Franchising is a fantastic business model, because it IS a model. You don’t have to reinvent the wheel! Here are some of the perks of franchising:
Buying a franchise cuts to the chase, so you can generate a healthy cash flow quicker than the traditional route of opening a single location. You’re essentially buying into a systematic method for making money that someone else before you developed and perfected.
Franchising is a way to apply replication to almost any business niche. Although restaurants often use franchising to grow a chain more quickly, franchising works for practically any business concept. Franchisees are less likely to stumble on the road to entrepreneurship, because of the accumulated wisdom gleaned from other franchisees, who have tried and tested the business process.
As the concept matures, the business process becomes so fine-tuned, it’s possible to take that concept almost anywhere and realize consistency in business operations.
If you’ve got an entrepreneurial spirit, but don’t want to entirely reinvent the wheel, franchising is a wonderful means to achieving those life dreams, while leaving the future a wide-open possibility.