Franchising combines the freedom of owning your own business with the clout of an established brand
At VENTURE, we’re all about recognizing and celebrating successful businesses. This month, we launch our franchising series to help connect aspiring entrepreneurs with leading organisations across a range of industries.
The franchise model is mutually beneficial and facilitates quick growth for both partners. If you’re looking to own your own business but want to get off the ground in a hurry, becoming a franchisee is a great solution. You have the independence of a business owner with the support and resources of a larger corporation. Instead of putting in the time to build a brand, you have the clout of an established reputation behind you.
Training in a proven business model is provided for you before you open, and support is always there when you need it. You’re never alone, with a central headquarters at your disposal and a network of fellow franchisees going through the same experiences you are and ready with relevant advice.
It’s easy to finance and less costly than starting from scratch. The parent company will help you in selecting a location site, and you’ll be able to get up and running quickly. Once you are open, you’ll have access to bulk inventory, allowing you to scale easily and avoid one of the common pratfalls of going it alone.
The risk is shared, and rest assured, the franchisor does not want to see you fail. Thus, they’ll provide leads and marketing assistance. A major hurdle for new businesses is getting your name out there and building a rapport with the public. With franchising, that work is already done. All this adds up to a higher chance of success.
Over the next year, we will provide insightful knowledge and advice for existing and potential franchisees as well as highlight some of the best franchise opportunities from a wide spectrum of industries. We encourage you to assess your strengths and passions to select the opportunity that best fits your personality. Do your homework, gathering as much information on the prospective company as you can, and have a business plan in mind. This will help lay the groundwork for a prosperous partnership.
We’re here to share our knowledge and help make the connection.