Your business is well developed and you have done all you can to create an IP that can be translated to other operators at other locations. Your Point of Difference is well defined.
Franchising allows companies to compete with much larger businesses and saturate markets before their competitors can respond. Franchising can help a business grow on both sides of the fence. The franchisors’ principal benefit is that they can expand more entities rapidly across different locations.
Franchising allows bigger businesses to branch out and grow while giving people the opportunity to run their own businesses with the help and support of a larger company that has a proven formula for success.
What are the advantages of franchising?
There are several advantages of franchising for the franchisee, including:
- Business assistance. One of the benefits of franchising for the franchisee is the business assistance they receive from the franchisor. …
- Brand recognition. …
- Lower failure rate. …
- Buying power. …
- Profits. …
- Lower risk. …
- Built-in customer base. …
- Be your own boss.