Many people dream of being their own boss, but they remain with their current career due to fear of failure. The ugly truth about starting a business is about twenty percent of those endeavors fail within the first year. It might seem that is the only real danger zone, but another fifty percent will go out of business before or by their fifth year.
Few people want to take the risk that they will leave viable employment to strike out on their own, but experienced business brokers can help them find a franchise where they have a much better chance for success. As the Mid-South’s largest independent brokerage firm, our team at Alliant understands first hand how great these opportunities can be.
Here are five great reasons to buy a franchise:.
Brand Recognition
The vast majority of small business owners don’t fully understand utilizing massive marketing effort, so getting customers in the door is often difficult. For those who choose to purchase a franchise business, a known brand name is already part of the package. Add in the professional help of marketing experts, and it is a winning situation with customer awareness part of the package.
Established Success
It would be nice to be able to tell before investing in any business whether or not it will be successful, but that’s simply not how it works most of the time. Success or failure can depend upon things the business owners themselves do not control. With a franchise, there is already a track record of success. The buyer needs only follow the established plan to make the business work for them.
Knowledgeable Support
Business owners are usually ready to tackle anything with a fierce independence and a DIY attitude. Though these come in handy, there are many situations where business owners could use some assistance. Programs and businesses that are part of a franchise often include knowledgeable support staff on hand to answer questions and provide information. They have helped many other small business owners get up and running, and it is their job to ensure things get done according to their model.
Less Overall Risk
Ultimately, an established franchise is far less risky than launching a brand-new business. Choosing to go with a franchise that already has a brand name, marketing and operational support and a history of success is one of the best ways to succeed as a small business owner.
If you are ready to look at owning a franchise or any other well established business for sale, contact us today and discuss which opportunities are the best fit for you.