10 Reasons Opening Your Own Franchise is Great Back
Many people dream of an entrepreneurial lifestyle but end up stuck in conventional nine-to-five jobs worrying about job security. It’s often difficult to break out of this because of the high risks and costs associated with starting your own business… and this is where franchising comes in. If you’re seeking the next big step in your career and want to be your own boss whilst keeping the level of risk to a minimum, read on and find out why franchising could be your greatest opportunity yet!
- Track record of success. When you buy your own franchise, the majority of the hard work has already been done for you. Here at The Finacial Management Centre, we pride ourselves on our franchise model and proven track record which means that you’re buying into an already developed and successful brand.
- Training Programmes. All good franchises have tried and tested training programmes in place to help get all franchisees comfortable with all aspects of the business and its operating systems. At TFMC, training is a massive part of what we do, as we have a fantastic reputation to upkeep. This is why we provide thorough, in-depth training courses for all of our new franchisees, followed by weeks of comprehensive that is specific to your individual requirements.
- Ongoing Operational Support. One huge benefit of buying a franchise is the ongoing support you receive. Unlike many other business ventures, you’re not alone in the running of your business and you have access to an extensive network of successful franchisees, should you need any help or advice. At TFMC, all of our franchisees work closely with head office who are able to provide you with as much support as you need.
- Marketing Assistance. When you invest in a franchise, the bulk of the marketing will already have been done for you, giving you one less thing to worry about. TFMC provide you with local and national marketing campaigns that are carried out on your behalf to help extend brand awareness and generate more interest for your business.
- Risk Avoidance. It’s important to remember that success is never 100% guaranteed. You are, however, statistically more likely to succeed if you opt to buy a franchise compared to instead of starting your own independent business. In 2015, 97% of all franchises in the UK were profitable!
- Easier Access to Financing. It is generally a lot easier to borrow money from the bank as a franchisee, compared to somebody who is starting their own independent business. Banks feel more comfortable lending to recognised franchise names than they do to a business with no proven track record. At TFMC, we have partnered up with Natwest to bring our franchisees competitive packages, along with a dedicated team who have supported the franchising industry since 1981.
- You’ll Join a Team of People. By investing in a franchise you gain access to an entire community of franchisees who you can train with and learn from. You can combat business challenges together combining ideas, resources and expertise to help to develop the brand as a whole.
- You Get the Best of Both Worlds. You’re in a position where you are the boss, but you don’t have all the stress that comes with running your own independent business. At TFMC, head office are only a phone call away should you have any questions or worries and there is ample support should you need it.
- You Control Your Own Schedule. As a franchisee, you get many of the same perks that independent business owners get, minus all a lot of the stress. You’re able to schedule your own appointments, take vacations when you please and have control over who does what and when. It’s the kind of flexibility you don’t get from your average employer, and what draws so many people to franchising.
- You become a part of a recognisable and trusted brand. You’re more likely to gain a higher level of funding from the bank when you’re a part of an already established brand, as there is a proven track record in place which acts as a security blanket for lenders. You can also benefit from our years of experience in this industry, making it less likely for you to make the usual start-up mistakes that people encounter when they first start their own business.
You can read what some of our current franchisees think about their decision to start their own franchise and their experiences as a whole here.
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