Jo Why Lee

London - United Kingdom

    Why setting up a franchise could be a smart move

    June 12, 2015

    When you hear the word franchise, you probably think of big American companies (mostly food outlets) that have expanded throughout the world and are extremely successful. However, franchises aren’t just strictly based in America anymore. They’re based all over the world in a variety of different industries. Their success is based on the company’s national and worldwide reputation and because of this, franchises are relatively easy to make successful (providing you’ve gauged the surrounding area’s market in the correct way). If you’ve ever been interested in setting up a franchise, or you’re simple wanting to know more about the subject, take a look at a few of the points I’ve written below. I decided to do a bit of research online, whilst also speaking to an expert who runs multiple franchises in the UK such as for further advice, about some of the main positives to purchasing a franchise and this are the main points I concluded.

    Strong brand and reputation to begin with

    If you’re starting a brand new business with a new name and logo, chances are that you’ll have to work very hard over a number of years to gain a really positive reputation. Not only is this a long process, but it’s a delicately balanced one as a single bad review can taint a business’s whole image. By purchasing an already established and trusted franchise, the brand is already deemed trustworthy by potential customers and will therefore be more likely to have regular and frequent success in the short and long term.

    Ongoing support

    When it comes to maintenance, a franchise will often give you all the support you need. They’ll have people you can call to fix faulty equipment as well as accounting departments to help you in that area if you need to. The franchise head office will also help you with any marketing that you might need to do in the area where you set up the franchise because they would have a lot more experience in that area than you do (unless you are amazing at marketing of course!)

    Employee training

    A franchise will usually give you the correct training needed to run your franchise properly. Whilst they are the brand behind the business, you are the face of it so the franchise will want to make sure you are properly informed of everything that’s new and to assist you with any unanswered questions you might have. They might also have training programs for your employees (if required) but this isn’t standard to all franchises so make sure you ask about this before you purchase!

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