Why Franchising is the Next Big ThingDate : May 8, 2018
In today’s generation, most often than not, people have been very open about opening up their own business. Some have worked to make a name for themselves in an industry, while some are eager to buy an existing business because of stability and independence. As for which, the latter is what we now call “Franchising” – a much easier way of investing without the hassle!
So what do you exactly do when you buy a franchise? Well, you as the franchisee:
- will choose the best location
- will pay the initial fees for the franchise of your choice
- will be able to use the trademark of the store
- will get ongoing support from the franchisor
- will use the franchisor’s system on how they do the business
Easy-peasy? Absolutely! Definitely worth your time.
That is why franchising is truly the next best thing! It offers its independent investors with just a single trademark with the same business concept. You can even take advantage of brand awareness, customer satisfaction, and great advertisement because of your affiliation. Since you are buying a franchise, you will already have an existing customer base. Before you know it, you will be up and running because everything is already in place. If you are a young investor or a retiree who would like to make a successful investment, franchising would be the best choice for you. Its proven system of operation would be your best advantage.
Also, the emergence of online and social media has a big factor in promoting this business. More and more people are using Facebook, Twitter, Instagram, and the likes to make their business become much more visible to their customers. What you as a franchisee must do is to think of ways on how your business should use this platform to better serve your customers. In most cases, the smart franchisor will also help you with this aspect of your business.
You can never go wrong with a franchise investment! As, Morné Cronjé, head of franchising at FNB Business said, “2018 will no doubt bring its challenges, however, for every challenge, there is a window of opportunity to explore. We are advising franchisors to scrutinize these trends carefully, it can definitely give them a boost for 2018,”.
So why not give this next big thing a shot? It may be your ultimate key to success!