Five Reasons to Consider Purchasing a Franchise Rather Than Starting from Scratch

Posted on Jun 10, 2015 by Trembly Law

Starting a business is a dream for many, but getting started can be overwhelming. If you want the freedom and control of owning your own business, but not the complexity of starting from scratch, buying into a franchise might be the perfect option. Buying into a franchise allows you to benefit from the proven business model of an existing business and comes with many significant benefits. (Of course, there are downsides to buying into a franchise, but this article focuses on the positives). Take a moment to look at the following five perks to purchasing a franchise rather than starting your own business from scratch.

Proven Concept

One of the biggest benefits to buying a franchise is significantly lower risk. The business idea has already been proven. Additionally, the franchise system will have already gone through the most risky part of starting a new business, which is finding out whether or not there is a strong market. You will simply have to replicate their system in order to become successful.

Marketing Help

Initiating successful marketing campaigns can be a daunting task for new businesses. Marketing may fall outside of the scope of your expertise and thus, may make it difficult for you. With a franchise, you will benefit from adopting the company’s marketing strategies and you may also be able to start your own marketing campaigns with the help of their marketing team.

Established Training

Franchises almost always have an existing training program. This program will help you train employees the right way and will effectively and efficiently familiarize them with the procedures of the business. This will allow you to avoid many of the problems traditionally associated with implementing a training program.

Real Estate Teams

Finding the right location for a new business, and then building the structure you need can be difficult and expensive. Most established franchises will be able to help you identify a good location and get your building created quickly and affordably. This can save you a lot of time and money while allowing you to focus on other important details of your new business.

Operational/Logistical Support

Many of the logistical systems that take small business owners years to develop are already in place when you buy into a franchise. For example, if you are opening a restaurant, the franchisor already relationships with food suppliers so you don’t need to negotiate prices or establish new contracts. There are many ways that this operational support can benefit you both at the beginning and long into the future of your company.

If you have any questions, please don’t hesitate to give us a call to speak with an experienced business attorney who can help you through this exciting process.

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