4 Advantages Of Franchising That Set You Up For Business Success
Many of the services we use most often – including McDonald’s, UPS and Marriott International – are franchises. While the widespread presence of franchises is convenient for consumers, the way they are structured offers many advantages for aspiring entrepreneurs.
Of course, no venture on earth is risk-free. Every undertaking comes with challenges. That said, the advantages of franchising are quite compelling…
1. Established Product Or Service
Breaking into a market that is oversaturated with household names is one of the most difficult aspects of starting a business. It is especially intimidating in the early stages before your business starts turning a profit. When you join a franchise, you reap the benefits of the work others have done to build a brand.
2. Well-Oiled Systems And Processes
Setting up and testing the systems and processes that managers and employees use on a daily basis can be time-consuming and full of stumbling blocks. If new customers get caught in the crossfire, the repercussions may be damaging to the future of the business. Franchisees, on the other hand, get to use previously established and tested procedures that have already proven effective.
3. Built-In Support
Therefore, if you encounter a technical issue, it could seriously eat into time that would be better spent on tasks that will directly advance your business. One of the advantages of franchising is access to a built-in support network you can turn to for assistance with technical issues. You can obtain help from an experienced, qualified IT professional instead of grappling with the problem yourself.
4. Initial And Ongoing Training Opportunities
Recognizing that knowledgeable managers and employees are well-positioned to achieve success for the franchise system as a whole, many franchisors offer training programs. Owners, managers and employees can complete these programs before the location opens. Some franchisors also offer ongoing training programs to ensure employees are educated on industry developments, as well as new products, services, promotions and customer incentives.
Reap Another Benefit Of Franchising With The Right Funding
In order to enjoy the advantages of franchising, you need capital to purchase, open and keep the business running in the days before you start turning a profit. Aggressive Lending provides a solid loan program for franchisees that takes into account everything you might need, financially speaking.
The dollar amount of the loans we give is based on the total project cost including working capital – setting you up for financial stability. Other valuable benefits of working with Aggressive Lending include:
- A fast closing process – 30 to 45 days
- No prepayment penalties imposed in most cases
- Fixed-term rates start at 6.5%
- Three to 10-year terms are available
- No personal collateral required (Don’t need to put up the house!)
- Out-of-state borrowers are ok
- Loans from $100,000 to $10,000,000
You do not want to miss out on the many advantages of franchising. When you obtain financing through Aggressive Lending, you can reap the benefits of owning and operating a franchise.