why franchising is ideal for entrepreneurs - zoey mcguire lyrics
if you’ve always wanted to run your own business but been worried about the risk of failure, franchising could be for you. research shows that around 40% of uk new businesses fail within three years, whereas 93% of franchises made a profit in 2018
with franchising, you miss out much of the complex, confusing start*up phase. you’re buying into a brand that’s already been well*established and taking advantage of all the lessons already learned, the processes drawn up and tried*and*tested marketing and advertising strategies that are in place before you start. franchisors will have developed a fully operational business plan you can use to grow and seek funding for your business; and the best franchisors even provide ongoing training and support to help make your business a success. of course, you’ll still need time, energy and enthusiasm to build your franchise, but depending on your business type, you’ll typically have access to the stock and equipment you need to deliver a quality service to your customers right from the outset
franchising means you hit the ground running, and with so many opportunities in so many industries available, you’re sure to find a profitable niche
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