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There
are many
benefits to owning a franchise compared to the challenges of starting a
business from scratch. Here are just a few.
;
Less Risk
Failure
rates are significantly lower than start-ups due to the experience, expertise and proven resources a
franchise system brings to you in your business.
;
Greater
Funding Options
Many
franchisors will often help you in the borrowing process by facilitating arrangements
with lending institutions which look positively on lending to franchisees
because of their higher success rates. There are also a number of community
development initiatives that will assist minorities in lining up financing to
purchase land or a building, fund construction or acquire the franchise.
;
Name Recognition and Brand Awareness
With an
established franchise, you get the benefits of years of marketing and brand
building to help sell your products or services.
;
Support Services
As a
franchisee, you will generally receive ongoing business support, often including
site selection, training, leads, marketing, new technology and more. Some
franchisors will assist you in developing a business plan, in learning the best
ways to hire and manage employees, and in managing your facility profitably.
;
Faster Start Up
You and
your employees often get on-the-job training from your franchisor leading to a
shorter learning curve. Plus you have the advantage of the franchisors operating
procedures to jump start your business.
;
Established Track Record
You have
the history of your franchisor to lean on and to help you predict your own
future growth. Your franchisor brings you a proven concept with products and
services that have already sold successfully.
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