The Advantages of Franchise Ownership

It is no secret that everybody wants to be their own boss. While this is only a dream to some, more and more Canadians are making it a reality through franchise ownership. Being a part of a growing, national brand provides security and other resources that independent startups just can’t. If you are looking to make a change, it is never too late to be your own boss.

There is a certain magic that comes from seeing your name above an office door but there is more to an independent service company than signage alone, Building up a name and reputation takes years of hard work and struggle. Even for those who are willing to contribute the sweat equity, there is always the question of capital. Many small businesses go years with a razor thin budget that can be toppled by one wrong move. Statistically, half of these will be out of business within the first five years. These numbers are enough to scare anyone off but it makes startups a real risk. It is this risk that drives potential owners into the security of franchise partnership instead.

Aligning with an established company provides the reputation that businesses need so desperately. In addition to a familiar name, franchise ownership can be a more cost-effective solution than an independent service. A property maintenance franchise, for example, bundles costs for specialized tools, training and equipment that can add up without a partnership. When considering a franchise purchase, it is important to look in to exactly what comes along with it.

Marketing is a budget killer for many startups but in the case of franchising, advertising, social media and web presence is all handled by a parent department. Having professional web developers on staff, increases web traffic while freeing up time for owners and their staff.

Resources are a major selling point for franchise partners. The cost of equipment alone can be in the tens of thousands depending on what type of industry you are breaking into. For most franchises, equipment is provided at a discounted rate and comes along with warranties for repair and replacement. In addition to physical resources, partners have access to a network of their peers with plenty of experience under their belts.

Security comes along with experience, training and, of course, insurance. With an established company behind you, staff have access to top of the line safety equipment and training. In addition to proper training, staff work under an umbrella of insurance that protects against bodily harm and any property damage.

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I am discussing all kinds of business and finance topics on this blog and I hope that the information I provide will prove to be useful.
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