Why you should buy a franchise instead of starting your own.
“Perfection is a goal that will forever remain impossible for any human being to achieve.” – Edmond Mbiaka. Nobody is perfect, and that includes nobody being perfect in business.
The perfect person (if that even existed) would start their own business, do everything right from the start and fend off potential buyers until the dream offer arrives for the sale of that business. In our experience, that person doesn’t exist, but we do know about smart people, who understand and know how to harness their strengths while being aware of their weaker areas. Those people know the value of a proven business model and go the franchise route. Read on to understand why.
Franchise organizations provide a structure for starting, running and growing a business. From “how to” operate the business, to marketing, training, technology, finance and accounting and other areas specific to the business model. The “how to” is developed from many years of getting it wrong, in order to develop the model that gets it right – a model that packages years of experience and learned efficiencies, so that other business owners may learn from the best and step behind the wheel of a business on the road of success. The franchisee grows within the circle of an existing brand and learns more “how to” from other franchisees.
The collaborative benefits don’t end there, however, they extend to:
- Access to group advertising budgets with national or global footprints.
- Being a decision maker in your own business, leveraging the experience of a successful business.
- Flexibility to reach markets that larger operators cannot access due to higher operational costs.
- Leveraging the value of existing intellectual property.
- Learning from successful franchisees.
- Leadership from the franchisor.
- Lower risk of failure than a new venture in a start-up environment.
- Being an extension of an existing uniform operation with known products, operating protocols, etc.
- Operational support from the franchisor in general management disciplines.
- The scope to perfect your management skills within an established business model.
Unit 66 Studio Park
5 Concourse Crescent, Lonehill
Johannesburg, South Africa 2062
012 285 0412