Statistics show that as many as 90 percent of new business startups fail to survive. Franchise opportunities can provide a simpler and safer way for prospective owners to realize their dream of starting their own business. From having a detailed plan that can eliminate much of the uncertainty surrounding a business launch to access to long-term support, marketing resources and even ongoing training and educational opportunities, investing in a franchise opportunity can provide several advantages to starting a new business from scratch.
Eliminating Uncertainty From a Business Plan
Within the business world, dealing with the unknown can be a source of considerable anxiety. Unexpected problems, complications that may crop up during the launch and early days of a business and other issues that may place strain on financial resources or impede the performance of a fledgling business are not concerns that should be taken lightly. Franchise opportunities allow owners to benefit from a proven and effective startup and operational model, one which can go a long way towards mitigating the risk of owning a new business. While there are never any guarantees when starting a new business, franchise opportunities typically boast a much lower failure rate than new startups.
Access to Support and Resources
Running a business can be an exhausting undertaking under even the most beneficial circumstances. Franchise owners who have access to a wide range of support, resources and solutions can more easily address and resolve any problems that may crop up along the way. Having someone to turn to in order to find help and assistance can be of paramount importance, especially for first-time owners and those who may not possess the background and past experience that may be needed in order to deal with every potential issue or future concern. Owners who choose to start a new business on their own may be hard pressed to find the help and additional resources that they may need from time to time.
Franchise Business Opportunities Make it Easier to Secure Financing
Raising the funds needed to launch a new business is one of the biggest obstacles that many prospective owners may be faced with. Securing funding for an untested business can often be a more challenging undertaking than many entrepreneurs might expect, especially when it comes to businesses that provide only service for their customers and clients. While securing funding based on a product sample or prototype can be difficult, finding financing in order to start a cabinet refacing company, couch cleaning company or other home renovation service can be all but impossible. Investing in an existing franchise, one that has a proven record and an established reputation, makes it much easier to find financial assistance in order to cover startup costs.
Many Franchise Businesses Offer Owners Training and Educational Opportunities
Owners who may have very little practical working experience may find themselves faced with no end of problems. Franchise businesses typically offer new owners a variety of training programs and educational resources that can make a difference. Learning what it takes to succeed within a specific industry can be a much easier concern for franchise business owners who have the opportunity to make use of businesses training programs and other resources that may provide them with hands-on experience, skills training or educational opportunities.
Finding the Best Business Opportunities
The continued growth experienced by franchise businesses indicates just how many potential benefits and advantages that owners may be able to enjoy. Easier and less risky ways to start a new business can provide prospective owners with the added encouragement and security needed to turn their dreams into a reality. Investing considerable time, ongoing effort and substantial financial resources into a new startup only to watch it fail can be nothing short of a disaster. Franchise opportunities can go a long way towards reducing risk by allowing prospective owners to benefit from an established business plan and operational process es that have been proven to produce results.
By: Lee Flynn