Have you dreamed of owning your own business but you’re not sure how to get started? Well, you’re not alone! Many people have the drive but lack the structure needed to start their empire. So, where do you start? Our quick answer? A franchise business.
A franchise business is a proven and successful system that will help you get started on a new career in entrepreneurship. Let’s take a look at why it is so successful for many people.
Lower Operating Costs
Franchising is a common business model where the owner or franchisor sells the rights to his/her business brand to independent operators, also known as franchisees. By becoming a franchisee, you can operate your own store or shop and sell the same products and services for which you are given the rights.
Aside from this, you’ll also be given similar business infrastructure including the IT and marketing systems, which will be set up for you by the franchisor. This means that you will not spend on the full cost of setting up the business. Goods and labour will also be provided by the franchisor at a lower cost.
Free Business Training
Are you a first-time business owner? No prior experience in running a business? No problem. If you own a franchise business, you’ll have access to many training programs that the franchisor developed. These can help you eliminate the common mistakes that new business owners make, train you to practice the best operation methods, and give you important advice on how to run the business efficiently.
As a franchise owner, you will also be given the business manual for your reference to help you prepare for any situation during business operations.
Avoid Business Failure
Let’s face it, not all new businesses are guaranteed success. Creating fresh ventures involve some amount of risk, which can result in failure even in the first year of operations. If you own a franchise business, the risk will be much lower because you will be adopting a proven business model and reputable brand that sells to targeted consumers.
With a franchise business, you can expect to have ROI and gain profit without the need to create your own business idea.
Get Support from a network of Franchise Owners
As a franchisee, you’ll be part of a wider business group and have the pleasure to collaborate with successful business owners. This means that you’ll not go through the ups and downs alone but have the support of fellow franchisees who share your passion and investment.
If you’re a first-time business owner, owning a franchise business will give you the opportunity to ask for advice and guidance from other investors within the company or informal gatherings.
Be in Control
Just because you’ll be following a tried and tested model, that doesn’t mean you will not be in charge of your business. It’s quite the contrary. If you own a franchise business, there will always be room to practice your own decision-making and management skills.
In fact, you will be encouraged to try your own marketing strategies in your city or suburb. You are free to use other suppliers or contract other tradesmen. In short, you are still in control of your business.
Get Financing Easily
Another reason to own franchise business is easy to access business financing. Most lenders are keen to approve business loans to franchisees because they have business ventures with proven profitability. They’ll see you as a low risk to do business with and will more likely to help you out. So, if you need to get more capital to start a business, then you should own a franchise business for sure financing approval.
Own a Renovare Franchise Today
A franchise business is a low-risk way to begin your journey to becoming a successful business owner. If you like the sound of being a franchise owner, then you should consider owning a Renovare Franchise. It’s your perfect opportunity to own a business based on a trusted brand in home and property renovation. Take a look at the available franchise locations and secure your desired location before it’s too late.
Contact Renovare now and we’ll help get your franchise business up and running in no time.