“I want to be my own boss, but I’m not sure if I should purchase an independent small business, start my own business or buy a franchise. What are the benefits to becoming a franchisee?”
If this question has popped up in your head, then you’ve come to the right place! Franchising is growing year by year. Franchising is an important part of business, and it creates employment and be a profitable source of investment. In addition, investing in the right franchise can be extremely beneficial.
Franchising is considered to be more secure, less risky and more likely to be successful. Keep scrolling to explore some of the key benefits of purchasing a franchise business.
1. Established Brand & Customer Base
When you are starting your own business, you need to worry about pretty much everything! From the logo design, to the website, to your company’s overall feel and personality. When starting from the ground up, you need to worry about establishing your brand, along with your customer base. This can prove to be extremely challenging and sometimes even discouraging. However, when you become a franchisee, your franchisor has already established the brand and customer base for your franchise. Franchising takes all that stress away!
2. Proven Business Concept and Operating Model
When you become a franchisee, you’re owning a business that has most likely already been successful for a period of time. It has a proven business concept and operating model, and you are just following it. You won’t need to re-evaluate the business concept or figure out how to operate the business. Instead, the company has a proven concept and model that already works!
3. Established Operating Policies, Procedures and Standards
Another important aspect about franchising is that you are given policies, procedures and standards, and you need to make sure that you follow them.
4. More Likely to Succeed than a Start-Up
Starting up your own business can be risky. According to INC.com, “Fifty percent of all new business fail within five years.” This piece of information can prove to be discouraging and make you not even want to try. However, by becoming a franchisee, you can still own your own business, be your own boss, and not have to worry about the uncertainties of a start-up. It’s the best of both worlds!
5. Support Along the Way
When you become a franchisee, you have a variety of support services that your franchisor offers you. Support varies depending on the company and the initial contract. At the least, these services should include the following: site selection & development, initial training, continuing training and assistance, and marketing and advertising.
At RAMMP, we go above and beyond to make sure we have the interests and success of our franchisees at heart. We provide our franchisees with the following support services:
- An Established and Proven Restaurant Concept
- Corporate Branding and Development Strategies
- Site Selection
- Restaurant Design, Development and Construction
- Financing Assistance
- Staff Recruitment Assistance
- Comprehensive Franchisee Training Programs
- Onsite Training and Opening Assistance
- Ongoing Operational Support
- Advertising and Marketing
- Ongoing Menu Development and, Cost and Quality Control Programs
As you can see, there are many benefits to becoming a franchisee — especially with RAMMP. If you’d like to take the next step and start franchising with us, explore our franchising page and see how you can reap these benefits and become your own boss!