There are many entrepreneurs eager to become their own boss and own a business. However, launching a new business is a huge undertaking and the process is not for everyone. Instead, many consider entering the expansive world of franchising. It is a very appealing industry, designed to provide ownership with a safety net.
The popularity of franchising is growing, due in part to its strength even during tough economic times. Based on the International Franchise Association’s Economic Outlook for 2022, franchising provides 8.5 million jobs in the U.S. with more than 792,000 establishments and a financial output of $826.6 billion.
As if this isn’t impressive enough, if you are thinking about buying a franchise, here are five more reasons touting franchising advantages.
Five Franchising Advantages
- Established Business. When you find a franchise brand that aligns with your interests, goals and values, you invest in a ready-made or turnkey business opportunity. Your franchise fee is your entry fee, giving you access to the franchise brand’s business model and operational systems. The allure of this concept is that as a franchise owner you buy into an established business with a model that has already taken a spin in the marketplace and is proven to work. Your job is to follow the guidance — giving you less risk compared with a startup because of the quick ramp-up and effective model.
- You’re Not Alone. Another one of the benefits of franchising is that you don’t have to do the legwork that you would if you were a sole proprietor of an independent business. You have a franchisor watching out for you and guiding you. Plus, you always have a support team with your fellow franchisees. This allows you to network with like-minded franchise owners to address challenges, concerns or share great ideas. Many franchise brands sponsor conventions or team meetings in an effort to keep franchisees updated on the latest innovations and technologies in the industry and to help them foster connections with each other.
- Purchase Power. As a sole proprietor, you are dependent on you. That means if you’re not well-versed in the many aspects of business operations, you’ll have to learn quickly. When it comes to franchise ownership, you follow a plan and can take advantage of powerful perks like collective buying power. Instead of purchasing supplies at high cost from a supplier or distributor, for example, your franchise may have relationships with providers who can keep your costs low thanks to bulk purchasing power.
- Training and Support. With many franchises, there is no prior experience necessary, another franchising advantage. That’s because the brand will provide the training you need to get your franchise location up and running. You are instructed by franchise industry experts who can help you avoid costly mistakes and guide you toward success. Not only will most franchisors prep you for your grand opening, they will also provide ongoing support addressing the challenges you may face going forward on a day-to-day basis. Additionally, having expert marketing assistance with a plan to promote the brand and your location will give you a much-needed boost for your new franchise.
- Brand Awareness. Foot traffic and creating a strong customer base is the bread and butter of any retail business. That’s why brand recognition is incredibly valuable especially when you are just starting out. Partnering with a brand that is easily identifiable means you already have patrons who can identify your brand and have come to appreciate the standards set.
Franchising vs. Independent Ownership
Purchasing a franchise instead of an independent business means you have all the perks of being your own boss and growing a business, but you do that without all the hassles and headaches of learning every part of a new business from scratch.
There are no guarantees in business, but as a franchise owner you are given the playbook. This is your guide to potential success. As an independent business owner, it can take a long time to go through the purchase process, learning the ins and outs and do’s and don’ts. As a franchisee you have an established model to guide you as well as experts to assist.
While you will face restrictions in franchise ownership — following the rules of the franchisor — remember, those are designed for your success, not as an obstacle.
Franchising Advantages with Wild Birds Unlimited
Becoming a franchisee is a great opportunity for someone new to business to enjoy entrepreneurship or if you are looking to expand your portfolio. Franchising is a ready-made business opportunity built for long-term growth.
When you choose a brand that’s the best fit for you, you can soar in business. That’s why we continue to grow and expand at Wild Birds Unlimited. With more than 350 locations throughout North America, we are leaders in the wild bird feeding industry because our franchisees love what they do. That’s the secret to our success. Our franchisees are able to have a career doing something that brings them joy and fulfillment. That contentment is contagious and is passed along to customers who have come to expect our high standards in customer service and quality products.
But don’t take our word for it, our franchisee testimonials tell the story. Our franchise owners enjoy being part of a brand that provides training, guidance and a good quality of life in a business that brings them joy dealing with customers.
When you’re going through the franchise purchase process with Wild Birds Unlimited, we encourage you to talk with current franchise owners. We are very transparent and want you to have a comprehensive understanding of the business, allowing you to make the best decision. We want you to be comfortable as a member of the flock for your success and for the growth of the brand.
If you’re ready to come fly with us, click the red button at the top of the page, fill out our form and let’s get started.