Five Reasons Why Investing In a Franchise Opportunity Could Be The Right Move For You

With 626,000 Australian workers hoping their next role is working for themselves, it is no surprise that many potential entrepreneurs are turning to franchises as a genuine option.

After all, joining a franchise system which has already worked for other investors is one way to negate risk while making the leap to start your own business. Of course, no new business was ever started without some risk, but that can be somewhat reduced if you are using a franchise system that has proven successful for others.

That is just one reason why entrepreneurs are making the choice to become franchisees, rather than going with independent businesses.

Here are five more reasons why becoming a franchisee could be the option for you.

Help with starting off

One of the most daunting things about setting your own business is just that; it’s “your own”. For many, that can feel like a lonely experience. However, if you are a franchisee, it is likely you will have a system which has already built relationships with other franchisees.

It is likely that you will also receive training before you even start trading, which is another boost that entrepreneurs who are making their way in a non-franchise don’t have.

An Existing Market Share

When you think of fast food, there are a few names that come to mind. I would wager that most of those names are franchises.

It’s the same when you push through that imaginary business Filofax for most categories. Thus, people who are purchasing franchises are purchasing a business that potential customers already have a familiarity with.

If you become a franchisee, there is a strong chance that your business name is one of the first things that comes to mind when a potential customer needs a certain service.

Relationships have already been established

When you invest in a business, one issue you are sure to have is, “how will I build relationships with suppliers?”

That is a problem that doesn’t exist for quite a few franchisees, as they are buying into a business where these relationships are already established and have been proven to work.

Support when you need it

Most new businesses hit metaphorical road blocks along the way, but an advantage to being a franchise is that it is likely you will have a support system to help you get by these issues.

The problems you will come up against have probably been faced by other franchisees who are using the same system and they, as well as the franchise itself, can share their knowledge of how it got over these inevitable bumps.

Experience not necessarily needed

If you are one of those 626,000 Australian workers who is hoping your next role is working for yourself, then you are probably asking, ‘where do I have expertise and experience?’

Of course, starting a business in an area where you have experience is an ideal scenario, but one of the brilliant things about franchises is that there are many systems where no experience is required at all.

Very often, the franchise supplies training and guidance to help inexperienced investors become experts in their chosen franchise opportunity.

If your curiosity regarding franchises has peaked, simply click here to view our full A-Z listings.