Why a Franchise

Posted by: | on February 28, 2019

  1. WHY A FRANCHISE AND THE ADVANTAGES

A Franchise represents a unique proven investment and business opportunity. Upon investing in a franchise you are immediately associated with a proven concept with access to business expertise.

  • Experience in trading, product and service is immediately and readily available.
  • Operational systems are in place right from the start.
  • Training and consulting form part of any well operated franchise operation.
  • You do not have to go through the trial and error stages.
  • Your investment will grow as the brand grows. You become a business partner striving to a mutual goal.
  • The success rate with franchises is considerably higher than other small businesses.
  • A franchise reduces the initial start up risk and will increase the probability of success.
  • Manage your time to make a success of your business

WHAT ARE THE ADVANTAGES OF FRANCHISING

Buying into a proven turn-key operation
The advantage of buying a turn-key business with an established brand and tried and tested operational procedures is probably the most important advantage to investing in a franchise.

Reduction of risk
Whilst it is not an absolute given, the very fact that only 20% of franchises fail compared to the standard norm of 80% of independent businesses, it is safe to say that buying into a franchise system is less risky as you are buying into an established concept with proven operating standards.

Start-up assistant
From the moment you sign on the dotted line, the franchisor will take you under his wing and provide all the necessary set- up support  – from site selection to fitting and stocking up the store as well as training and marketing support. 

On-going support
On-going support in all aspects of operations will be given based on group bench-marking and sound business principles.  This is usually linked to operations, quality control and marketing and appropriate feedback is given to improve all-round performance in accordance with group norms.

Group Benefits
The benefit of belonging to a family of franchisees is extensive – from getting preferential financing through the strength of the brand to benefiting from bulk buying; from enjoying the fruits of new product innovation to reaping the results of pooled marketing resources.

Being part of an established brand
As an independent business, you would never be able to benefit from the knock-on effect of being aligned to a well-known brand.  The benefits of joint advertising maximize brand awareness and increase the profile of each and every franchisee in the group.

  1. PROFILE – (Of the ideal Franchisee & of a Franchisor)

The qualities that we expect to find in a franchisee are essentially the same as those that would make a good business operator in any type of business: Honesty, Integrity, determination, commitment and the absolute will to succeed.

However, this overview below will give you an indication if you are suited for a franchise and also the qualities that will have to look for in a franchise and a franchisor.

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Franchising is not for everyone – from whether you are suited to franchising to the controls that the franchisor imposes on your business.  Although most franchisees have an element of entrepreneurship inherent in them, most are former employees, from corporate backgrounds, or are the victims of mergers or downsizing, or are on the verge of retirement. 
On a personal level you should ask yourself the following questions…

  • Are you a confident, outgoing type of person that is not afraid of tackling challenges and problems head-on?
  • Are you a people-orientated person, able to interact with people on all levels?
  • Are you the type of person that can handle stressful situations, are comfortable with taking risks and are prepared for a total change in your lifestyle
  • Are you in a position to support yourself through the initial stages of setting up a business?
  • Do you have enough qualifications or experience to handle things like managing finances, doing sales and marketing?
  • Are you customer service orientated?
  • Are you the type of person who takes direction willingly or are you known as a “buck-the-system” type of person?
  • Do you like and enjoy people in general?
  • Can you lead and manage people?
  • Do you have the support of your family?
  • What do you like to do?
  • What are your interests and what type of occupation would be most compatible with those interests?
  • Do you think you will enjoy operating your business of choice?

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