Brooklyn Robot Foundry - Opening a Franchise Tops Starting From Scratch
Discover why opening a franchise tops starting from scratch
Embarking on an entrepreneurial journey is exhilarating but the path can be fraught with challenges. While there’s no clear roadmap to success, taking the franchise route offers a unique set of advantages compared to starting a business from scratch.
The following are compelling reasons why opting for franchising is a smarter choice than starting a business from scratch for aspiring business owners.
Proven Business Model: One of the significant advantages of choosing a franchise is the access to a proven and successful business model. Franchisors have already tested and refined their systems, experiencing missteps and making adjustments, mitigating the risks typically associated with launching a new venture. This proven track record provides a solid foundation for success, especially for those without extensive business experience.
Established Brand Recognition: Building brand awareness is a time-consuming and challenging task for new businesses. Franchisees benefit from the immediate recognition and trust associated with established brands. Consumers are more likely to choose a product or service from a recognizable brand, giving franchisees a head start in the competitive market.
Extensive Training: Franchising allows an individual to start a new venture with a literal user’s manual! Franchisees also receive comprehensive training from the franchisor, covering everything from initial setup to day-to-day operations. That’s a lot more efficient (and pleasant) than having to learn through extensive research and trial and error.
Curious about franchising with Brooklyn Robot Foundry? Click here.
Ongoing Support: While some franchisors might choose to support each of their franchisees out of kindness and loyalty, they all need to do it for the continued success of the entire brand. Franchisors report the earnings of each of their franchise units every year. If some units aren’t doing well, fewer people will be interested in signing on to open their own. Therefore, franchisors have no choice but to be invested in the success of their franchisees and provide ongoing assistance to ensure their businesses thrive.
Sourcing and Economies of Scale: Sourcing supplies and materials is a difficult part of any business, especially those starting up. Not only do franchisees have the advantage of having this all already done for them, but they can also benefit from the economies of scale that come with being part of a larger network. These advantages often result in fewer supply chain issues, greater buying power, and cost savings, allowing franchisees to operate more efficiently and competitively.
Branding and Marketing Assistance: Creating a brand, from designing a logo to choosing fonts, is a long and often expensive process. Following that up with effective marketing strategies is an additional challenge for new businesses. Opening a franchise allows owners to skip these steps and leverage all that
Franchisors typically provide marketing assistance, including national and regional advertising campaigns. This support not only saves franchisees time and effort but also ensures consistent brand messaging across the entire franchise network.
Curious about franchising with Brooklyn Robot Foundry? Click here.
Risk Mitigation: Starting a new business involves a high level of uncertainty and risk. Franchises, on the other hand, offer a lower risk profile due to the support, guidance, and established systems provided by the franchisor. This can be particularly appealing to risk-averse individuals or those new to entrepreneurship.
Community: Because franchise owners share such similar experiences within a brand, they support, encourage, and learn from one another. This network provides a valuable support system where franchisees can exchange ideas, seek advice, and collaborate. This is not a competitive relationship, as it’s best for the entire brand when any individual unit succeeds. The sense of belonging to a larger community greatly enhances the overall experience of running a business.
From a proven business model to ongoing support, franchises offer a pathway to business ownership that is not only more secure but also increases the likelihood of long-term success. Ultimately, the franchise model provides a unique opportunity for individuals to realize their entrepreneurial dreams with a greater sense of security and community. Being in business for yourself, not by yourself.
Curious about franchising with Brooklyn Robot Foundry? Click here.
