8 benefits of choosing a franchise
You might be at a stage in life where you’re thinking about fulfilling the dream of running your own business. Whether you have a strong business background or not, you might not know where to start.
The idea of running your own business is great, but you’re probably thinking it could be a little daunting. You want the challenge of starting up by yourself but you know there are many risks that come with that challenge.
Have you ever considered starting your own franchise?
Franchising is where you expand a business, and deliver goods or services through a licensing relationship. Franchisors (the company or person) specify products and services the products and services that will be offered by the franchisees, and also provide an operating system, an already established brand and fundamental support.
Here are 8 benefits of choosing a franchise and why it could be the best option for you.
1. You aren’t alone
Joining a franchise means that you’re joining a team of other individuals similar to you. A team that has gone through what you’re about to embark on. This is a real benefit because although you maybe starting your business up alone, you aren’t on your own.
A franchise gives you a major advantage, as you are more likely to be recognized both locally and nationally. For example, as a brand, Barrett & Coe take on national contracts, providing appointments to your diary from day one. If an individual local photography company approached a national company it might be a harder for you to establish a relationship. This can be applied to all franchises.
Being part of a franchise is also great for when it comes to purchasing items like branded products e.g. stationery. Ordering these items as part of a group means you can purchase at a higher volume for a lower cost.
When you initially take on a franchise, you’ll be given appropriate training and guidance to start you off. This would not necessarily be available if you started a business of your own.
A Barrett & Coe Franchise includes a comprehensive training programme giving you the knowledge required to hit the ground running.
3. Ongoing support and guidance
If you aren’t business minded then taking on a franchise usually means you can lean on a head office support team to get you started. This will include budgeting, prospecting, assistance in finding premises, branding and marketing information as well as guidance with social media.
4. Brand integrity protection
With a franchise, there is a team of people helping to protect the integrity of the brand, including other franchisees and also head office. A central head office team would be on hand to support you and manage difficult situations that may arise, such as negative feedback or a customer complaint.
5. Established trust in the brand
A big challenge for those starting a new business is to gain customer trust from day one. Taking on a franchise, is taking on an already established brand. Customers may already have trust or know of the franchise you are taking over, therefore making it easier than setting up your own independent business.
6. You can work to what suits you
Most franchises are based either part-time or full-time and work can around work/family commitments. Barrett & Coe offer two routes to starting your own photography business, either part-time with the Easy Track Franchise where you can be mobile or based at home, and full-time in a studio by choosing a Fast-Track franchise.
7. Peer networking
There will be other individuals that have been in your position, so having a franchise gives you great peer support. However don’t treat any problems they have had as a negative, treat them as a lesson. There will be things that the brand has done well in the past and things that haven’t worked well. This means that any business system that is recommended to you, it is probably recommended for a reason.
8. Pride of ownership
Taking on a franchise means you can reap the pride of owning! It’s your own business and you’re responsible for providing your clients with a service or goods. A Barrett & Coe franchise is your opportunity to become the recognised photographer in your local area, providing family, baby, pet and wedding photography to your customers.