Owning a franchise makes a lot of sense
Why choose franchising – what are the advantages?
Owning a franchise business makes a lot of sense. You have the advantages of being your own boss and master of your own financial destiny, while at the same time enjoying the support of an established corporate structure and all the resources it commands.
Eight out of ten small-medium businesses fail within their first three years of operation. It’s not surprising then, that franchising has boomed in recent years – it brings added security and years of invaluable know-how to new business Owners in the system.
The introduction of the Franchising Code of Conduct in 1998, also brought an improved minimum standard to the sector and provides comfort for both franchisees and franchisors.
Franchisors offer a range of services to the franchisee, normally paid for by an ongoing “royalty fee”. Some of the most common services offered include the use of an established brand, marketing, buying power, training, technical business and financial advice, sales systems and the ability to network with other business Owners in your system.