More than ever before, business are considering the franchise option as a method for growing their new or current business models—and with good reason. Franchising lowers the amount of overall risk and overhead costs to expand your business nationally while utilizing the strengths, knowledge, and passion from new and seasoned business owners alike.
Over the course of the past 50 years, franchising has emerged as the leading intellectual property leveraging strategy for a variety of product and service companies. From restaurants to property maintenance businesses to retail store outlets, virtually every sector of the business world has taken their business model to the next level of both geographical and financial growth through franchising.
In fact, according to the International Franchise Association, retail sales from franchise outlets comprise nearly 50% of all retail sales in the United States, estimated at over $1 trillion dollars and employing over 10 million people. And there’s always room in the marketplace for new, enterprising business ideas and forward-thinking entrepreneurs who want to franchise.
If you’re a business owner with a tried and true business model who has boiled your system down to a uniform brand and operating system, you might consider franchising because:
- You can use the power of franchising as a system to get and keep more and more customers.
- You can increase market share and build brand equity.
- You can capture operating efficiencies and economies of scale pricing.
- You can achieve more rapid market penetration at a lower capital cost.
- You can reach your targeted consumer more effectively through cooperative advertising and promotion.
- You can sell products and services to a dedicated distributor network.
- You can replace the need for internal personnel with motivated owner/operators.
- You can shift the primary responsibility for site selection, employee training, personnel management, local advertising, and other administrative concerns to the franchisee with the guidance of the franchisor.
Franchising is about building relationships that forge a strong foundation for the future—especially during the most important phase of the process, the beginning. Now is the time to contact us with questions about how to franchise your business.