10 Fundamentals About Franchising You Didn’t Learn in Business School

Published on Jan 27, 2016

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PRESENTATION OUTLINE

10 Fundamentals About Franchising You Didn’t Learn in Business School

Photo by Jeremy Brooks

Have you ever thought about being your own boss someday? You would no longer have to take orders because you would be the one giving the orders. One of the quickest ways to establish yourself in the business community is through franchise opportunities.

You don’t need a business school degree to own a franchise. Here are the fundamentals about franchising to consider:

1. Proven Business
Franchise opportunities come with a proven track record for accomplishment. The parent company has already worked out the “kinks” so you don’t have to. They’ve done all the research and development as well as coming up with a product that has already shown to be a winner among consumers.


2. Brand Power
Franchise opportunities go hand in hand with brand power. Without that brand recognition, your business could falter. Customers appreciate a company they can trust and have often already done business with.

3. Training
Opening a franchise business means you won’t ever be alone. The parent company wants you to achieve your goals. That is why they’re going to provide you with all the training you need to get your business up and running.
4. Total Support
You’ll find a staff at the parent company standing by to assist you with any concerns. With a dedicated team behind you at every step of the way, there is more chance to make for smooth sailing.

5. Marketing Campaigns
Whenever you see a commercial on television for a fast food restaurant, you’re seeing a strong marketing campaign in effect. Who benefits from that? The franchise owner. That’s because the viewers are going to be enticed into spending money at those businesses.
6. Help With Leases
One area where you’ll soon become a so called “expert” is with commercial real estate. Once again, the parent company will be ready to lend a hand to assist in finding a viable location and help you negotiate a lease.

Photo by Thomas Hawk

7. Building Help
Unless your franchise opportunity is already up and running, you will need help with construction. The franchise will set you up with most of the help necessary to transform an empty shell into a vibrant business.
8. Buying Power
It’s important to set up relationships with several vendors who will be supplying you with all the ingredients you need for your business. Thanks to the power of a franchise, you’ll be able to take advantage of lower purchase rates for all those ingredients.

Disclaimer: This information is not intended as an offer to sell, or the solicitation of an offer to buy, a franchise. It is for information purposes only. Currently, the following states regulate the offer and sale of franchises: California, Hawaii, Illinois, Indiana, Maryland, Michigan, Minnesota, New York, North Dakota, Oregon, Rhode Island, South Dakota, Virginia, Washington, and Wisconsin. If you are a resident of or want to locate a franchise in one of these states, we will not offer you a franchise unless and until we have complied with applicable pre-sale registration and disclosure requirements in your state. Franchise offerings are made by Franchise Disclosure Document only.