CHAPTER 3: The advantages of owning a franchise
The advantages of owning a franchise
Starting out from scratch when creating your own business can really take a lot of work. Many people choose to start from scratch and build their own company from the ground up just so that they’ll be able to have a sense of pride and accomplishment. Those are both noble causes and it’s always a good idea to become an entrepreneur when creating your business. On the other hand, there are also some individuals who would rather simply work with a company’s brand name so that they won’t have to worry that much about marketing or spreading the word about what types of products and services they offer. This type of ownership of a business is called a franchise.
There are many advantages that an individual has when they own a franchise, but probably the greatest advantage that a franchise has, as mentioned, is the fact that they are starting out with an already recognizable brand name!
Use of the company’s whole reputation
One great thing about starting out with a franchise is that you are able to use the company’s whole reputation in order to advertise services, give out coupons, and treat the customer’s right. In some cases a franchise may actually be better for the company itself if the company has previously had a bad reputation in certain aspects of treating their customers. But the use of the company’s whole reputation means that there is less work involved for the franchise owner.
The ability to change
Most companies that allow their stores to be franchised usually have stipulations that go along with owning a franchise of their store. However, one of the abilities that a franchise owner has that others do not is they are able to change things as much as possible. Of course, a pizza company’s franchise can’t change the whole structure of the business and can’t go from selling pizza to office supplies, but other things about that pizza franchise could change. For starters, perhaps the company uses a specific sauce that the franchise doesn’t want to use. Of course, all of this and many of the changes have to be cleared with the officials at the company before it’s done, but franchise owners do have the ability to change things within their actual store.
One other element of change that franchise owners are usually allowed to do is to change the outside or “look” of the building that they’re in. Many people realize that usually all stores, restaurants, and other businesses usually all have the same outside look and feel of the store. However, franchise owners are sometimes not bound to that same outer look of the building!
Simply put, franchise owners really do have the upper hand when forming a branch of a company in their own town or city that they want to start it from. Even though the franchise owners themselves won’t gain any of the recognition for starting a company from scratch, he or she will still be able to enjoy everything else that goes along with forming a company and turning profits!
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