensive task of finding what works best. Franchised businesses come with an experienced head office that has the responsibility of promoting the overall brand and has the knowledge to guide you in growing your business.