JUN 19, 2019 by TRICIA PETTEYS
Business ownership is exciting and offers endless opportunities for entrepreneurs that decide to go into business for themselves. More entrepreneurs – experienced and inexperienced alike - are choosing franchise concepts.
Franchising has been a key contributor to building the small business community nationwide. In 2016, franchise concepts sold $868.1 billion worth of goods and services in the U.S. and produced one in seven jobs.
Moreover, franchising can offer a higher success rate with lower risk than a startup. Rather than building a business from ground up, a franchise has already established a strong brand presence, operational best practices, sales and marketing processes, and systems that are proven.
The majority of franchise concepts have established a strong brand and upstanding reputation. This solid foundation is established through proven leadership, established brand standards, training, ongoing support, and standardized marketing.
Entering into business ownership is always a possibility and there are many avenues that will take you down the path to entrepreneurship. The questions at large are:
- How much business experience do you currently have?
- Are you prepared to be independent, yet have brand guidelines and key performance indicators to achieve?
- Are you willing to work hard?
Once you’ve answered these questions honestly, you are ready for the next steps of finding your perfect franchise match.