Home Entrepreneurship Top 5 Reasons for Purchasing a Franchise

Top 5 Reasons for Purchasing a Franchise

by Olufisayo
purchasing a Franchise

There are several reasons for purchasing a franchising over starting a business from scratch. These are:-

1. A proven formula is place. When starting a business, there are many hurdles you face such as figuring out your margins, operational efficiencies and resource allocation. All the issues that businesses face in the early days have been figured out and you’re getting a system that works.

2. A Marketing and sales system that has been tested and been proven to work well. This saves you time, effort and money both in the short and long term.

purchasing a Franchise

3. Finance is more easily available to franchise owners generally speaking, as lenders are more comfortable lending to franchise with a proven track record than a start-up business with no track record.

4. Training and support to franchise owners provides you will understand how to run the business successfully and best practices for the business.

5. You can spend time to focus on your customers, instead of concentrating on other formalities such as creating a HR manual, manufacturing processes etc.
There are several reasons to be a business owner including financial freedom the flexibility of working when it suits you and the satisfaction of being your own boss.

Franchises are a less risk option, than starting a business from scratch and have great opportunities for growth.

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Earnonlineng October 15, 2012 - 10:32 PM

This is a nice article especially for new entreprenuers who really needs to get up and start a business

Should You Start Your Own Business? August 9, 2017 - 6:49 AM

[…] top five reasons for starting a franchise are using a tested formula, deploying a marketing and sales system, getting easier access to […]

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