Entrepreneurs: 5 Reasons To Consider Buying a Franchise Business
Wednesday Jan 24th, 2018
The choice to become a business owner can be the most rewarding career move of your life. There are lots of factors to consider and viable opportunities to evaluate when choosing the right opportunity. One important crossroad you will find yourself at is: do you build an independent company, or buy a franchise business?
No doubt, building a business from the ground up is challenging and fulfilling to those with an entrepreneurial spirit. But the higher reward of owning an independent company comes with higher stakes that may not suit your goals. Buying a healthy franchise business has some upsides that you may find valuable, or even essential to your career as an entrepreneur. Here’s our top five reasons why you should consider buying a franchise business as your next business investment.
Be A Part of an Established Brand
The day you open your franchise doors, you will already have brand recognition. At The Franchise Crew, some of our partners have been in business in Canada for over 20 years and have already developed stability and brand awareness among consumers. When you buy a franchise business, you are buying into an established, trusted name alongside other entrepreneurs with the same goals in mind. Our trusted partners include brands such as The UPS Store, Canada’s largest chain of print & copy shops, and Canada’s largest franchised network of business services centres; and Gino's Pizza which was founded in 1981 and currently has over 100 locations.
High Likelihood for Success
According to Entrepreneur.com, “Government research has indicated that the success rate for franchise-owned endeavors is significantly better than the rate for non-franchise-owned small businesses.” A lot of the initial risks associated with getting established with starting a company are eliminated when you buy a healthy franchise business. (That’s not to say that the hard work is done, though!)
The right franchise opportunity could be a turnkey business with all the tools you need for success already built in. Our partner, The UPS Store network, has been in the franchise business for more than 35 years. With more than 360 locations in Canada and over 4,300 locations in the US, franchise owners are a part of a network of entrepreneurs and can take advantage of that knowledge and expertise to help ensure their business takes off.
Support for Franchise Owners
When building an independent business, laying the infrastructure and processes are as important as making sales and acquiring clients. Often, they go hand-in-hand. When building an independent company, it may take years of testing and learning to establish best practices, protocols, and identifying trends, among other things; and all of these learnings are created by the independent business owner. When you invest in a healthy franchise opportunity with The Franchise Crew, you will have the peace of mind in knowing the support you need is guaranteed, every step of the way.
Many of our partners provide complete training to onboard new franchise owners and equip them with the tools they need to become profitable right away, as well as support and guidance throughout their journey. That’s what it’s like when you join the network of franchise owners with our partner, InExpress. Franchise owners receive comprehensive training to begin their career, as well as access to ongoing support from a dedicated business coach to continue to grow the business and manage disruptors.
Low Risk Investment
As with any investment, it’s important to research and weigh different opportunities. With the right opportunity, buying a franchise can help you avoid much of the risk of starting a new business as you invest in a stable company that is established and poised for growth. Investing in an established brand, coupled with comprehensive training and access to support from a senior team of advisors makes the franchise model a lower risk investment than going into business independently.
Work from Home/Be Your Own Boss
If you’re looking for the right franchise to fit your lifestyle, The Franchise Crew has you covered. With the right franchise opportunity, you can enjoy a work-life balance that suits your lifestyle. Some of our partners, like InExpress, even offer the ability to work from home! Owning a franchise can provide the right level of freedom, autonomy and rewarding work that you’re looking for as a business owner.
We’re in the business of helping entrepreneurs make informed business investments. Our team of experienced franchise brokers can help you measure your options and find the right franchise to meet your goals. If you’re looking for a rewarding career as a franchise business owner, The Franchise Crew can help you meet your goals.