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You already know that franchising has the benefit of prior experience. The brand has shown its value before, and the franchisor has honed its market presence to optimize profit and reputation. The franchisor provides training, pre-set operational tactics, and consistently successful marketing programs. For new business owners, there is no doubt that franchisor support is a great reason to choose franchising over a start-up.
Franchisors care deeply about your success. If you do well, they do well. The franchisor will assist your new venture as much as possible. But there is another bonus that you should not overlook—other franchisees.
Like the franchisor, every franchisee has gone through all the steps you are considering. They’ve managed the challenges of finally opening their franchise, and they now have many years of collective experience to offer you as a prospective new buyer. They will support you from the beginning of your journey and offer advice along the way.
No (Wo)Man is an Island
If you choose to open a private business, every decision and mistake falls on you. If you need expertise in logistics, you’ll have to figure it out. Computer issues? Figure it out. Interested in a marketing plan? You will learn through trial and error. These problems are good ways to learn new skills, but they will undermine your focus on building a strong business.
Running a start-up operation is an isolating prospect. A franchise operation, on the other hand, enables you to network with other owners. Their ideas and lessons help catapult new franchisees to quicker (and easier) profitability. The extensive network of like-minded business owners offers years of experience that you could not get on your own. They share ideas and readily offer suggestions when needed because they have a vested interest in your success, too.
Camaraderie Builds Community
The primary reason that franchises are enticing is the support system that is built into the franchise model. The franchisor wants you to succeed, of course, but so do other franchisees. They have every incentive to help you grow because it makes the brand stronger for them, too.
Most larger franchisors also have area managers collaborating with you and the other area sites to enhance the market. Everyone within the region strategizes together to meet local market demands. The cooperative marketing and operational ideas can be applied as suited to you and your community of customers. If your preferred franchisor is smaller, local owners often create their network to talk shop and share ideas.
Better Together
Fellow franchisees create a better franchise experience for you. Your peers are part of your success, and their interaction with your growth enriches your new business and the collective brand. Each participant enhances your ability to build your new site. With the initial support of the franchisor and the ongoing input and support of your peer franchisees, the group is better poised to command the market. Together.
Anne Daniells is a co-owner of Enterprising Solutions, a professional services firm specializing in corporate communication and financial improvement for businesses where she shares decades of corporate and entrepreneurial experience—including franchise ownership—in her writings on business culture. She has authored hundreds of articles for publications including AllBusiness.com, TweakYourBiz.com, and MSN.com. Reach out via her website for more on where corporate culture, communication, and human architecture collide.