Its startling to see the statistics for new businesses. 9 out of 10 businesses fail in the first year and if you consider the average start-up costs its no wonder most entrepreneurs have a very short “career”. A franchise can be a great way to start a business without the usual risks involved and for many this is the best way to start a successful business.
If you are thinking of starting a business and you think that you will go it alone, then hopefully these 3 important facts will help you see that a franchise is really the best way to go.
1. Proven Business
One of the biggest risks in starting a new business is the fact that you do not know if the business idea will work. Even the best ideas don;t always work and until and unless you put the business up you won’t know if it works. With a franchise you eliminate that completely since you know that its a proven business that’s been cloned over and over again.
Any business that works well, has a lot of systems in place. Systems are what makes a business operate efficiently and profitably. If you have to build a business up from scratch you have to build the systems from scratch and most people simply do not have the skill or the knowledge to do it without a lot of wasted time and money. Franchises are all about systems. Everything is already worked out and you simply plug into the existing systems.
Business is all about hands on experience and having the expertise to deal with the challenges. People who are running their own businesses often try and go it alone and end up burning their fingers. With a franchise you buy more than a business.
You buy all the experience and expertise of the franchise and all their outlets. All the answers and help is readily available and there is very little guess work involved.
Learn more about franchises and how to find the best business franchise opportunities.